ND HB1247

Amends North Dakota Century Code sections governing termination of property and automobile insurance to clarify that policy transfers between companies within the same insurance holding company system are not considered terminations.

Allows insurers to terminate original coverage by cancellation or nonrenewal when an insured obtains replacement property insurance providing equal or more extensive coverage for the same property, effective on the second policy's effective date.

Requires insurers to provide written notice of termination by mail or delivery to the named insured and entitle the insured to a refund of premium upon such termination.

Clarifies that reasonable changes in deductibles, insurance amounts, or policy limits directly related to the hazard and made on renewal dates are not considered terminations.

Applied to both property insurance (section 26.1-39) and automobile insurance (section 26.1-40) regulations with parallel amendments.