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NC H317
Bill
Status
3/9/2017
Primary Sponsor
Jonathan Hardister
Click for details
AI Summary
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Requires North Carolina auto insurance surcharges to subsidize the Motor Vehicle Reinsurance Facility to be itemized and displayed separately to policyholders at policy issuance and renewal on the declaration page or renewal notice.
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Mandates surcharges appear below coverage and premium information with the specific language: "The Premium Clean Risk Surcharge is $_____ and is included in your premium above."
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Prohibits combining surcharges with and displaying them as part of applicable premium charges, requiring instead clear itemization for transparency.
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Applies to motor vehicle insurance policies issued or renewed on or after October 1, 2017.
Legislative Description
Surcharge Transparency
Last Action
Ref To Com On Insurance
3/13/2017