Bill Summary for S 137 (2017-2018)

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Summary date: 

Feb 28 2017

Bill Information:

View NCGA Bill Details2017-2018 Session
Senate Bill 137 (Public) Filed Tuesday, February 28, 2017
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 Meredith, Wade, Gunn.

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Bill summary

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 beitemized and displayed to the policyholder at the time the policy is issued or renewed, and prescribes the form for that display. Applies to motor vehicle insurance policies issued or renewed on or after October 1, 2017.