North Carolina General Statutes 58-36-42. Development of policy form or endorsement for residential property insurance that does not include coverage for perils of windstorm or hail
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Terms Used In North Carolina General Statutes 58-36-42
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- property: shall include all property, both real and personal. See North Carolina General Statutes 12-3
With respect to residential property insurance under its jurisdiction, the Bureau shall develop an optional policy form or endorsement to be filed with the Commissioner for approval that provides residential property insurance coverage in the coastal and beach areas defined in N.C. Gen. Stat. § 58-45-5(2) and (2b) without coverage for the perils of windstorm or hail. Insurers that sell such policies shall comply with the provisions of N.C. Gen. Stat. § 58-44-60 and through such compliance shall be deemed to have given notice to all insured and persons claiming benefits under such policies that such policies do not include coverage for the perils of windstorm or hail. (2012-162, s. 4; 2013-199, s. 8.)