SURCHARGE TRANSPARENCY.

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View NCGA Bill Details2015-2016 Session
House Bill 496 (Public) Filed Wednesday, April 1, 2015
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 Collins.
Status: Re-ref Com On Insurance (Senate Action) (Sep 28 2015)

Bill History:

H 496

Bill Summaries:

  • Bill H 496 (2015-2016)
    Summary date: Apr 29 2015 - View Summary

    House amendment to the 2nd edition makes a clarifying change.

    Business and Commerce, Insurance, Transportation
    GS 58
  • Bill H 496 (2015-2016)
    Summary date: Apr 29 2015 - View Summary

    House committee substitute makes the following changes to the 1st edition:

    Amends GS 58-37-40(f) concerning certain North Carolina 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 at the time of policy issuance and renewal on the declaration page or renewal notice approved by the Commissioner of Insurance, appearing below the coverage and premium information in the exact language as specified. 

    Business and Commerce, Insurance, Transportation
    GS 58
  • Bill H 496 (2015-2016)
    Summary date: Apr 2 2015 - View Summary

    Identical to S 428 filed on 3/25/15.

    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. 

    Business and Commerce, Insurance, Transportation
View: All Summaries for Bill