summary
Introduced
03/09/2017
03/09/2017
In Committee
03/13/2017
03/13/2017
Crossed Over
Passed
Dead
08/27/2018
08/27/2018
Introduced Session
2017-2018 Session
Bill Summary
Surcharge Transparency
AI Summary
This bill, titled "Surcharge Transparency," aims to provide more transparent information to policyholders regarding surcharges on their motor vehicle insurance policies. The key provisions are:
1) It requires that any surcharge imposed by insurance members of the North Carolina Reinsurance Facility (a program that provides coverage for high-risk drivers) be itemized and displayed to the policyholder at the time of policy issuance and renewal, showing the specific "Premium Clean Risk Surcharge" amount.
2) This change applies to motor vehicle insurance policies issued or renewed on or after October 1, 2017, with the goal of making the surcharge more visible and understandable for policyholders.
Committee Categories
Business and Industry
Sponsors (8)
Kevin Corbin (R)*,
Ken Goodman (D)*,
Jon Hardister (R)*,
Stephen Ross (R)*,
George Cleveland (R),
John Faircloth (R),
Larry Pittman (R),
Harry Warren (R),
Last Action
Ref To Com On Insurance (on 03/13/2017)
Official Document
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