TAILIEUCHUNG - GENERAL ASSEMBLY OF NORTH CAROLINA SESSION 2007

Government costs for crop insurance have increased substantially in recent years. After ranging between $ and $ billion during FY2000-FY2006, costs rose to $ billion in FY2009 as higher policy premiums from rising crop prices drove up premium subsidies to farmers and expense reimbursements (which are based on total premiums) to private insurance companies. In FY2010, total costs declined to $ billion following a decline in crop prices. Reimbursements and risk-sharing between USDA and private insurance companies are spelled out in a Standard Reinsurance Agreement (SRA), which plays a large role in determining program costs. In 2010, USDA renegotiated the. | GENERAL ASSEMBLY OF NORTH CAROLINA SESSION 2007 SESSION LAW 2008-124 HOUSE BILL 738 AN ACT TO REQUIRE UNINSURED AND UNDERINSURED MOTORIST COVERAGE mAkE technical changes to insurance financial PROVISIONS AMEND THE UNAUTHORIZED INSURER LAWS MAKE TECHNICAL CHANGES TO THE RATE EVASION LAW TO CLARIFY THAT IT APPLIES ONLY TO PRIVATE PASSENGER VEHICLES AND TO ADD A TERMINATION RESTRICTION CONSISTENT WITH . 58-37-50 TO CLARIFY THAT THE RATE EVASION LAW APPLIES TO CEDED AND UNCEDED POLICIES REVISE MANAGED CARE AND HMO RECORD RETENTION LAWS MAKE CHANGES TO THE HEALTH INSURANCE RISK POOL LAWS STRENGTHEN PROFESSIONAL EMPLOYER ORGANIZATION PROTECTIONS MAKE CHANGES TO THE LAW GOVERNING THE CODE OFFICIALS QUALIFICATION BOARD PROHIBIT FREE INSURANCE AND TO MAKE oTher miscellaneous Changes. The General Assembly of North Carolina enacts PART I. UNINSURED AND UNDERINSURED MOTORIST COVERAGE. SECTION . . b 3 and b 4 read as rewritten b Such owner s policy of liability insurance 3 No policy of bodily injury liability insurance covering liability arising out of the ownership maintenance or use of any motor vehicle shall be delivered or issued for delivery in this State with respect to any motor vehicle registered or principally garaged in this State unless coverage is provided therein or supplemental thereto under provisions filed with and approved by the Commissioner of Insurance for the protection of persons insured thereunder who are legally entitled to recover damages from owners or operators of uninsured motor vehicles and hit-and-run motor vehicles because of bodily injury sickness or disease including death resulting therefrom in an amount not to be less than the financial responsibility amounts for bodily injury liability as set forth in . 20 nor greater than one million dollars 1 000 000 as selected by the policy owner. with limits equal to the highest limits of bodily injury liability coverage for any one vehicle insured under the policy. The named

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