N.C. Gen. Stat. § 58-40-85
Recording and reporting of experience
Redline — June 1, 2021 → current.View current text →
Current — April 1, 2022
As of June 1, 2021
The Commissioner shall promulgate or approve reasonable rules, including rules providing statistical plans, for use thereafter by all insurers in the recording and reporting of loss and expense experience, in order that the experience of such insurers may be made available to him. The Commissioner may designate one or more statistical organizations to assist him in gathering and making compilations of such experience. All insurers, for lines of insurance that require data to be reported, shall report their data to one of these designated statistical organizations.
The Commissioner shall promulgate or approve reasonable rules, including rules providing statistical plans, for use thereafter by all insurers in the recording and reporting of loss and expense experience, in order that the experience of such insurers may be made available to him. The Commissioner may designate one or more statistical organizations to assist him in gathering and making compilations of such experience. All insurers, for lines of insurance that require data to be reported, shall report their data to one of these designated statistical organizations.
History
(1977, c. 828, s. 2; 2005-210, s. 12.)
Effect of Amendments. - Session Laws 2005-210, s. 12, effective October 1, 2005, deleted the former second sentence, which read "No insurer shall be required to record or report its experience on a classification basis with its own rating system."; in the present second sentence, substituted "statistical" for "rating" and added the last sentence.
Official source: North Carolina General Assembly. Reproduced from public-domain North Carolina statutes; confirm against the official source for the current text. Not legal advice.