Section 58-36-87 - Affiliate transfer of policiesDelivery by an insurer of a policy superseding a policy previously issued by the insurer at the end of the previously issued policy period is not a refusal to renew when it is delivered by:
(2) An affiliate or subsidiary, as those terms are defined in G.S. 58-19-5, that has a financial strength rating, issued by an industry-recognized independent insurance rating company, which financial strength rating is at least as good as the insurer issuing the superseded policy. The provisions of G.S. 58-36-110 and G.S. 58-36-85 apply to the affiliate or subsidiary as if it were the same insurer issuing the policy.N.C. Gen. Stat. § 58-36-87
Added by 2015 N.C. Sess. Laws 264,s. 44.5-a, eff. 10/1/2015. See 2016 N.C. Sess. Laws 78, s. 6.2.