Bill Summary for S 452 (2023-2024)

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Summary date: 

Apr 27 2023

Bill Information:

View NCGA Bill Details2023-2024 Session
Senate Bill 452 (Public) Filed Thursday, March 30, 2023
AN ACT TO MAKE VARIOUS CHANGES TO THE INSURANCE LAWS OF NORTH CAROLINA, TO AMEND THE INSURANCE RATE-MAKING LAWS, AND TO REVISE HIGH SCHOOL INTERSCHOLASTIC ATHLETICS.
Intro. by Johnson, Craven, Britt.

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Bill summary

Senate committee substitute to the 2nd edition makes the following changes. 

Further amends GS 20-279.21 by amending the required content of the notice that a motor vehicle insurer must provide when issuing and renewing a policy in specified conditions, to require notifying the insured that: (1) the insured is required to purchase uninsured motorist bodily injury coverage, uninsured motorist property damage coverage, and underinsured motorist bodily injury coverage (was, if applicable, underinsured motorist bodily injury coverage) and (2) the insured's underinsured motorist bodily injury coverage limits (was, if applicable) must be equal to the highest limits of bodily injury liability coverage for any one vehicle insured under the policy unless the insured elects to purchase greater or lesser limits for underinsured motorist bodily injury coverage. Makes technical changes.

Amends GS 20-279.25 to allow proof of financial responsibility to be evidenced by the certificate of the State Treasurer that the person has deposited with the Treasurer $150,000 (was, $85,000) in cash, or securities. Makes conforming changes.