NC H834

Permits insurers to deviate from North Carolina Bureau rates for nonfleet private passenger motor vehicle liability insurance by filing proposed deviations based on sound actuarial principles, with deviations taking effect upon filing.

Establishes that rate deviations up to the rates charged for risks ceded to the Reinsurance Facility are presumed not to be excessive, inadequate, or unfairly discriminatory.

Creates a five-year phaseout schedule (2013-2017) requiring the difference between "clean risk" rates in the Reinsurance Facility and actuarially sound rates for all risks to be eliminated by December 31, 2017.

Eliminates the "clean risk" subclassification within the Reinsurance Facility effective January 1, 2018, removing the separate rating category for drivers with clean driving records.

Takes effect January 1, 2012, except for the elimination of the "clean risk" subclassification, which becomes effective January 1, 2018.