NC S668

Allows insurance companies writing private automobile and homeowners' insurance in North Carolina to offer optional program enhancements as policy endorsements if approved by the Commissioner.

Optional enhancements must be filed with the Commissioner for approval and are considered outside the authority of the Rate Bureau, with any associated premium charges subject to Commissioner review based on sound actuarial principles.

Prohibits insurers from conditioning policy acceptance, renewal, or underwriting rating criteria on a policyholder's acceptance of optional enhancements.

Requires insurers to use separate statistical codes for reporting premiums and losses from program enhancements to prevent commingling with rate-making data.

Becomes effective July 1, 2015, and applies to optional enhancements filed and approved on or after that date.