(a) Member companies writing private passenger automobile, homeowners', dwelling, or residential private flood insurance under this Article may incorporate optional enhancements to these programs as an endorsement to a policy if the insurer has filed the proposed enhancements with the Commissioner and the Commissioner has approved them. Any approved optional enhancements are outside the authority of the Rate Bureau. If a proposed enhancement will include an additional premium charge, the proposed premium charge shall be included with the proposed program enhancements filed with the Commissioner. The Commissioner shall review the proposed premium charges and approve them if the Commissioner finds that they are based on sound actuarial principles. Amendments to program enhancements are subject to the same requirements as initial filings. A company shall not condition (i) the acceptance or renewal of a policy, (ii) any underwriting criteria, or (iii) any rating criteria upon the acceptance by the policyholder of any optional enhancements authorized by this section. A rate amendment authorized by this section is not a rate deviation and is not subject to the requirements for rate deviations set forth in G.S. 58-36-30(a). (b) Repealed by S.L. 2023-133, s. 16(c), as amended by S.L. 2024-29, s. 9(b), effective July 1, 2025.
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