NC S691

Creates a Joint Legislative Study Committee on Insurance Rate Making composed of 10 members: 5 House members appointed by the Speaker and 5 Senate members appointed by the President Pro Tempore.

Committee shall examine the structure, function, and operations of the Rate Bureau regarding auto and property insurance rate making, with focus on market conditions and whether a Rate Bureau is still necessary given it no longer exists in other states.

Committee shall investigate "consent to rate" deviations under G.S. 58-36-30(b), evaluate whether current usage aligns with intended purpose, and identify alternatives to protect property owners and drivers while maintaining adequate insurance market choice.

Committee may exercise powers under G.S. 120-19 through 120-19.4, meet as needed upon call of cochairs, and receive professional staff support from the Legislative Services Commission and clerical staff from Senate and House.

Committee shall submit final report with findings and legislative recommendations to the General Assembly when it reconvenes in 2016, after which the Committee terminates.