§ 58‑36‑87.  Affiliate transfer of policies.

Delivery by an insurer of a policy superseding a policy previously issued by the insurer at the end of the previously issued policy period is not a refusal to renew when it is delivered by:

(1) The same insurer; or

(2) An affiliate or subsidiary, as those terms are defined in G.S. 58‑19‑5, that has a financial strength rating, issued by an industry‑recognized independent insurance rating company, which financial strength rating is at least as good as the insurer issuing the superseded policy. The provisions of G.S. 58‑36‑110 and G.S. 58‑36‑85 apply to the affiliate or subsidiary as if it were the same insurer issuing the policy. (2015‑264, s. 44.5(a); 2016‑78, s. 6.2.)