North Carolina 2017-2018 Session Status: In Committee 4 R cosponsors

SB 284 — Property Insurance Fairness.

Last action — Passed 1st Reading

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  1. ✓
    Introduced
  2. 2
    In Committee
  3. 3
    Passed Senate
  4. 4
    Passed House
  5. 5
    To Executive
  6. 6
    Enacted

This bill died with 2017-2018 Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.

Bill Text

What changed in the latest version

73 added · 74 removed

Plain-language change summary

In the updated version of Senate Bill 284, a new section has been added that allows the North Carolina Department to share aggregated information from property insurers when a court orders the release of confidential data. This change ensures that insurers receive at least 10 business days' notice before their confidential information is disclosed. This matters because it fosters transparency while still protecting sensitive information, thereby balancing the needs of insurers and the public.

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FILED SENATE GENERAL ASSEMBLY OF NORTH CAROLINA Mar 15, 2017 S.B.
GENERAL ASSEMBLY OF NORTH CAROLINA SESSION 2017 S 1 SENATE BILL 284 Short Title:
284 SESSION 2017 PRINCIPAL CLERK S D SENATE BILL DRS45194-MH-26 (01/25) Short Title:
Senators Brown, Cook, and Rabon (Primary Sponsors).
Senators Brown, Cook, Rabon (Primary Sponsors);
Dunn, B.
Jackson, Lee, and Sanderson.
A BILL TO BE ENTITLED AN ACT TO INCREASE THE FAIRNESS AND EQUITY OF PROPERTY INSURANCE RATE MAKING IN NORTH CAROLINA BY REQUIRING THAT CERTAIN PROPERTY INSURANCE DATA BE MADE AVAILABLE TO THE PUBLIC;
Rules and Operations of the Senate March 16, 2017 A BILL TO BE ENTITLED AN ACT TO INCREASE THE FAIRNESS AND EQUITY OF PROPERTY INSURANCE RATE MAKING IN NORTH CAROLINA BY REQUIRING THAT CERTAIN PROPERTY INSURANCE DATA BE MADE AVAILABLE TO THE PUBLIC;
66-152 and shall be treated as confidential information by the Department.
66-152 and shall be treated as confidential information by the *S284-v-1* General Assembly Of North Carolina Session 2017 Department.
However, once the information from all property insurers is aggregated, then the *DRS45194-MH-26* General Assembly Of North Carolina Session 2017 Department may provide such aggregated information in accordance with this subsection.
However, once the information from all property insurers is aggregated, then the Department may provide such aggregated information in accordance with this subsection.
8 PART II.
9 PART II.
Page 2 DRS45194-MH-26 [v.34] (01/17) General Assembly Of North Carolina Session 2017 (6) Catastrophe recovery charge.
Page 2 Senate Bill 284-First Edition General Assembly Of North Carolina Session 2017 (6) Catastrophe recovery charge.
Members of the Authority Board shall disclose to the Board and set forth in the Board’s minutes direct or indirect interests in contracts with the Authority held by (i) the member or (ii) any firm or corporation, not including units of local government or the Association, that employs the member as an officer or employee or in which the member DRS45194-MH-26 [v.34] (01/17) Page 3 General Assembly Of North Carolina Session 2017 has an ownership interest.
Members of the Authority Board shall disclose to the Board and set forth in the Board’s minutes direct or indirect interests in contracts with the Authority held by (i) the member or (ii) any firm or corporation, not including units of local government or the Association, that employs the member as an officer or employee or in which the member Senate Bill 284-First Edition Page 3 General Assembly Of North Carolina Session 2017 has an ownership interest.
(7) To contract for the services of consulting attorneys and other consultants, to employ administrative staff as may be required in the judgment of the Authority, and to fix and pay fees or compensation to the contractors and administrative employees from funds available to the Authority, provided that financial advisors, underwriters, placement agents, feasibility consultants, and bond counsel shall be selected by the Association since the Page 4 DRS45194-MH-26 [v.34] (01/17) General Assembly Of North Carolina Session 2017 cost thereof, whether paid from proceeds or otherwise, will be attributable to the deficit.
(7) To contract for the services of consulting attorneys and other consultants, to employ administrative staff as may be required in the judgment of the Authority, and to fix and pay fees or compensation to the contractors and administrative employees from funds available to the Authority, provided that financial advisors, underwriters, placement agents, feasibility consultants, and bond counsel shall be selected by the Association since the Page 4 Senate Bill 284-First Edition General Assembly Of North Carolina Session 2017 cost thereof, whether paid from proceeds or otherwise, will be attributable to the deficit.
DRS45194-MH-26 [v.34] (01/17) Page 5 General Assembly Of North Carolina Session 2017 (b) In addition to swap agreements permitted by Article 13 of Chapter 159 of the General Statutes, in connection with or incidental to the acquisition or carrying of any investment relating to bonds, program of investment relating to bonds, or carrying of bonds, the Authority may, with the approval of the Local Government Commission, enter into a contract to place the investment or obligation of the Authority, as represented by the bonds, investment, or program of investment and the contract or contracts, in whole or in part, on an interest rate, currency, cash flow, or other basis, including the following:
Senate Bill 284-First Edition Page 5 General Assembly Of North Carolina Session 2017 (b) In addition to swap agreements permitted by Article 13 of Chapter 159 of the General Statutes, in connection with or incidental to the acquisition or carrying of any investment relating to bonds, program of investment relating to bonds, or carrying of bonds, the Authority may, with the approval of the Local Government Commission, enter into a contract to place the investment or obligation of the Authority, as represented by the bonds, investment, or program of investment and the contract or contracts, in whole or in part, on an interest rate, currency, cash flow, or other basis, including the following:
Page 6 DRS45194-MH-26 [v.34] (01/17) General Assembly Of North Carolina Session 2017 (1) For the Authority to take assignment, without recourse, of the Association's obligations to pay claims with respect to insurance policies issued by the Association.
Page 6 Senate Bill 284-First Edition General Assembly Of North Carolina Session 2017 (1) For the Authority to take assignment, without recourse, of the Association's obligations to pay claims with respect to insurance policies issued by the Association.
DRS45194-MH-26 [v.34] (01/17) Page 7 General Assembly Of North Carolina Session 2017 "§ 58-45A-55.
Senate Bill 284-First Edition Page 7 General Assembly Of North Carolina Session 2017 "§ 58-45A-55.
With such notice the Association shall provide evidence with Page 8 DRS45194-MH-26 [v.34] (01/17) General Assembly Of North Carolina Session 2017 respect to its estimates of the total losses and loss expenses, including loss adjustment expenses, the Association expects to incur within the calendar year and the amounts available to it from surplus, reinsurance, and other sources of funding, including member company assessments, with such availability determined by taking into account sources committed with respect to losses and loss expenses, including loss adjustment expenses, expected from prior events.
With such notice the Association shall provide evidence with Page 8 Senate Bill 284-First Edition General Assembly Of North Carolina Session 2017 respect to its estimates of the total losses and loss expenses, including loss adjustment expenses, the Association expects to incur within the calendar year and the amounts available to it from surplus, reinsurance, and other sources of funding, including member company assessments, with such availability determined by taking into account sources committed with respect to losses and loss expenses, including loss adjustment expenses, expected from prior events.
– The Association shall report quarterly to the Commissioner and the Recovery Finance Authority providing all financial information for each catastrophe recovery DRS45194-MH-26 [v.34] (01/17) Page 9 General Assembly Of North Carolina Session 2017 charge authorized by this section, including total catastrophe recovery charge funds recovered to date and any information reasonably requested by the Commissioner.Commissioner or the Recovery Finance Authority.
– The Association shall report quarterly to the Commissioner and the Recovery Finance Authority providing all financial information for each catastrophe recovery Senate Bill 284-First Edition Page 9 General Assembly Of North Carolina Session 2017 charge authorized by this section, including total catastrophe recovery charge funds recovered to date and any information reasonably requested by the Commissioner.Commissioner or the Recovery Finance Authority.
"(1) "Municipality" means a county, city, town, incorporated village, sanitary district, metropolitan sewerage district, metropolitan water district, metropolitan water and sewerage district, county water and sewer district, water and sewer authority, hospital authority, hospital district, parking authority, special airport district, special district created under Article 43 of Chapter 105 of the General Statutes, regional public transportation authority, regional transportation authority, regional natural gas district, regional sports Page 10 DRS45194-MH-26 [v.34] (01/17) General Assembly Of North Carolina Session 2017 authority, airport authority, joint agency created pursuant to Part 1 of Article 20 of Chapter 160A of the General Statutes, a joint agency authorized by agreement between two cities to operate an airport pursuant to G.S.
"(1) "Municipality" means a county, city, town, incorporated village, sanitary district, metropolitan sewerage district, metropolitan water district, metropolitan water and sewerage district, county water and sewer district, water and sewer authority, hospital authority, hospital district, parking authority, special airport district, special district created under Article 43 of Chapter 105 of the General Statutes, regional public transportation authority, regional transportation authority, regional natural gas district, regional sports Page 10 Senate Bill 284-First Edition General Assembly Of North Carolina Session 2017 authority, airport authority, joint agency created pursuant to Part 1 of Article 20 of Chapter 160A of the General Statutes, a joint agency authorized by agreement between two cities to operate an airport pursuant to G.S.
58-45-47, including covenanting to make such charges as necessary for the payment of DRS45194-MH-26 [v.34] (01/17) Page 11 General Assembly Of North Carolina Session 2017 revenue bonds, and (ii) pledge and assign its rights to the making, revising, receiving, and enforcing of such changes as security for its revenue bonds." SECTION 2.8.
58-45-47, including covenanting to make such charges as necessary for the payment of Senate Bill 284-First Edition Page 11 General Assembly Of North Carolina Session 2017 revenue bonds, and (ii) pledge and assign its rights to the making, revising, receiving, and enforcing of such changes as security for its revenue bonds." SECTION 2.8.
The general design and plan of any revenue bond project undertaken for water systems or facilities or sewage disposal systems or facilities shall be subject to the approval of the Commission for Public Health or the State Environmental Management Commission to the same extent that such projects would be if they were not financed by revenue bonds, and the provisions of the revenue bond order shall be consistent with any requirements imposed on the Page 12 DRS45194-MH-26 [v.34] (01/17) General Assembly Of North Carolina Session 2017 project by the Commission for Public Health or the State Environmental Management Commission.
The general design and plan of any revenue bond project undertaken for water systems or facilities or sewage disposal systems or facilities shall be subject to the approval of the Commission for Public Health or the State Environmental Management Commission to the same extent that such projects would be if they were not financed by revenue bonds, and the provisions of the revenue bond order shall be consistent with any requirements imposed on the Page 12 Senate Bill 284-First Edition General Assembly Of North Carolina Session 2017 project by the Commission for Public Health or the State Environmental Management Commission.
All references to "the Beach Plan" shall mean the Coastal Property Insurance Pool, which is the market of last resort which is DRS45194-MH-26 [v.34] (01/17) Page 13 General Assembly Of North Carolina Session 2017 governed by the North Carolina Insurance Underwriting Association and is provided by the Association to the beach area and the coastal area." 4 PART V.
All references to "the Beach Plan" shall mean the Coastal Property Insurance Pool, which is the market of last resort which is Senate Bill 284-First Edition Page 13 General Assembly Of North Carolina Session 2017 governed by the North Carolina Insurance Underwriting Association and is provided by the Association to the beach area and the coastal area." 4 PART V.
For the purposes of this section, the term "home elevation" means any activity that involves the raising or elevating of an entire residential or noncommercial structure to a higher level above the ground." Page 14 DRS45194-MH-26 [v.34] (01/17) General Assembly Of North Carolina Session 2017 SECTION 6.(b) This section becomes effective January 1, 2018.
For the purposes of this section, the term "home elevation" means any activity that involves the raising or elevating of an entire residential or noncommercial structure to a higher level above the ground." Page 14 Senate Bill 284-First Edition General Assembly Of North Carolina Session 2017 SECTION 6.(b) This section becomes effective January 1, 2018.
DRS45194-MH-26 [v.34] (01/17) Page 15
Senate Bill 284-First Edition Page 15
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Action History

  1. Passed 1st Reading

  2. Ref To Com On Rules and Operations of the Senate

  3. Filed

Sponsors

Sponsorship breakdown

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2 sponsors · 6 co-sponsors · 171 not signed on

Sponsors (2)

  • Cook
  • Brown

Co-sponsors (6)

Not signed on (171)

171 members have not signed on to this bill.

Show all 171 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

public-safety housing
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

Who sponsors SB 284?
SB 284 is sponsored by Norman W. Sanderson (Republican), Bill Rabon (Republican), Horner, Dunn, Cook, Brown, Brent Jackson (Republican), and Michael V. Lee (Republican).
What is the current status of SB 284?
This bill died with 2017-2018 Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track SB 284?
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