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NC S137
Bill
Status
2/28/2017
Primary Sponsor
Wesley Meredith
Click for details
AI Summary
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Requires North Carolina auto insurance surcharges imposed by the Motor Vehicle Reinsurance Facility to be clearly itemized and displayed to policyholders on the declaration page or renewal notice at time of policy issuance and renewal.
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Mandates surcharges be displayed separately 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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Changes current law that combined surcharges with and displayed them as part of applicable premium charges to instead require itemized display for transparency purposes.
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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 Rules and Operations of the Senate
3/1/2017