2015 North Carolina General Statutes
Chapter 58 - Insurance.
Article 36 - North Carolina Rate Bureau.
§ 58-36-87 - (Expires June 30, 2016) Affiliate transfer of policies.
58-36-87. (Expires June 30, 2016) 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independent insurance rating company, which financial strength rating is at least as good as the insurer issuing the superseded policy.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).)
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