Bill Summary for H 382 (2017-2018)

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Summary date: 

Apr 11 2017

Bill Information:

View NCGA Bill Details2017-2018 Session
House Bill 382 (Public) Filed Wednesday, March 15, 2017
AN ACT TO INCORPORATE NAIC MODEL LANGUAGE INTO NORTH CAROLINA'S LIFE AND HEALTH INSURANCE GUARANTY ASSOCIATION ACT; TO AMEND AND MAKE CLARIFYING CHANGES TO THE SURPLUS LINES ACT; TO AMEND CONSENT TO RATE AND CAPTIVE INSURANCE LAWS; AND TO AMEND AND MAKE TECHNICAL CHANGES TO OTHER INSURANCE LAWS, AS RECOMMENDED BY THE DEPARTMENT OF INSURANCE.
Intro. by Setzer, Bumgardner, Henson, Destin Hall.

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Bill summary

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

Changes the effective date of the proposed changes to GS 58-7-179(c), making the changes effective when the act becomes law (previously, effective January 1, 2018). 

Deletes the proposed changes to GS 58-57-90(a) and GS 58-57-110(a), concerning the regulation of credit insurance.

Amends GS 58-33-56(d) requiring the insurer to notify the insurance producer of his or her termination using a form prescribed by the Commissioner of Insurance (currently, must notify the Commissioner by mail with a copy of the notification to the producer at the producer's last known address) within 15 days after making the notifications required by subsections (a), (b), and (c) of the statute. 

Amends GS 58-71-71(b) to require every bail bondsman and runner to complete the specified continuing education annually by June 30, with a person receiving his or her first license on or after January 1 of any year not being required to comply until June 30 of the following year (currently, based around license renewal with no specified date).

Amends GS 58-44A-10 (Requirements for sale of portable electronics insurance). Adds new subsection to allow notices and correspondence to be sent either by mail or by electronic means. Permits the consumer to provide an email address to the insurer or vendor of portable electronics, which constitutes the consumer's consent to receive notices and correspondence by electronic means so long as a disclosure to the effect is provided to the consumer within 30 days following the purchase of the portable electronics insurance. Effective September 1, 2017.

Makes technical changes.