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NC S428
Bill
AI Summary
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Requires North Carolina auto insurance surcharges imposed by the Motor Vehicle Reinsurance Facility to be itemized and displayed separately to policyholders, rather than combined with premium charges.
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Mandates surcharges be displayed in substantially the same manner as applicable premium charges in communications with policyholders.
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Applies to motor vehicle insurance policies issued or renewed on or after January 1, 2017.
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Maintains existing provisions regarding recoupment of Facility assessments, agent compensation, and surcharge limitations for nonfleet private passenger motor vehicles.
Legislative Description
Surcharge Transparency
Last Action
Re-ref Com On Insurance
3/30/2015
Committee Referrals
Insurance3/30/2015
Rules and Operations of the Senate3/26/2015
Full Bill Text
No bill text available