58-36-87. Affiliate transfer of policies.
Delivery 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:
(1) The same insurer; or
(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independent insurance rating company, which financial strength rating is at least as good as the insurer issuing the superseded policy.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. (2015-264, s. 44.5(a); 2016-78, s. 6.2.)
Structure North Carolina General Statutes
North Carolina General Statutes
Article 36 - North Carolina Rate Bureau.
§ 58-36-1 - North Carolina Rate Bureau created.
§ 58-36-2 - Private passenger motor vehicles; number of nonfleet policies.
§ 58-36-10 - Method of rate making; factors considered.
§ 58-36-15 - Filing loss costs, rates, plans with Commissioner; public inspection of filings.
§ 58-36-17 - Bureau to share information with the North Carolina Industrial Commission.
§ 58-36-20 - Disapproval; hearing, order; adjustment of premium, review of filing.
§ 58-36-25 - Appeal of Commissioner's order.
§ 58-36-35 - Appeal to Commissioner from decision of Bureau.
§ 58-36-40 - Existing rates, rating systems, territories, classifications and policy forms.
§ 58-36-45 - Notice of coverage or rate change.
§ 58-36-60 - Payment of dividends not prohibited or regulated; plan for payment into rating system.
§ 58-36-70 - Rate filings and hearings for motor vehicle insurance.
§ 58-36-80 - Coverage for damage to rental vehicles authorized.
§ 58-36-85 - Termination of a nonfleet private passenger motor vehicle insurance policy.
§ 58-36-87 - Affiliate transfer of policies.
§ 58-36-95 - Use of nonoriginal crash repair parts.
§ 58-36-105 - Certain workers' compensation insurance policy cancellations prohibited.