NC S836

Requires the Department of Insurance to accept public comments on all property insurance rate filings for at least 30 days before issuing a notice of hearing, with comments to be shared with the Rate Bureau.

Grants the Insurance Commissioner authority to specify allowable rate levels between existing and proposed rates when finding a filing does not comply with applicable law, requiring findings of fact based on evidence presented.

Adds reinsurance costs as a ratable factor in property insurance rates, allowing consideration of reinsurer payments, ceding commissions, expected recoveries, and North Carolina's catastrophic exposure relative to other states.

Requires the Rate Bureau to develop an optional policy form or endorsement for residential property insurance that excludes coverage for windstorm and hail perils, with required notice to policyholders.

Mandates the Rate Bureau and Department of Insurance study current geographic rating territories to assess whether risks are fairly classified and whether alternative rating systems are feasible, with final report due to the 2013 General Assembly.