North Carolina Moves Viatical Bill Forward

NU Online News Service, Aug. 17, 2:59 p.m. – The North Carolina Senate Insurance and Consumer Protection Committee is pondering H.B. 359, a bill that would rewrite the state viatical settlements law to conform to a model law approved last year by the National Association of Insurance Commissioners, Kansas City, Mo.

The bill, cosponsored by Reps. Jerry C. Dockham, R-Raleigh, and John Hurley, D-Raleigh, would, among other things, require companies offering viatical settlements to file annual financial statements, disclose possible alternatives to viatical settlements and provide an unconditional refund provision.