NC S134

Applies to residential property and casualty insurance for properties with not more than four housing units located in North Carolina.

Requires insurers to complete underwriting investigations and bill for proper rating within 90 days of new policy effective date, and prohibits claim denials based on underwriting conducted after the policy effective date and claim presentation.

Prohibits insurers from billing additional premiums after renewal quotations are made for conditions that existed at the time of renewal.

Directs the Commissioner of Insurance to adopt permanent rules consistent with these requirements, with rules to be substantively identical to the bill's provisions.

Becomes effective October 1, 2023, and expires when the Commissioner's permanent rules become effective.