NC S457

Allows automobile insurers writing private passenger vehicle insurance to opt out of the state's Safe Driver Incentive Plan (SDIP) and implement their own insurer-specific driver incentive plans starting September 1, 2016.

Requires insurer-specific plans to distinguish among various classes of drivers based on safe driving records, at-fault accidents, traffic violations, or combinations thereof, with premium differentials including surcharges and discounts.

Insurers must notify the Commissioner of their election to opt out using a prescribed form, file their plan with the Commissioner before implementation, and provide 30 days' notice before amending the plan.

The insurer-specific plan applies only to drivers, risks, and coverages retained by the insurer and not ceded to the North Carolina Reinsurance Facility; insurers making no election must implement the standard Safe Driver Incentive Plan filed by the North Carolina Rate Bureau.

Exempts drivers, risks, and coverages covered by insurer-specific plans from the requirements and provisions of the state's standard Safe Driver Incentive Plan.