North Carolina H356 clarifies permitted trade practices for insurance rebates and gifts.
North Carolina H356 modifies civil and insurance laws, particularly around rebates and gifts offered by insurers and producers. It allows insurers and producers to offer value-added products or services at no or reduced cost if they meet specific criteria, such as being related to insurance coverage and not requiring the purchase of another policy. The bill also permits noncash gifts, items, or services if they are made to customers in connection with insurance contracts, do not exceed $250 per policy term, and are not unfairly discriminatory.
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