AN ACT TO MODIFY THE CURRENT OPERATIONS APPROPRIATIONS ACT OF 2017 AND TO MAKE OTHER CHANGES IN THE BUDGET OPERATIONS OF THE STATE.
Amends GS 58-36-30(b1), as enacted by Section 1.3(a) of SL 2016-78, concerning consent to insurance rates in excess of that allowed by the Rate Bureau for residential real property with not more than four housing units, adding language that provides that any data obtained by the Commissioner of Insurance (Commissioner) pursuant to this subsection that identifies individual insurers or insureds is considered proprietary and confidential and not a public record (previously, subsection stated that any data obtained by the Commissioner pursuant to this subsection was proprietary and confidential and not public record). Adds new provisions requiring the Commissioner to annually collect and publish on the Department of Insurance website, no later than July 1, the following aggregated data for each geographical ratemaking territory: (1) the percentage of policies for which a consent to rate has been obtained and (2) the average difference between the manual premium and the consented premium.
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