Amends GS 58-37-40(f) concerning certain NC auto insurance surcharges, providing that such surcharges imposed to subsidize the losses of the NC Motor Vehicle Reinsurance Facility must be itemized and displayed to the policyholder in substantially the same manner as the applicable premium charge is displayed in communications with the policyholder.
Effective when the act becomes law, applying to motor vehicle insurance policies issued or renewed on or after January 1, 2017.
SURCHARGE TRANSPARENCY.
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| View NCGA Bill Details(link is external) | 2015-2016 Session |
AN ACT TO PROVIDE THAT NORTH CAROLINA AUTO INSURANCE SURCHARGES IMPOSED TO SUBSIDIZE THE LOSSES OF THE NORTH CAROLINA MOTOR VEHICLE REINSURANCE FACILITY BE CLEARLY COMMUNICATED TO POLICYHOLDERS.Intro. by Brock.
Status: Re-ref Com On Insurance (Senate Action) (Mar 30 2015)
Bill History:
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Wed, 25 Mar 2015 Senate: Filed(link is external)
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Thu, 26 Mar 2015 Senate: Passed 1st Reading(link is external)
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Mon, 30 Mar 2015 Senate: Withdrawn From Com(link is external)
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Mon, 30 Mar 2015 Senate: Re-ref Com On Insurance(link is external)
S 428
Bill Summaries:
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Bill S 428 (2015-2016)Summary date: Mar 25 2015 - View Summary
View: All Summaries for Bill
Identical to H 496 filed on 4/1/15.