What Representations and Warranties Insurance Requirements Apply in North Carolina?

North Carolina generally allows 3 years under N.C. Gen. Stat. § 1-52(1) for actions on a contract, obligation, or liability, subject to claim-specific exceptions and accrual rules. That statutory filing period does not set the survival date negotiated for each representation or the insurer’s reporting window; if North Carolina is the insured’s home state, the surplus-lines tax rate is 5% and 0.4%.

What Is Representations and Warranties Insurance?

Representations and warranties insurance can cover a buyer’s or seller’s loss from inaccurate statements in a stock or asset purchase agreement. For a business sale, check who is insured, who can recover and how known issues are treated. Read the national Representations and warranties guide.

What to Watch for With Representations and Warranties in North Carolina

Separate The Statute From The Survival Schedule
N.C. Gen. Stat. § 1-52(1) provides 3 years for actions on a contract, obligation, or liability. Ask deal counsel to list a separate survival end date for each representation, then compare those dates with the insurer’s claim-reporting deadline. ¹
Confirm When A Contract Claim Accrues
North Carolina measures the cited contract period from accrual; N.C. Gen. Stat. § 1-52(1) covers actions on a contract, obligation, or liability. For an R&W placement, ask counsel to identify the alleged breach date and put it beside the purchase-agreement survival date and policy notice deadline. ¹
Show Home-State Tax In The Closing Costs
Federal law assigns nonadmitted premium-tax authority to the insured’s home state. If North Carolina is the home state for your R&W policy, 5% of gross premium, less return premium, plus 0.4% NC Stamping Office fee for ordinary filed placements applies under N.C. Gen. Stat. §58-21-85. Ask the broker to state the tax base and any separate stamping or filing charge in the closing funds flow. ^3,²

Providers With North Carolina License Records

These providers publish a national listing for Representations and warranties; the license records below name the licensed entities and roles. Some records rely on company-reported information rather than independent regulator verification. A national listing does not confirm the product is available in North Carolina. Check the regulator’s license lookup and confirm state availability for your business when requesting a quote.

Corgi
Insurance producer · checked 2026-09-28
Corgi Insurance Services, Inc.
Corgi’s company producer-license table lists 50 jurisdictions: 49 states and the District of Columbia, including DC license 3003091619. New Mexico does not appear in the table and is not included here; the omission does not establish that Corgi is unlicensed there. The company-reported table has no stated as-of date and does not establish product availability. ¹⁴
Corgi lists representations and warranties insurance for M&A buyers and sellers.

Who Regulates Insurance in North Carolina?

North Carolina Department of Insurance

The North Carolina Department of Insurance administers insurance laws, licenses insurance producers and companies, reviews insurance filings and handles consumer complaints. The Commissioner is elected statewide. ^4,^5,^6,⁷

Website: Regulator website
License lookup: Search licensed producers
Complaints: File a complaint
Phone: 855-408-1212

Surplus-Lines Tax and Stamping Office in North Carolina

Reported tax rate. 5% of gross premium, less return premium, plus 0.4% NC Stamping Office fee for ordinary filed placements ^8,^9,^10,¹¹

When North Carolina is the insured’s home state, surplus-lines tax is 5% of gross premium less return premium; ordinary broker-placed filings also carry a 0.4% stamping fee, while risk-purchasing-group and independent-procurement filings follow separate procedures. A diligent search is generally required; an exempt commercial purchaser may bypass it only after the broker discloses the admitted-market protection difference and receives the purchaser’s subsequent written request. The policy warns that the state guaranty or solvency fund will not pay surplus-lines losses.

North Carolina Surplus Lines Association / NC Stamping Office

Questions to Ask Before You Buy Representations and Warranties in North Carolina

Which North Carolina limitation period and accrual rule apply to each seller representation, and does the governing-law clause point to a different state?
Can you put each negotiated representation survival date, the escrow release date, and the policy reporting deadline on one closing calendar?
If the policy is placed on a surplus-lines basis, is North Carolina the insured’s home state, what tax base applies, and who remits the tax?
Which state bulk-sale notice, tax-clearance, or successor-liability issues should the deal team evaluate for this asset or stock purchase?

Representations and Warranties Insurance in North Carolina: FAQ

How long is the written-contract limitation period in North Carolina?

3 years under N.C. Gen. Stat. § 1-52(1) for actions on a contract, obligation, or liability. Accrual, claim classification, and statutory exceptions can change which period applies. ¹

Does North Carolina’s contract limitation period set the R&W survival period?

No. N.C. Gen. Stat. § 1-52(1) sets a court-filing limit for actions on a contract, obligation, or liability; it does not set the negotiated survival end date for a representation or the separate deadline to notify the insurer. ¹

What surplus-lines tax applies to an R&W policy in North Carolina?

5% of gross premium, less return premium, plus 0.4% NC Stamping Office fee for ordinary filed placements when North Carolina is the insured’s home state, under N.C. Gen. Stat. §58-21-85. Federal law assigns the premium-tax obligation to the home state; ask the broker to show the home-state and tax calculation on the closing statement. ^2,³

Sources for Representations and Warranties Insurance in North Carolina

1
N.C. Gen. Stat. § 1-52(1). State Legislature / official state code; N.C. Gen. Stat. § 1-52(1); 3 years period applies to actions on a contract, obligation, or liability. Accessed 2026-09-29.
2
N.C. Gen. Stat. §58-21-85. North Carolina General Assembly; 5% tax on gross premiums less returns when insured’s home state is North Carolina; treatment of reciprocal allocation also provided. Accessed 2026-09-28.
3
15 U.S.C. § 8201: Nonadmitted insurance premium tax. U.S. House of Representatives, Office of the Law Revision Counsel; §8201(a): only the insured’s home state may require payment of premium tax for nonadmitted insurance. Accessed 2026-09-29.
4
North Carolina Department of Insurance. North Carolina Department of Insurance; Official department homepage. Accessed 2026-09-28.
5
Insurance Producer and Adjuster Licensing. North Carolina Department of Insurance; Official licensing landing page provides license status lookup, producer licensing and SBS resources. Accessed 2026-09-28.
6
File a Complaint. North Carolina Department of Insurance; Official insurance complaint form and consumer assistance page; toll-free line 855-408-1212. Accessed 2026-09-28.
7
Commissioner of Insurance. North Carolina Department of Insurance; Official commissioner biography says officeholder was elected statewide. Accessed 2026-09-28.
8
N.C. Gen. Stat. §58-21-85. North Carolina General Assembly; 5% tax on gross premiums less returns when insured’s home state is North Carolina; treatment of reciprocal allocation also provided. Accessed 2026-09-28.
9
Surplus Lines. North Carolina Department of Insurance; Current DOI surplus-lines page identifies NC Stamping Office; states a 0.4% fee for ordinary new/renewal filings; excludes RRG and independent procurement. Accessed 2026-09-28.
10
N.C. Gen. Stat. §58-21-16. North Carolina General Assembly; ECP diligent-search waiver requires broker disclosure that admitted insurance may provide greater protection and purchaser subsequent written request; ECP definition appears in subsection (b). Accessed 2026-09-28.
11
Surplus Lines. North Carolina Department of Insurance; Required surplus-lines policy language says state guaranty or solvency fund will not pay losses on policy. Accessed 2026-09-28.
12
Licenses. At-Bay; Current producer introduction and state table; At-Bay Insurance Services LLC; P&C and surplus-lines identifiers. Accessed 2026-09-21.
13
Licenses and Carriers. Coalition; Licenses and Carriers, re-read 22 September 2026: Insurance Licenses table for Coalition Insurance Solutions, Inc., national producer number 18419475, with producer and surplus-lines numbers for all 50 states and DC including California 0L76155, Georgia 196479, Texas 2199630 and 2205589, Pennsylvania 815731 and 817452, Colorado 539028 and Wisconsin 3000108852. Insurance Carriers table naming, with NAIC numbers, Allianz Underwriters Insurance Company 36420, Arch Specialty Insurance Company 21199, Ascot Specialty Insurance Company 45055, Ascot Insurance Company 23752, Aspen Specialty Insurance Company 10717, Chaucer Insurance Company DAC, Coalition Insurance Company 29530, Fireman's Fund Indemnity Corporation 11380, Fortegra Specialty Insurance Company 16823, Lloyd's of London, MSIG Specialty Insurance USA Inc. 34886, MS Transverse Specialty Insurance Company 41807, Steadfast Insurance Company 26387, Vantage Risk Specialty Insurance Company 16275 and Zurich American Insurance Company 16535. Accessed 2026-09-22.
14
Insurance Producer Licenses. Corgi Insurance; Current complete Insurance Producer Licenses table for Corgi Insurance Services, Inc.; 50 rows covering 49 states and DC (DC 3003091619); no New Mexico row; no NPN or as-of date shown. Accessed 2026-09-28.
15
About Hiscox US Insurance. Hiscox; Hiscox Insurance Company Inc. NAIC 10200 as Chicago, IL domiciled insurer admitted or licensed in all 50 states and D.C.; Hiscox Inc. as general agent and Lloyd’s coverholder for Syndicates 33 and 3624; surplus-lines placements through licensed surplus-lines brokers; A.M. Best rating statement. Accessed 2026-09-16.
16
Licenses. ERGO NEXT Insurance; Current entity-by-state license table reopened 28 September 2026: 50 rows under Next First Insurance Agency, Inc., including Washington, DC; New York rows instead list Next Insurance Services PC-1423070 and AP Intego BR-1198885. Accessed 2026-09-28.
17
Insurance Licenses by State. TechInsurance; Current state table; identifies TechInsurance as a division of Specialty Program Group LLC d/b/a SPG Insurance Solutions; lists DC 3000041536 and labels Rhode Island “Individual licenses,” without an agency license number. Accessed 2026-09-28.
18
Licenses. Vouch; Effective 16 January 2025: Vouch Specialty Insurance Services, LLC, NPN 19926463; P&C table (50 states and DC); surplus-lines table includes Idaho 870820; footnote says Georgia and Idaho do not issue agency-level surplus-lines licenses; Idaho retained as producer-only due to conflict. Accessed 2026-09-15.

What Representations and Warranties Insurance Requirements Apply in North Carolina?

What Is Representations and Warranties Insurance?

What to Watch for With Representations and Warranties in North Carolina

Separate The Statute From The Survival Schedule

Confirm When A Contract Claim Accrues

Show Home-State Tax In The Closing Costs