Mandatory Surcharge Update: NC Commercial Auto Loss Recoupment
The NC Reinsurance Facility is required by law to recover excess losses on business automobile insurance it provides. Effective October 1, 2018 this will result in a surcharge of 7.07% to all commercial auto policies in NC. This is a reduction from a previously announced 14.63% surcharge, due to improved loss experience. All commercial auto policyholders will see this reflected in their premiums for the 2018-2019 policy term.