RCE Law Changes Effective Aug 2022
Included in Senate Bill 496 (effective August 1, 2022) was a change to NC General Statues to specifically prohibit the requesting of a replacement cost estimator (RCE) from an insurance company or their designated agent.
Violations of this law are subject to investigation and sanction by the NC Department of Insurance.
IIANC offers this one page flyer for our members to provide lenders who may request an RCE because they are unaware of the change to the law.