11 NCAC 16 .0203             CONDITIONALLY RENEWABLE STATED REASON PROHIBITED

For policies or riders permitting the adjustment of premiums for which the insurer retains the right to nonrenew, the following reason or any synonymous reasons given for nonrenewal are no longer appropriate and are therefore disallowed:

 

"The insurer is prevented by any law, or any regulation, or any ruling of a government agency from using a table of premium rates that the insurer has certified as being reasonable in relation to the benefits provided under the policy."

 

History Note:        Authority G.S. 58‑2‑40; 58‑51‑20;

Eff. March 1, 1992.