North Carolina Administrative Code
Title 11 - INSURANCE
Chapter 04 - CONSUMER SERVICES DIVISION
Section .0300 - LIFE: ACCIDENT AND HEALTH
Section 04 .0316 - CONTESTABILITY CLAUSE AND RESCISSION
Universal Citation: 11 NC Admin Code 04 .0316
Current through Register Vol. 39, No. 6, September 16, 2024
If an insurer does not attempt to rescind an accident, health, or disability policy upon becoming aware that the insured's application contained false statements, the insurer may not subsequently use such false statements as a basis for attempted rescission or alteration of the policy. The Commissioner shall consider failure to adhere to this principle an unfair trade practice pursuant to G.S. 58-63-15.
Authority
G.S.
58-2-40;
58-63-40;
58-65-1;
58-63-15;
58-65-40;
Eff.
December 15, 1979;
Readopted Eff. December 1,
2021.
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