North Carolina Administrative Code (Last Updated: November 13, 2014) |
TITLE 11. INSURANCE |
CHAPTER 16. ACTUARIAL SERVICES DIVISION |
11 NCAC 16 .0202. ACCIDENT AND HEALTH INSURANCE RENEWABILITY DEFINITIONS
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With respect to all individual accident and health insurance in this state, the following renewability definitions, or substantively similar wording as the Commissioner approves, shall be used:
(1) Conditionally Renewable ‑ Renewal may be declined for stated reasons, except for the deterioration of health of an individual insured; provided that the declination applies to all insureds in this state insured under the same policy or rider.
(2) Guaranteed Renewable ‑ Renewal may not be declined by an insurance company for any reason; but the insurance company may revise rates on a class basis.
(3) Noncancelable ‑ Renewal may not be declined nor may rates be revised by an insurance company.
History Note: Authority G.S. 58‑2‑40; 58‑51‑95; 58‑63‑15(7)b.;
Eff. March 1, 1992.