NC H497

Allows automobile insurers writing nonfleet private passenger motor vehicle insurance to opt out of the statewide Safe Driver Incentive Plan (SDIP) and develop their own insurer-specific driver incentive plans effective September 1, 2016.

Requires insurer-specific plans to distinguish among classes of drivers with safe driving records versus those with at-fault accidents, traffic violations, or both, with premium differentials that may include surcharges and discounts.

Insurers must notify the Commissioner of their election to implement a plan and file the plan before implementation; amendments to the plan apply only to policies written or renewed at least 30 days after filing.

The insurer-specific plan applies only to drivers, risks, and coverages not ceded to the North Carolina Reinsurance Facility, and the statewide SDIP has no effect on insurers that have made an election under this section.