North Carolina passes new laws effective January 1 - Insurance News | InsuranceNewsNet

InsuranceNewsNet — Your Industry. One Source.™

Sign in
  • Subscribe
  • About
  • Advertise
  • Contact
Home Now reading Property and Casualty News
Topics
    • Advisor News
    • Annuity Index
    • Annuity News
    • Companies
    • Earnings
    • Fiduciary
    • From the Field: Expert Insights
    • Health/Employee Benefits
    • Insurance & Financial Fraud
    • INN Magazine
    • Insiders Only
    • Life Insurance News
    • Newswires
    • Property and Casualty
    • Regulation News
    • Sponsored Articles
    • Washington Wire
    • Videos
    • ———
    • About
    • Meet our Editorial Staff
    • Advertise
    • Contact
    • Newsletters
  • Exclusives
  • NewsWires
  • Magazine
  • Newsletters
Sign in or register to be an INNsider.
  • AdvisorNews
  • Annuity News
  • Companies
  • Earnings
  • Fiduciary
  • Health/Employee Benefits
  • Insurance & Financial Fraud
  • INN Exclusives
  • INN Magazine
  • Insurtech
  • Life Insurance News
  • Newswires
  • Property and Casualty
  • Regulation News
  • Sponsored Articles
  • Video
  • Washington Wire
  • Life Insurance
  • Annuities
  • Advisor
  • Health/Benefits
  • Property & Casualty
  • Insurtech
  • About
  • Advertise
  • Contact
  • Editorial Staff

Get Social

  • Facebook
  • X
  • LinkedIn
Newswires
Property and Casualty News RSS Get our newsletter
Order Prints
January 3, 2025 Property and Casualty News
Share
Share
Post
Email

North Carolina passes new laws effective January 1

Storme SmithThe Tryon Daily Bulletin

On January 1, several new laws went into effect in North Carolina. Here's a breakdown of some key laws impacting residents across the state.

Despite facing fierce opposition, Senate Bill 382, the third Helene relief bill, was set to become law. While it aims to provide disaster recovery funding, much of its content raises alarm bells about shifts in state power. A critical point of contention—requiring election boards to finish counting provisional ballots by 5 p.m. on the third business day after elections—has sparked concern. Critics argue that local boards lack the resources to meet this demand, while proponents claim that faster results are a matter of voter rights.

Another notable law, Senate Bill 452, raises the minimum liability insurance requirements for drivers in North Carolina from $30,000 to $50,000 per person and $60,000 to $100,000 per accident. This is a crucial improvement for protecting motorists, especially vulnerable road users. While Gov. Cooper vetoed the bill due to associated provisions affecting school athletics, he acknowledged the need for stronger auto insurance coverage. Advocates for safe driving applauded this reform, viewing it as a necessary measure for enhancing road safety.

Under House Bill 259, North Carolinians can anticipate a reduction in personal income tax rates, decreasing from 4.5% in 2024 to 4.25% in 2025, with a long-term goal of dropping to 3.99%. Although this reduction may seem beneficial, it's important to note that Gov. Cooper vetoed this bill in October 2023. Nevertheless, proponents argue that lower taxes will provide crucial relief for working families, while critics worry about potential cuts to vital public services funded by these tax revenues.

Finally, Senate Bill 527 introduces a significant change in the alcohol tax structure. Liquor sales exceeding $50,000 will be exempt from the existing 30% excise tax, which some argue favors large retailers over small businesses. Gov. Cooper signed this bill into law after it garnered bipartisan support, emphasizing that capping the maximum tax at $1,000 for qualifying liquor is intended to encourage economic activity within the industry. However, the implications for public health and safety should not be overlooked, especially given concerns about substance abuse.

Residents can visit the North Carolina General Assembly website for a complete list of new legislation.

The post North Carolina passes new laws effective January 1 appeared first on The Tryon Daily Bulletin.

Older

Aetna drops Providence in Oregon from its health insurance network, leaving patients in limbo

Newer

COMMENTARY: Murkowskl Questions Health Care's Direction

Advisor News

  • A rising retirement challenge: The license to spend
  • Financial stress leaves less room for retirement saving
  • Giving while you’re living: 3 frequently asked questions about gifting
  • Helping clients prepare for one of their biggest retirement expenses
  • Important year-end financial conversations every advisor must have
More Advisor News

Annuity News

  • A rising retirement challenge: The license to spend
  • What lower interest rates mean to annuity payouts
  • AM Best downgrades A-Cap insurers amid financial and regulatory troubles
  • Lawsuit claims Delaware Life hid billions in insurer-linked investments
  • AM Best to Deliver Presentation at 2026 ACLI Annual Conference
More Annuity News

Health/Employee Benefits News

  • New leader named for state HHS Medical Services
  • Health Insurance Marketplace enrollment starts Nov. 1
  • The flawed logic of Medicare for All
  • Bailey pushes back on Abbott tax message
  • Commentary: Health coverage for all
Sponsor
More Health/Employee Benefits News

Life Insurance News

  • Study Results from Cornell University in the Area of Insurance Reported (Regulatory Competition In the Us Life Insurance Industry): Insurance
  • AM Best Comments on Issuer Credit Ratings of Pacific Life Insurance Company’s Commercial Paper Following Amendment to Program
  • AM Best Affirms Credit Ratings of Protective Life Corporation and Its Key Subsidiaries
  • ICICI Life Insurance names Sidharatha Mishra managing director, CEO
  • Lawsuit alleges companies collected $30 million in ‘illegal wager on human life’
Sponsor
More Life Insurance News

NEWS INSIDE

  • Companies
  • Earnings
  • Economic News
  • INN Magazine
  • Insurtech News
  • Newswires Feed
  • Regulation News
  • Washington Wire
  • Videos

FEATURED OFFERS

Press Releases

  • Lauren Sinnott Named to Ragan’s Top Women in Marketing Awards, Class of 2026 
  • Classic Car Insurer OpenRoad Insurance Expands to 40 U.S. States in Two Years
  • How Aspire General Turned an Early Technology Bet Into Claims Automation at Scale with Kyber
  • Adjusto launches AI-Native contents claims services powered by its technology platform
  • URL Insurance Group Celebrates 40 Years of Service, Growth, and Industry Leadership
More Press Releases > Add Your Press Release >

How to Write For InsuranceNewsNet

Find out how you can submit content for publishing on our website.
View Guidelines

Topics

  • Advisor News
  • Annuity Index
  • Annuity News
  • Companies
  • Earnings
  • Fiduciary
  • From the Field: Expert Insights
  • Health/Employee Benefits
  • Insurance & Financial Fraud
  • INN Magazine
  • Insiders Only
  • Life Insurance News
  • Newswires
  • Property and Casualty
  • Regulation News
  • Sponsored Articles
  • Washington Wire
  • Videos
  • ———
  • About
  • Meet our Editorial Staff
  • Advertise
  • Contact
  • Newsletters

Top Sections

  • AdvisorNews
  • Annuity News
  • Health/Employee Benefits News
  • InsuranceNewsNet Magazine
  • Life Insurance News
  • Property and Casualty News
  • Washington Wire

Our Company

  • About
  • Advertise
  • Contact
  • Meet our Editorial Staff
  • Magazine Subscription
  • Write for INN

Sign up for our FREE e-Newsletter!

Get breaking news, exclusive stories, and money- making insights straight into your inbox.

select Newsletter Options
Facebook Linkedin Twitter
© 2026 InsuranceNewsNet.com, Inc. All rights reserved.
  • Terms & Conditions
  • Privacy Policy
  • InsuranceNewsNet Magazine

Sign in with your Insider Pro Account

Not registered? Become an Insider Pro.