Bill > S125

This bill amends the insurance rate-making laws in North Carolina. It allows insurance companies to consider investment income from capital and surplus when setting rates. It prohibits insurance companies from conditioning policy acceptance or renewal on the purchase of optional policy enhancements. The bill also modifies the definition of "conviction" for the purposes of applying surcharges to drivers' insurance policies, and it increases the maximum surcharge period for certain convictions. Additionally, the bill creates an "inexperienced safe driver discount" for drivers with at least three years of experience and no accidents or convictions. The Department of Insurance is required to conduct public outreach on the impact of these changes on insurance premiums.

https://www.ncleg.gov/BillLookUp/2023/S125