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NC H402
Bill
Status
Engrossed
5/4/2023
Primary Sponsor
Sarah Stevens
Click for details
AI Summary
- Increases minimum motor vehicle liability insurance coverage limits in North Carolina from $30,000/$60,000/$25,000 to $50,000/$100,000/$50,000 for bodily injury and property damage
- Updates proof of financial responsibility requirements and deposit amounts from $85,000 to $125,000 for self-insurance certification
- Modifies uninsured and underinsured motorist coverage provisions to allow service of process on insurers as unnamed parties and extends statute of limitations for service of summons
- Applies new insurance limits to rental/leasing motor vehicle companies and the state insurance facility reinsurance program
- Becomes effective October 1, 2023, for policies issued, amended, or renewed on or after that date
Legislative Description
Motor Vehicle Insurance Reform
Liability; Insurance
Last Action
Ref To Com On Rules and Operations of the Senate
5/4/2023
Committee Referrals
Rules and Operations of the Senate5/4/2023
Rules, Calendar, and Operations of the House4/26/2023
Insurance4/19/2023
Judiciary II3/20/2023
Full Bill Text
No bill text available