A BILL TO BE ENTITLED
AN ACT to authorize the commissioner of insurance to consider the reserves of an insurer when reviewing the rates filed by an insurer.
The General Assembly of North Carolina enacts:
SECTION 1.  G.S. 58‑51‑95(a) reads as rewritten:
"§ 58‑51‑95.  Approval by Commissioner of forms, classification and rates; hearing; exceptions.
(a)	No policy of insurance against loss or expense from the sickness, or from the bodily injury or death by accident of the insured shall be issued or delivered to any person in this State nor shall any application, rider or endorsement be used in connection therewith until a copy of the form thereof and of the premium rates, classification of risks, and reserves, or, in the case of cooperatives or assessment companies the estimated cost pertaining thereto, have been filed with the Commissioner."
SECTION 2.  G.S. 58‑51‑95(c) reads as rewritten:
"(c)	The Commissioner may within 90 days after the filing of any such form, disapprove such form
(1)	If the benefits provided therein are unreasonable in relation to the premium charged, or
(2)	If it contains a provision or provisions which are unjust, unfair, inequitable, misleading, deceptive or encourage misrepresentation of such policy.
(3)	If, after considering other factors, the level of the insurer's reserves exceeds the amount necessary to maintain the health of the company."
SECTION 3.  This act is effective when it becomes law and applies to rate filings submitted to the Commissioner on and after that date.