North Dakota § 26.1-30.1-07 Renewal of insurance with altered rates

North Dakota Statutes

§ 26.1-30.1-07 — Renewal of insurance with altered rates

North Dakota § 26.1-30.1-07

Title 26.1Insurance

Ch. 26.1-30.1Cancellation and Nonrenewal of Commercial Insurance

This text of North Dakota § 26.1-30.1-07 (Renewal of insurance with altered rates) is published on Counsel Stack Legal Research, covering North Dakota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.D. Cent. Code § 26.1-30.1-07 (2026).

Text

1.Subject to subsection 2, if the insurer offers or purports to renew a policy at less favorable terms as to the dollar amount of coverage or deductibles or increases the rates in excess of fifteen percent, the new terms and new rates may take effect on the renewal date if the insurer has sent to the policyholder notice of the new terms and rates at least ten days prior to the expiration date. If the insurer has not so notified the policyholder, the policyholder may elect to cancel the renewal policy within the ten-day period after receipt of the notice. Earned premium for the period of coverage, if any, must be calculated on a pro rata basis and the rates must be based on the previous policy term.

2.Subsection 1 does not apply if the change relates to guide "A" rates or excess rates als

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1. Subject to subsection 2, if the insurer offers or purports to renew a policy at less
favorable terms as to the dollar amount of coverage or deductibles or increases the
rates in excess of fifteen percent, the new terms and new rates may take effect on the
renewal date if the insurer has sent to the policyholder notice of the new terms and
rates at least ten days prior to the expiration date. If the insurer has not so notified the
policyholder, the policyholder may elect to cancel the renewal policy within the ten-day
period after receipt of the notice. Earned premium for the period of coverage, if any,
must be calculated on a pro rata basis and the rates must be based on the previous
policy term.
2. Subsection 1 does not apply if the change relates to guide "A" rates or excess rates
also known as "consent to rate".