Consent to Rate
What is Consent to Rate?
What is when an insurer charges a policyholder a premium higher than the state-approved rate, requiring the insured's consent to proceed with coverage
What is the purpose of the Reinsurance Facility?
What is allowing all drivers, even high risk, to have access to liability insurance?
What type of continuous coverage is mandatory in North Carolina?
What is liability coverage?
Does North Carolina utilize the youthful indicator field?
No
What is the best resource to use to identify any recent revisions to North Carolina?
What is State Books/Auto Bulletins?
What tab in the auto master status sheet displays information about consent to rate?
What is the RP tab?
What company are facility policies transferred to?
What is company 4 (HMIC)?
What must an insured surrender before canceling a policy?
What is license plate or tags?
What qualifies a driver to be inexperienced?
What is less than 3 years of driving experience (regardless of age)?
What form is also known as the certificate of liability insurance?
What is FS-1?
What does NCRB stand for?
What is North Carolina Rate Bureau?
What code helps us determine that a policy has been ceded to facility?
What is the Kind code?
What amount does North Carolina charge when an insured's policy lapses (first offense)?
What is $50?
What occurs when rating an inexperienced driver as occasional operator of a vehicle in a household?
What is the household cedes to facility?
What form must an unlicensed driver take to their driver's license test?
What is DL-123?
What acts as consent when the customer's renewal exceeds the North Carolina allowable rate?
What is client's payment of premium?
What percentage of North Carolina drivers are considered high risk?
What is 25%?
If an insured obtains insurance elsewhere effective 12/1, what date would we process a cancellation?
What is 11/30 or the day before?
What two fields are different when quoting primary vs occasional operators?
What are the IE and Class fields?
What form is used to notify the state of a canceled policy?
What is FS-4?
What two fields in POE reflect that the customer is affected by consent to rate?
What are the RCP and COMPANY fields?
What two discounts are policies in facility eligible for?
What are safety features and multi-car?
What should be included in the notes for a cancellation of a sold vehicle?
What is the date the vehicle was sold, confirmation that the tags/plates were transferred and CPR effective date?
What factor can be manually updated to reflect experience on 1 and 2 year driver anniversaries?
What is inexperience factor?
What system will be used to access the FS-1 and FS-4 forms?
What is POE/Online Forms?