11 NCAC 10 .0313. ENDORSEMENTS TO BUREAU RESIDENTIAL PROGRAMS

(a)  For the purposes of G.S. 58-41-10(a), a "residential risk" is a risk covered under any of the following North Carolina Rate Bureau residential programs:  Homeowners Program, Dwelling Fire and Extended Coverage Program, Mobile Home Owner (C) Program, and Mobile-Homeowners (F) Program.

(b)  When an insurance company, joint underwriting association, advisory organization, or rating organization files an endorsement to attach to a North Carolina Rate Bureau residential program, which endorsement provides coverage that is not subject to the jurisdiction of the Bureau and is exempt from Article 41 of Chapter 58 of the General Statutes by virtue of G.S. 58-41-10(a), the filing entity shall:

(1)           provide a copy of the filing to the North Carolina Rate Bureau;

(2)           utilize a statistical code for reporting premiums and losses and advise on what line on page 14 of the annual statement this data will be reported;

(3)           complete a forms questionnaire; and

(4)           submit the rates separately without a rate questionnaire.

 

History Note:        Authority G.S. 58-2-40; 58-3-150; 58-40-30;

Eff. December 1, 1994.