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NC H453
Bill
Status
Passed
6/27/2011
Primary Sponsor
Jerry Dockham
Click for details
AI Summary
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Defines "salary protection insurance" as insurance against financial loss from loss of earned income due to disability from sickness, ailment, or bodily injury.
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Permits salary protection insurance to be placed and issued through the surplus lines insurance market with nonadmitted insurers, rather than only through admitted insurers.
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Limits total salary protection insurance benefits to no more than 75% of an individual's annual earned income when combined with any disability income insurance from admitted insurers.
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Becomes effective October 1, 2011.
Legislative Description
Allow Salary Protection Insurance
Last Action
Ch. SL 2011-370
6/27/2011
Committee Referrals
Finance6/13/2011
Insurance5/26/2011
Finance5/10/2011
Insurance3/24/2011
Full Bill Text
No bill text available