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North Carolina General Statutes Chapter 58. Insurance § 58-36-87. Affiliate transfer of policies

Current as of January 01, 2023 | Updated by Findlaw Staff

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independent insurance rating company, which financial strength rating is at least as good as the insurer issuing the superseded policy.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.

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Cite this article: FindLaw.com - North Carolina General Statutes Chapter 58. Insurance § 58-36-87. Affiliate transfer of policies - last updated January 01, 2023 | https://codes.findlaw.com/nc/chapter-58-insurance/nc-gen-st-sect-58-36-87/

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