Amends GS 58-36-30, which generally prohibits insurers from issuing or delivering insurance policies in the State that do not conform to the rates, rating plans, classifications, schedules, rules and standards made and filed by the NC Rate Bureau. Modifies subsection (b1), which allows for rate deviation for insurance against loss to residential property with no more than four housing units. Eliminates previous notice provisions regarding an insurer charging a rate higher than the rate promulgated by the Rate Bureau on any specific risk. Now allows for charging the higher rate if charged in accordance with rules adopted by the Commissioner of Insurance (Commissioner) and with the knowledge and consent of the insured, now permissible by electronic means. Requires the insurer to notify the insured at least 60 days prior to charging the higher rate (1) that the rates used to calculate the premium will be greater than those applicable to the State; (2) what the premium based upon approved rates in the State would be; (3) what the insurer's premium for coverage will be; (4) the justification for charging the higher rate; and (5) any actions the insured can take to mitigate the insurer's justification for charging the higher rate. Replaces the reporting requirements in subsection (b2). Instead requires the Commissioner to collect and annually publish aggregated data from all insurers for each geographical rate-making territory with 23 specified data points, including among them the number of policies in effect, the number of applications for coverage, the number of applications for which coverage was not provided, and the number of policies not renewed, canceled, or terminated.

Amends GS 58-36-90 to prohibit insurers rating and underwriting noncommercial private passenger motor vehicle and residential insurance coverage from using credit scoring as a basis for terminating an existing policy or any coverage in an existing policy, or subjecting a policy to consent to a rate deviation (current law prohibits using credit scoring as the only basis for termination or consent). Makes conforming deletions. Makes conforming changes to the statute's caption.

Makes the above changes applicable to policies issued, amended, or renewed on or after October 1, 2027.

Directs the Department of Insurance (DOI) to adopt implementing rules.

Directs DOI to study the feasibility of and methodology for gradually reducing the number of rate deviations authorized by GS 58-36-30. Requires developing a plan for reducing households consenting to rate deviations to 20% or lower of the statement insurance market by January 1, 2040, along with strategies for preserving access to insurance while gradually reducing the use of deviations.

Directs DOI to conduct a public awareness campaign on rate deviations beginning January 1, 2027, as specified. 

Directs DOI to report proposals for implementation of its reduction of the use of rate deviations to the specified NCGA committee by October 1, 2027.

Appropriates $50,000 from the General Fund to DOI for 2026-27 to conduct the study and public awareness campaign. Effective July 1, 2026.