North Carolina H720 revises the Insurance Guaranty Association Act, limiting payouts for cybersecurity insurance claims and clarifying the.

North Carolina H720 enacts revisions to the Insurance Guaranty Association Act, focusing on the Association's obligations and powers. It limits the Association's payout for cybersecurity insurance claims to $10,000 per policy and $500,000 for all claims related to a single insured event. The bill also outlines the Association's duty to pay covered claims within specific timeframes and conditions, including those related to workers' compensation.

North Carolina H720 revises the Insurance Guaranty Association Act, limiting payouts for cybersecurity insurance claims and clarifying the.

North Carolina H720 enacts revisions to the Insurance Guaranty Association Act, focusing on the Association's obligations and powers. It limits the Association's payout for cybersecurity insurance claims to $10,000 per policy and $500,000 for all claims related to a single insured event. The bill also outlines the Association's duty to pay covered claims within specific timeframes and conditions, including those related to workers' compensation.