H382 - DOI Omnibus. (SL 2018-120)

Overview: S.L. 2018-120 makes various changes to North Carolina's insurance laws as follows:

• Incorporates model act language from the National Association of Insurance Commissioners (NAIC) into North Carolina's Life and Health Insurance Guaranty Association Act.
• Amends the Surplus Lines Act to allow an insurer to be designated a Domestic Surplus Lines Insurer ("DSLI") and be domiciled in and write surplus lines insurance in North Carolina.
• Amends the notice provisions in the consent to rate statute and adds data collection provisions.
• Amends and makes technical changes to other insurance laws, as recommended by the Department of Insurance.

This act was vetoed by the Governor on June 25, 2018, and that veto was overridden by the General Assembly on June 28, 2018. Except as otherwise provided, this act became effective June 28, 2018.