Enacts new GS 58-36-65(n) providing that on or after September 1, 2016, an insurer that writes nonfleet private passenger motor vehicle insurance can, instead of setting rates under the Safe Driver Incentive Plan (SDIP), decide to develop, file, and implement an insurer-specific driver incentive plan as provided for in this subsection. If no election is made for the incentive plan then the SDIP plan must be implemented. Sets out the contents of the insurer-specific plan, procedures and revisions for the insurer-specific plan, as well as the scope of the plan, providing that the insurer-specific driver incentive plan must adequately and factually distinguish among different classes of drivers. Further provides that the insurer must make its election of the plan by notifying the Commissioner of Insurance on the proper prescribed form.

Enacts new GS 58-36-75(i) providing that the provisions of the statute have no effect or application to drivers, risks, and coverages retained by an insurer that has elected to and has filed an insurer-specific driver incentive plan with the Commissioner of Insurance under GS 58-36-65(n).