NC H356

Repeals G.S. 58-63-15(8)b.4. and G.S. 58-63-16, consolidating insurance rebate regulations into a single statute

Allows insurers and producers to offer value-added products or services at no or reduced cost when related to insurance coverage, including loss mitigation, claim cost reduction, health enhancement, financial wellness education, and risk assessment

Permits noncash gifts, meals, or charitable donations up to $250 per policy term, and allows drawings or raffles with prizes up to $250 if open to the public with no purchase requirement

Authorizes pilot programs up to one year for new value-added services where insurers have good-faith belief the service meets criteria, requiring Department notification with 21 days to object

Prohibits advertising insurance as "free" or "no cost" effective January 1, 2027; remainder of act effective upon becoming law