§ 58-48-10. Scope. - North Carolina Statutes

§58‑48‑10.  Scope.

This Article shall apply toall kinds of direct insurance, but shall not be applicable to:

(1)        Life, annuity,accident and health or disability insurance;

(2)        Mortgage guaranty,financial guaranty or other forms of insurance offering protection againstinvestment risks;

(3)        Fidelity or suretybonds, or any other bonding obligations;

(4)        Credit insurance,vendors' single interest insurance, collateral protection insurance, or anysimilar insurance protecting the interests of a creditor arising out of acreditor‑debtor transaction;

(5)        Insurance ofwarranties or service contracts;

(6)        Title insurance;

(7)        Ocean marineinsurance;

(8)        Repealed by SessionLaws 1991 (Regular Session, 1992), c. 802, s. 1.

(9)        Any transaction orcombination of transactions between a person (including affiliates of suchperson) and an insurer (including affiliates of such insurer) which involvesthe transfer of investment or credit risk unaccompanied by transfer ofinsurance risk;

(10)      Insurance written ona retroactive basis to cover known or unknown losses which have resulted froman event with respect to which a claim has already been made, and the claim isknown to the insurer at the time the insurance is bound. (1971,c. 670, s. 1; 1989, c. 206, s. 1; 1991 (Reg. Sess., 1992), c. 802, s. 1.)