North Carolina Administrative Code
Title 11 - INSURANCE
Chapter 10 - PROPERTY AND CASUALTY DIVISION
Section .1200 - FORMS FILINGS
Section 10 .1204 - PROHIBITED POLICY PROVISIONS
Current through Register Vol. 38, No. 18, March 15, 2024
Policy forms will be disapproved if they contain any of the following kind of policy provisions:
(1) a provisions that the application is a consideration of coverage; unless the application is physically attached to the policy;
(2) a provision that the rules or bylaws of the company are a part of the contract; unless such rules or bylaws are actually written into or physically attached to the policy;
(3) a provision that a portion of the premium becomes due and payable only after the occurrence of a loss, for example, a premium retention policy;
(4) a provision in a liability policy that relieves the company of liability on account of insolvency of the insured;
(5) a provision that knowledge of the agent is not binding on the company;
(6) a provision purporting to limit to less than three years any suit on the contract by the policyholder.
Authority
G.S.
58-2-40;
58-3-10;
58-3-15;
58-7-15;
Eff. January 1, 1989;
Pursuant
to G.S.
150B-21.3A, rule is necessary without substantive public interest Eff.
January 3, 2017.
