North Carolina: Modernization Efforts Gaining Momentum

Last week was an exciting time for insurance industry representatives lobbying in North Carolina. On Tuesday, SB 900 and HB 1299, requiring disclosure of the auto recoupment surcharge, passed their respective House and Senate committees.

NAMIC Southeast State Affairs Manager Liz Reynolds contacted committee members by e-mail and phone asking that they vote “yes” on the bills. She also was present for committee discussion and to provide support to “on-the-ground” lobbyists from the Insurance Federation of North Carolina and various companies.

Commissioner Jim Long had spoken against the measure in media interviews and attempted during the Senate Commerce Committee meeting to “muddy the waters” by suggesting that information such as how many policies a company cedes to the North Carolina Reinsurance Facility should also be disclosed on premium notices.

However, Long was forced to agree when Democratic Chairman R. C. Soles, Jr., asked for clarification, saying “so, you are in favor of the bill, but you would like for it to be expanded, right?” No amendment to expand the legislation’s scope was presented, and SB 900 was given a favorable report as written.

Senate Bill 900 then went on to pass second and third readings in the Senate on Wednesday, clearing the cross-over deadline set for Thursday to remain alive. It has now been referred to the House Insurance Committee. HB 1298 was re-referred to the Committee on Insurance, therefore, missing the cross-over deadline.

Direct questions to NAMIC State Affairs Manager Liz Reynolds.

Posted: Tuesday, May 29, 2007 12:00:00 AM. Modified: Tuesday, May 29, 2007 12:51:56 PM.

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We are 1,400 property/casualty insurance companies serving more than 135 million auto, home and business policyholders, with more than $196 billion in premiums accounting for 50 percent of the automobile/homeowners market and 31 percent of the business insurance market. We are the largest and most diverse property/casualty trade association in the country, with regional and local mutual insurance companies on main streets across America joining many of the country’s largest national insurers who also call NAMIC their home. More than 200,000 people are employed by NAMIC members.