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North Carolina Allows NCRB Members to Use Homeowners "Enhancements"

July 23, 2015 AAIS Advisory notice

A new law in North Carolina allows member insurers of the North Carolina Rate Bureau (NCRB) to incorporate endorsement options as "enhancements" to their homeowners and personal auto policies, provided the endorsements do not alter coverage provided in policy forms or provisions under the jurisdiction of the NCRB.

Any endorsement intended for use as a policy enhancement, along with any corresponding premium charge, must be filed with and approved by the state's insurance commissioner before being used. 

Also, an insurer cannot require acceptance of a policy enhancement as a condition for granting or renewing a policy, or as an underwriting criterion.

The law is effective immediately.

AAIS Advisory notices are posted periodically to announce AAIS product developments, and to provide news items that are relevant to our program users. Advisory notices are news summaries that paraphrase documents which should be consulted directly for complete, authoritative information. 

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