11 NCAC 10 .1205 ESSENTIAL LINES - N.C. RATE BUREAU (BUREAU)
(a) All policy forms used by members of the North Carolina Rate Bureau shall be filed by the bureau and approved by the commissioner prior to their use.
(b) When the bureau is filing a modification to an existing form, it will provide a "side‑by‑side" comparison of the old and proposed form(s) and explain all broadenings and restrictions of coverage.
(c) The bureau will provide the following information either in the letter of transmittal or as a filing memorandum:
(1) the subject of the filing by name, identification number or both;
(2) the purpose of the filing;
(3) the proposed effective date and rule of implementation;
(4) summary of the changes proposed by the filing;
(5) statement that the filing meets statutory requirements.
(d) Any dividend or participating endorsement to be used with a workers' compensation policy should be filed directly with this department in accordance with G.S. 58-3-150.
History Note: Authority G.S. 58-2-40; 58-3-150; 58-36-55; 58-36-60;
Eff. January 1, 1989;
Amended Eff. April 8, 2002;
Pursuant to G.S. 150B-21.3A, rule is necessary without substantive public interest Eff. January 3, 2017.