Section 58-36-43 - [Effective 1/1/2025] Optional program enhancements authorized not altering coverage under Rate Bureau jurisdiction(a) Member companies writing private passenger automobile or homeowners' insurance under this Article may incorporate optional enhancements to their automobile and homeowners' programs as an endorsement to an automobile or homeowners' policy issued under this Article if the insurer has filed the proposed enhancement with the Commissioner and if the proposed enhancement is approved by the Commissioner. Any approved optional enhancements shall be considered outside the authority of the Rate Bureau. If the proposed enhancement will include an additional premium charge, the proposed premium charge shall be included with the proposed program enhancements filed with the Commissioner. The Commissioner shall review the proposed premium charges and approve them if the Commissioner finds that they are based on sound actuarial principles. Amendments to private passenger automobile or homeowners' program enhancements are subject to the same requirements as initial filings. A company shall not condition (i) the acceptance or renewal of a policy, (ii) any underwriting criteria, or (iii) any rating criteria upon the acceptance by the policyholder of any optional automobile or homeowners' enhancements authorized by this section. A rate amendment authorized by this section is not a rate deviation and is not subject to the requirements for rate deviations set forth in G.S. 58-36-30(a).
N.C. Gen. Stat. § 58-36-43
Amended by 2023 N.C. Sess. Laws 133,s. 16-c, eff. 1/1/2025.Amended by 2023 N.C. Sess. Laws 133,s. 16-b, eff. 1/1/2025.Amended by 2022 N.C. Sess. Laws 46, s. 11, eff. 7/7/2022.Added by 2015 N.C. Sess. Laws 146, s. 5, eff. 7/1/2015.This section is set out more than once due to postponed, multiple, or conflicting amendments.