11 NCAC 12 .1011             DISCRETIONARY POWERS OF COMMISSIONER

The Commissioner may, upon written request and after an administrative hearing, issue an order to modify or suspend a specific provision or provisions of this Section with respect to a specific policy upon a written finding that:

(1)        the modification or suspension would be in the best interest of the insureds; and

(2)        the purposes to be achieved could not be effectively or efficiently achieved without the modification or suspension; and

(3)        the modification or suspension is necessary to the development of an innovative and reasonable approach for insuring long‑term care; or

(4)        the policy is to be issued to residents of a continuing care facility or some other residential community for the elderly and the modification or suspension is reasonably related to the special needs or nature of such a community; or

(5)        the modification or suspension is necessary to permit long‑term care insurance to be sold as part of, or in conjunction with, another insurance product.

 

History Note:        Authority G.S. 58‑2‑40(1); 58‑55‑30(a);

Eff. September 1, 1990.