North Carolina § 58-48-10 - Scope.

§ 58-48-10. Scope.

This Article shall apply to all kinds of direct insurance, but shall not be applicable to: Life, annuity, accident and health or disability insurance; Mortgage guaranty, financial guaranty or other forms of insurance offering protection against investment risks; Fidelity or surety bonds, or any other bonding obligations; Credit insurance, vendors' single interest insurance, collateral protection insurance, or any similar insurance protecting the interests of a creditor arising out of a creditor-debtor transaction; Insurance of warranties or service contracts; Title insurance; Ocean marine insurance; Repealed by Session Laws 1991 (Regular Session, 1992), c. 802, s. 1, effective January 1, 1993. Any transaction or combination of transactions between a person (including affiliates of such person) and an insurer (including affiliates of such insurer) which involves the transfer of investment or credit risk unaccompanied by transfer of insurance risk; Insurance written on a retroactive basis to cover known or unknown losses which have resulted from an event with respect to which a claim has already been made, and the claim is known to the insurer at the time the insurance is bound. History (1971, c. 670, s. 1; 1989, c. 206, s. 1; 1991 (Reg. Sess., 1992), c. 802, s. 1.)