§ 58-89A-115. Benefit plan notice. - North Carolina Statutes

§ 58‑89A‑115. Benefit plan notice.

(a)        With respect to anyinsurance or benefit plan provided by a licensee for the benefit of itsassigned employees, a licensee shall disclose all of the following informationto the Commissioner and each client company:

(1)        The type ofcoverage.

(2)        The identity of eachinsurer for each type of coverage.

(3)        The amount ofbenefits provided for each type of coverage and to whom or on whose behalfbenefits are to be paid.

(4)        The policy limits oneach insurance policy.

(5)        Whether the coverageis fully insured, partially insured, or fully self‑funded.

(b)        With respect to anyinsurance or benefit plan provided by a licensee for the benefit of itsassigned employees, a licensee shall provide to the insurer the name andaddress of the insurance agent or broker responsible for securing the policy ofinsurance on behalf of the licensee.

(c)        Whenever anyinsurance policy or benefit plan is cancelled, the insurance company writingthe policy shall provide a notice of cancellation as required by this Chapter.

(d)        The licensee shallnotify the client company and the Commissioner in writing about adiscontinuance and replacement, if any, of any health plan or workers'compensation insurance coverage no later than 10 business days after thediscontinuance.

(e)        The Commissioner,by rule, may require a licensee to file other reports that are reasonablynecessary for the administration and enforcement of this Article. (2004‑162, s. 1.)