S.C. Code Ann. § 38-71-275 — SC Code / Title 38 / Chapter 71 / Article 1 / Section 38-71-275
SECTION 38-71-275. Insurance coverage for certain drugs not to be excluded from policy definitions.
Status: in_force

(A) No insurance policy which provides coverage for drugs shall exclude coverage of any such drug used for the treatment of cancer on the grounds that the drug has not been approved by the Federal Food and Drug Administration for the treatment of the specific type of cancer for which the drug has been prescribed; provided, that such drug is recognized for treatment of that specific type of cancer in one of the standard reference compendia or in the medical literature. (B) This section shall not be construed to: (1) alter existing law with regard to provisions limiting the coverage of drugs that have not been approved by the Federal Food and Drug Administration; (2) require coverage for any drug when the Federal Food and Drug Administration has determined its use to be contraindicated; (3) require coverage for experimental drugs not otherwise approved for any indication by the Federal Food and Drug Administration; (4) create, impair, alter, limit, modify, enlarge, abrogate, or prohibit reimbursement for drugs used in the treatment of any other disease or condition. (C) For purposes of this section: (1) "Insurance policy" means an individual, group, or blanket policy written by a medical expense indemnity corporation, a hospital service corporation, a health care service plan contract, or a private insurance plan issued, amended, delivered, or renewed in this State or which provides insurance for residents of this State. (2) "Standard reference compendia" means: (a) the United States Pharmacopoeia Drug Information; (b) the American Medical Association Drug Evaluations; or (c) the American Hospital Formulary Service Drug Information. (3) "Medical literature" means two articles from major peer-reviewed professional medical journals that have recognized, based on scientific or medical criteria, the drug's safety and effectiveness for treatment of the indication for which it has been prescribed unless one article from major peer-reviewed professional medical journals has concluded, based on scientific or medical criteria, that the drug is unsafe or ineffective or that the drug's safety and effectiveness cannot be determined for the treatment of the indication for which it has been prescribed.
S.C. Code Ann. § 38-43-715 — SC Code / Title 38 / Chapter 43 / Article 6 / Section 38-43-715
SECTION 38-43-715. Application of article.
Status: in_force

(A) This article applies to travel insurance sold, solicited, negotiated, or offered in this State that covers a resident in this State and is delivered or issued for delivery in this State. It does not apply to cancellation fee waivers and travel assistance services except as expressly provided herein. (B) All other applicable provisions of this title continue to apply to travel insurance. In the event of a conflict between a provision of this article and any other applicable provisions of this title, the provision of this article controls.
S.C. Code Ann. § 38-38-590 — SC Code / Title 38 / Chapter 38 / Article 11 / Section 38-38-590
SECTION 38-38-590. Licensing of agents.
Status: in_force

Agents of societies must be licensed in accordance with and comply with the provisions of Chapter 43 and any other applicable provision of this title.
S.C. Code Ann. § 38-51-30 — SC Code / Title 38 / Chapter 51 / Section 38-51-30
SECTION 38-51-30. Surety bond.
Status: in_force

Every administrator shall file and maintain with the department a surety bond in favor of the state executed by a surety company authorized to transact business in this State. In lieu of bond, the administrator may file with the department letters of credit, certificates of deposit of building and loan associations, or federal savings and loan associations located within the state in which deposits are guaranteed by the Federal Savings and Loan Insurance Corporation, not to exceed the amount of insurance, or of banks located within the state in which deposits are guaranteed by the Federal Deposit Insurance Corporation, not to exceed the amount covered by insurance or any other financial instrument that the director or his designee deems appropriate. The director or his designee may also in his sole discretion accept in lieu of a bond or certificates of deposit or letter of credit a corporate guaranty by an insurer licensed to transact business in this State. The corporate guaranty must meet any requirements the director or his designee requires. The director or his designee may withdraw his acceptance of a corporate guaranty in lieu of bonds or certificates of deposit at any time. The amount of the bond, certificates of deposit, corporate guaranty letter of credit, or any other instrument the director or his designee deems appropriate, filed with the department must be in the amount of seventy-five thousand dollars for initial applicants. Upon renewal, the applicant shall submit a surety bond in an amount that represents ten percent of the total premiums handled or managed in South Carolina for the previous calendar year. The amount of the surety bond for renewal applications must not be less than seventy-five thousand dollars and may not exceed five hundred thousand dollars. All bonds must include a provision requiring a thirty-day advance notification of cancellation to the department. The bond must be on a form approved by the director or his designee. Any of the above-described financial instruments must be conditioned to pay any person who sustains a loss as a result of: (a) the administrator's violation of or failure to comply with any requirement of this chapter; (b) the administrator's failure to transmit properly any payment received by it for transmission to an insurer or other person; (c) the administrator's misapplication or misappropriation of funds received by it; or (d) any act of fraud or dishonesty committed by the administrator in the administration of an insurance benefit plan. Any aggrieved person may institute an action in the county of his residence against the administrator or his surety, or both, to recover on the bond or to recover from the certificates of deposit or corporate guaranty or letters of credit. Nothing in this section may be construed to prohibit agreements between administrators and insurers providing for additional bonds. The director or his designee may waive the bonding requirements of this section in whole or in part to the extent that funds handled by the administrator are handled on behalf of a licensed insurance company, if the administrator has furnished a bond or other security to the insurance company which meets the purposes of this section. Under no circumstances may the director or his designee waive the bonding requirements of this section with respect to funds handled by the administrator on behalf of self-insured persons, groups, or entities. Effect of Amendment 2018 Act No. 219, SECTION 7, in the sixth sentence, inserted "for initial applicants" at the end, and inserted the seventh, eighth, and ninth sentences, relating to the submission of a surety bond for the renewal of an administrator's license.
S.C. Code Ann. § 38-75-980 — SC Code / Title 38 / Chapter 75 / Article 11 / Section 38-75-980
SECTION 38-75-980. Filing of premium rate schedules.
Status: in_force

(A) A title insurer shall file with the director or his designee the premium rate schedules it proposes to use in this State. If the director or his designee finds in his review of a filing that it does not violate Section 38-75-970, he shall approve the schedule within sixty days of filing. Before the approval, the director or his designee may conduct public hearings with respect to the filing. Filings that the director or his designee has failed to approve or disapprove within sixty days of filing is considered approved. Upon notice to the title insurer, the period for review of the rate filing may be extended for an additional sixty days. (B) If after the approval of filing the director or his designee believes that the filing does not meet the requirements of this section or is otherwise contrary to law, or if any party having an interest in the filing makes a written complaint to the director or his designee setting forth specific and reasonable grounds for the complaint, or if any insurer, upon notice of disapproval by the director or his designee of a filing pursuant to this section, should so request, the director or his designee shall hold a hearing within thirty days and give written notice of the hearing to all parties in interest. The director or his designee may confirm, modify, change, or rescind any previous action if warranted by the facts shown at the hearing.
S.C. Code Ann. § 38-71-1380 — SC Code / Title 38 / Chapter 71 / Article 13 / Section 38-71-1380
SECTION 38-71-1380. Notification of intent to operate; certain reinsuring insurers not permitted to continue to reinsure health insurance plan.
Status: in_force

(A)(1) Within sixty days after the plan of operation is approved by the director under Section 38-71-1410, each small employer insurer shall notify the director of the insurer's intention to operate as a risk-assuming insurer or a reinsuring insurer. A small employer insurer seeking to operate as a risk-assuming insurer shall make an application pursuant to Section 38-71-1390. (2) The decision shall be binding for a five-year period except that the initial decision shall be binding for two years. The director may permit an insurer to modify its decision at any time for good cause shown. (3) The director shall establish an application process for small employer insurers seeking to change their status under this subsection. In the case of a small employer insurer that has been acquired by another such insurer, the director may waive or modify the time periods established in item (2). (B) A reinsuring insurer that applies and is approved to operate as a risk-assuming insurer shall not be permitted to continue to reinsure any health insurance plan with the program. Such an insurer shall pay a prorated assessment based upon business issued as a reinsuring insurer for any portion of the year that the business was reinsured.
S.C. Code Ann. § 38-19-1010 — SC Code / Title 38 / Chapter 19 / Article 11 / Section 38-19-1010
SECTION 38-19-1010. Fire and storm insurance; suits; seals.
Status: in_force

The corporation Farmers Mutual Insurance Association of Newberry, S.C. shall have the right to mutually insure the respective dwelling houses, barns, and other buildings and property of every kind and nature of its members, in Newberry County, in counties contiguous thereto, and in any other county in this State where another county mutual insurance association is not authorized to do business by law against loss by fire, winds, or lightning, or other casualty, and to write all forms of property, casualty, and marine insurance as those terms are defined by law, all upon those terms and under those conditions as may be fixed by the bylaws of the corporation provided that all insurance against liability of the insured to other persons must be fully reinsured by the corporation in or with one or more insurance companies licensed to insure these risks under the laws of this State. It may sue and be sued in any court in this State and may have and use a common seal.
S.C. Code Ann. § 38-71-1420 — SC Code / Title 38 / Chapter 71 / Article 13 / Section 38-71-1420
SECTION 38-71-1420. Advisory committee.
Status: in_force

(A) The Governor shall appoint an advisory committee to the director which shall recommend the form and level of coverages to be made available by small employer insurers pursuant to Section 38-71-1360. At least one member of the committee shall be a licensed independent insurance agent who represents multiple health and accident insurance carriers. In preparing its initial recommendations, the advisory committee shall build on the work of the Governor's Committee on Basic Health Services. (B) The committee shall recommend benefit levels, cost-sharing levels, exclusions and limitations for the basic health insurance plan and the standard health insurance plan. The committee shall specifically recommend which, if any, mandated coverages of health care services or health care providers should be included in the basic and standard health insurance plans and shall recommend as well whether the plans should be exempt from any other statutory provisions otherwise applicable to group health insurance policies. Section 38-71-200 is applicable to the basic and standard health insurance plans and is not subject to exemption. The committee also shall design a basic health insurance plan and a standard health insurance plan which contain benefit and cost-sharing levels that are consistent with the basic method of operation and the benefit plans of health maintenance organizations, including any restrictions imposed by federal law. (1) The plans recommended by the committee may include cost containment features such as: (a) utilization review of health care services, including review of medical necessity of hospital and physician services; (b) case management; (c) selective contracting with hospitals, physicians, and other health care providers; (d) reasonable benefit differentials applicable to providers that participate or do not participate in arrangements using restricted network provisions; and (e) other managed care provisions. (2) The committee shall submit the health insurance plans described in paragraphs (A) and (B) to the director for approval by January 1, 1995. If, for any reason, the committee does not provide the director with a recommendation as to the form and level of coverages to be made available pursuant to this article, the board shall make such recommendation to the director. If, subsequent to the approval of the benefit levels of the basic and standard health insurance plans, amendments to the plans become necessary, the board shall make such recommendations to the director for his approval.
S.C. Code Ann. § 38-71-510 — SC Code / Title 38 / Chapter 71 / Article 3 / Section 38-71-510
SECTION 38-71-510. Declaration of purpose.
Status: in_force

The purpose of this subarticle is to provide reasonable standardization and simplification of terms and coverages of individual accident and health insurance policies or subscriber contracts of nonprofit hospital, medical, and dental service associations in order to facilitate public understanding and comparison, to eliminate provisions contained in individual accident and health insurance policies or subscriber contracts of nonprofit hospital, medical, and dental service associations which may be misleading or unreasonably confusing in connection with the purchase of the coverage or with the settlement of claims, to provide for full disclosure in the sale of accident and health coverages, and to provide for the termination of approval, after due notice and hearing before the director or his designee, of policy forms which do not comply with the minimum standards. Any decision or determination by the director or his designee to terminate approval pursuant to the administrative hearing may be appealed to the Administrative Law Court as provided in accordance with Section 38-3-210.
S.C. Code Ann. § 38-75-1160 — SC Code / Title 38 / Chapter 75 / Article 13 / Section 38-75-1160
SECTION 38-75-1160. Notice requirement prior to cancellation or refusal to renew; exceptions.
Status: in_force

(A)(1) Except for a cancellation pursuant to Section 38-75-730, a cancellation or refusal to renew by an insurer of a policy of insurance covered in this article is not effective unless the insurer delivers or mails to the named insured at the address shown in the policy a written notice of the cancellation or refusal to renew. This notice must: (a) be approved as to form by the director or his designee before use; (b) state the date not less than sixty days for any cancellation or refusal to renew after the date of the mailing or delivering on which the cancellation or refusal to renew becomes effective; (c) state the specific reason of the insurer for cancellation or refusal to renew and provide for the notification required by Section 38-75-1180(B); (d) inform the insured of his right to request in writing within thirty days of the receipt of notice that the director review the action of the insurer. The notice of cancellation or refusal to renew must contain the following statement in bold print to inform the insured of this right: "IMPORTANT NOTICE: Within thirty days of receiving this notice, you or your attorney may request in writing that the director review this action to determine whether the insurer has complied with South Carolina laws in canceling or nonrenewing your policy. If this insurer has failed to comply with the cancellation or nonrenewal laws, the director may require that your policy be reinstated. However, the director is prohibited from making underwriting judgments. If this insurer has complied with the cancellation or nonrenewal laws, the director does not have the authority to overturn this action." (e) inform the insured of the possible availability of other insurance which may be obtained through his agent, or through another insurer; and (f) state that the Department of Insurance has available a buyer's guide regarding property insurance shopping and availability, and provide applicable mailing addresses and telephone numbers, including a toll-free number, if available, for contacting the Department of Insurance. (2) Nothing in this subsection prohibits any insurer or agent from including in the notice of cancellation or refusal to renew, any additional disclosure statements required by state or federal laws, or any additional information relating to the availability of other insurance. (B) Subsection (A) does not apply if the: (1) insurer has manifested to the insured its willingness to renew by actually issuing or offering to the insured to issue a renewal policy, certificate, or other evidence of renewal, or has manifested this intention to the insured by another means; (2) named insured has demonstrated by some overt action to the insurer or its agent that he expressly intends that the policy be canceled or that it not be renewed; or (3) the notice of cancellation or refusal to renew by an insurer regarding private passenger automobile insurance or to insurance against liability arising out of ownership, maintenance, or use of: (a) an individual private passenger automobile as defined in Section 38-77-30(5.5)(a); or (b) property having wheels. Effect of Amendment 2021 Act No. 13, SECTION 8, in (A)(1)(b), deleted "that is effective between November first and May thirty-first and not less than ninety days for any cancellation or refusal to renew that is effective between June first and October thirty-first" following "refusal to renew".
S.C. Code Ann. § 38-43-101 — SC Code / Title 38 / Chapter 43 / Article 1 / Section 38-43-101
SECTION 38-43-101. Insurance producer applicants licensed in another state; qualifying standards; application process.
Status: in_force

(A) An individual who applies for an insurance producer license in this State who was previously licensed for the same lines of insurance in another state is not required to complete an examination. This exemption only is available if the person is currently licensed in another state or if the application is received within ninety days of the cancellation of the applicant's previous license and if the prior state issues a certification that, at the time of cancellation, the applicant was in good standing in that state or the state's Producer Database records, maintained by the National Association of Insurance Commissioners, its affiliates or subsidiaries, indicate that the producer is or was licensed in good standing for the line of insurance requested. (B) A person licensed as an insurance producer in another state who moves to this State shall make application within ninety days of establishing legal residence to become a resident licensee pursuant to Section 38-43-100. An examination is not required of a person to obtain any line of insurance previously held in another state. However, the director or his designee reserves the right to reciprocate standards imposed by other states and territories, or both, on this state's licensed producers. (C) A person applying for a nonresident insurance producer license or a person applying on behalf of the applicant shall make application to the director or his designee on the Uniform Application and declare under penalty of refusal, suspension, or revocation of the license that the statements made in the application are true, correct, and complete to the best of the applicant's knowledge and belief.
S.C. Code Ann. § 38-73-1430 — SC Code / Title 38 / Chapter 73 / Article 11 / Section 38-73-1430
SECTION 38-73-1430. Authority to extend provisions of Sections 38-73-1370, 38-73-1380, 38-73-1400, 38-73-1410 to other lines of insurance.
Status: in_force

After June 30, 1989, the director or his designee may extend the provisions of Sections 38-73-1370, 38-73-1380, 38-73-1400, and 38-73-1410 to other lines of property and casualty insurance, by order, after public hearing, when the determination is made that to do so is in the public interest.
S.C. Code Ann. § 38-89-130 — SC Code / Title 38 / Chapter 89 / Section 38-89-130
SECTION 38-89-130. Participation of association members.
Status: in_force

All insurers which are members of the association shall participate in its writings, expenses, profits, and losses in the proportion that the net direct premium of each member, excluding that portion of premiums attributable to the operation of the association, written during the preceding calendar year bear to the aggregate net direct premiums written in this State by all members of the association. Each insurer's participation in the association must be determined annually on the basis of the net direct premiums written during the preceding calendar year, as reported in the annual statements and other reports filed by the insurer with the department of Insurance. No member may be obligated in any one year to reimburse the association because of its proportionate share in the deficit from operations of the association in that year in excess of one percent of its surplus to policyholders and the aggregate amount not so reimbursed must be reallocated among the remaining members in accordance with the method of determining participation prescribed in this subsection after excluding from the computation the total net direct premiums of all members not sharing in the excess deficit. If the deficit from operations allocated to all members of the association in a calendar year exceeds one percent of their respective surplus to policyholders, the amount of the deficit must be allocated to each member in accordance with the method of determining participation prescribed in this subsection.
S.C. Code Ann. § 38-55-180 — SC Code / Title 38 / Chapter 55 / Article 1 / Section 38-55-180
SECTION 38-55-180. Debit collected for sick, accident, or death benefits on weekly or monthly industrial plan is property of insurer.
Status: in_force

No agent, collector, solicitor, or other employee or representative of an insurer issuing contracts providing for sick, accident, or death benefits and operating on the weekly or monthly industrial plan is considered the owner of any part of the weekly or monthly debit collected by him or that may be under his charge, care, control, or supervision. The debit is considered wholly the property of the insurer in whose name the policies, contracts, or obligations were written or assumed. No former agent, collector, solicitor, superintendent, or other employee or representative of the insurer, within a period of ninety days after the termination of his employment with the insurer, may barter, sell, give, or in any manner transfer to any person or insurer any part of any debit of the insurer or any policies or contracts of the insurer, without the written consent of the insurer formerly employing him. The director or his designee shall revoke the license of any person violating this section.
S.C. Code Ann. § 38-45-170 — SC Code / Title 38 / Chapter 45 / Section 38-45-170
SECTION 38-45-170. Appointment of director as attorney for service of legal process, for eligible surplus lines insurers.
Status: in_force

Before the director or his designee approves a nonadmitted insurer as an eligible surplus lines insurer, the insurer shall appoint in writing the director and his successors in office to be its true and lawful attorney upon whom all legal process in any action or proceeding against it must be served and in this writing shall agree that any lawful process against it which is served upon this attorney is of the same legal force and validity as if served upon the insurer and that the authority continues in force so long as any liability remains outstanding in the State. Copies of the appointment, certified by the director, are sufficient evidence of the appointment and must be admitted in evidence with the same force and effect as the original might be admitted.
S.C. Code Ann. § 38-73-210 — SC Code / Title 38 / Chapter 73 / Article 2 / Section 38-73-210
SECTION 38-73-210. Article title and application.
Status: in_force

This article is known as the "Property and Casualty Insurance Personal Lines Modernization Act" and applies only to personal lines insurance.
S.C. Code Ann. § 38-12-50 — SC Code / Title 38 / Chapter 12 / Article 1 / Section 38-12-50
SECTION 38-12-50. Board of director responsibilities; adoption of written investment plan; review of portfolio; records of authorizations.
Status: in_force

(A) Within three months after the effective date of this chapter, the board of directors of an insurer shall adopt a written plan for acquiring and holding investments and for engaging in investment practices that specifies guidelines as to the quality, maturity, and diversification of investments and other specifications including investment strategies intended to assure that the investments and investment practices are appropriate for the business conducted by the insurer, its liquidity needs and its capital and surplus. The board shall review and assess the insurer's technical investment and administrative capabilities and expertise before adopting a written plan concerning an investment strategy or investment practice. (B) Investments acquired and held and investment practices engaged in pursuant to this chapter must be acquired and held under the supervision and direction of the board of directors of the insurer or a committee of the board charged with the responsibility to direct its investments. The board of directors or a committee of the board charged with the responsibility to direct its investments shall evidence by formal resolution, at least annually, that it has determined whether all investments have been made in accordance with delegations, standards, limitations, and investment objectives prescribed by the board or a committee of the board charged with the responsibility to direct its investments. (C) On not less than a quarterly basis, and more often if considered appropriate, the board of directors or committee of the board of directors of an insurer shall: (1) receive and review a summary report on the insurer's investment portfolio, its investment activities, and investment practices engaged in pursuant to delegated authority so as to determine whether the investment activity of the insurer is consistent with its written plan; and (2) review and revise, as appropriate, the written plan. (D) In discharging its duties pursuant to this section, the board of directors shall require that records of authorizations or approvals, other documentation as the board may require, and reports of action taken pursuant to authority delegated under the plan referred to in subsection (A) must be made available on a regular basis to the board of directors. (E) The directors of an insurer shall perform their duties pursuant to this section in good faith and with that degree of care that ordinarily prudent individuals in like positions would use under similar circumstances. (F) If an insurer does not have a board of directors, all references to the board of directors in this chapter are considered to be references to the governing body of the insurer having authority equivalent to that of a board of directors.
S.C. Code Ann. § 38-12-250 — SC Code / Title 38 / Chapter 12 / Article 2 / Section 38-12-250
SECTION 38-12-250. Equity interests in domestic business entities; percentage of assets limitation; short sales.
Status: in_force

(A) Subject to the limitations of Section 38-12-220, an insurer may acquire directly, or through an investment affiliate, equity interests in business entities organized pursuant to the laws of any domestic jurisdiction. (B) An insurer may not acquire directly, or through an investment affiliate, an investment pursuant to this section if as a result of and after giving effect to the investment the aggregate amount of investments then held by the insurer pursuant to this section exceeds twenty percent of its admitted assets, or, except for mutual funds, the amount of equity interests then held by the insurer that are not listed on a qualified exchange exceeds five percent of its admitted assets. An accident and health insurer is not subject to this section but is subject to the same aggregate limitation on equity interests as a property and casualty insurer pursuant to Section 38-12-460 and also to the provisions of Section 38-12-420. (C) An insurer may not acquire pursuant to this section investments that the insurer may acquire pursuant to Section 38-12-270 or pursuant to Chapter 21 of this title. (D) An insurer may not short sell an equity interest unless the insurer covers the short sale by owning the equity interest or an unrestricted right to the equity interest exercisable within six months of the short sale.
S.C. Code Ann. § 38-43-190 — SC Code / Title 38 / Chapter 43 / Article 1 / Section 38-43-190
SECTION 38-43-190. Producer receipt of premium; penalty for fraud.
Status: in_force

An insurance producer who acts on behalf of another in negotiating a contract of insurance is the insurer's producer for the purpose of receiving the premium. A producer who knowingly procures the payment of a premium of insurance or the obligation for the payment of a premium of insurance by fraudulent representation is guilty of a misdemeanor and, upon conviction, must be fined in the discretion of the court or imprisoned not more than three years, or both.
S.C. Code Ann. § 38-65-70 — SC Code / Title 38 / Chapter 65 / Article 1 / Section 38-65-70
SECTION 38-65-70. Coverage of families of employees and members.
Status: in_force

Any policy issued pursuant to Section 38-65-40 may be extended to insure the employees or members against loss due to the death of their spouses and any child under the age of nineteen or who is a dependent and a full-time student under twenty-five years of age and also may be extended to any child who is both (i) incapable of self-sustaining employment by reason of intellectual disability or physical handicap and (ii) chiefly dependent upon the employee for support and maintenance, subject to the following requirements: (1) The premium for the insurance must be paid by the policyholder from the policyholder's funds or from funds contributed by the insured persons, or from both. (2) Upon termination of the insurance with respect to the members of the family of any employee or member by reason of the employee's or member's termination of employment, termination of membership in the class or classes eligible for coverage under the policy, or death, the spouse or child is entitled to have issued by the insurer, without evidence of insurability, an individual policy of life insurance without disability or other supplementary benefits as long as application for the individual policy is made and the first premium paid to the insurer within thirty-one days after the termination, subject to the requirements of subitems (a), (b), and (c) of Section 38-65-210(8). If the group policy terminates or is amended so as to terminate the insurance of any class of employees or members and the employee or member is entitled to have issued an individual policy under Section 38-65-210(9), the spouse also is entitled to have issued by the insurer an individual policy, subject to the conditions and limitations provided above in this item (2). If the spouse dies within the period during which he would have been entitled to have an individual policy issued in accordance with this provision, the amount of life insurance which he would have been entitled to have issued under the individual policy is payable as a claim under the group policy, whether or not application for the individual policy or the payment of the first premium therefor has been made. Notwithstanding Section 38-65-210(7), only one certificate need be issued for delivery to an insured person if a statement concerning a dependent's coverage is included in the certificate. (3) The amounts of insurance must be based upon some plan precluding individual selection either by the employees or members or by the policyholder, employer, or union.
S.C. Code Ann. § 38-79-40 — SC Code / Title 38 / Chapter 79 / Article 1 / Section 38-79-40
SECTION 38-79-40. Employment and compensation restrictions on members of Board of Joint Underwriting Association and Board of Governors of Patients' Compensation Fund; exception.
Status: in_force

(A) A person who serves on the Board of the Joint Underwriting Association or the Board of Governors of the Patients' Compensation Fund is prohibited from being employed in any manner or compensated by the Joint Underwriting Association or the Patients' Compensation Fund, and this prohibition continues for one year after the person ceases to be a member of the board. (B) No provision of this section may be construed to prohibit an insurance agent from selling insurance products from the association or from receiving commissions as a result of selling insurance products from the association.
S.C. Code Ann. § 38-90-630 — SC Code / Title 38 / Chapter 90 / Article 3 / Section 38-90-630
SECTION 38-90-630. Promulgation of regulations.
Status: in_force

The director may promulgate regulations necessary to effectuate the purposes of this article. Regulations promulgated pursuant to this section do not affect a SPFC insurance securitization in effect at the time of the promulgation.
S.C. Code Ann. § 38-73-410 — SC Code / Title 38 / Chapter 73 / Article 5 / Section 38-73-410
SECTION 38-73-410. Scope of article.
Status: in_force

This article applies only to casualty insurance, including fidelity, surety, and guaranty bonds, and to all other forms of automobile insurance, on risks or operations in this State.
S.C. Code Ann. § 38-27-30 — SC Code / Title 38 / Chapter 27 / Article 1 / Section 38-27-30
SECTION 38-27-30. Purpose.
Status: in_force

The purpose of this chapter is the protection of the interests of insureds, claimants, creditors, and the public generally, with minimum interference with the normal prerogatives of the owners and managers of insurers, through: (1) Early detection of any potentially dangerous condition in an insurer and prompt application of appropriate corrective measures. (2) Improved methods for rehabilitating insurers, involving the cooperation and management expertise of the insurance industry. (3) Enhanced efficiency and economy of liquidation, through clarification of the law, to minimize legal uncertainty and litigation. (4) Equitable apportionment of any unavoidable loss. (5) Lessening the problems of interstate rehabilitation and liquidation by facilitating cooperation between states in the liquidation process and by extending the scope of personal jurisdiction over debtors of the insurer outside this State. (6) Regulation of the insurance business by the impact of the law relating to delinquency procedures and substantive rules on the entire insurance business.
S.C. Code Ann. § 38-63-225 — SC Code / Title 38 / Chapter 63 / Article 3 / Section 38-63-225
SECTION 38-63-225. Suicide and death exclusions.
Status: in_force

(A) If an individual life insurance policy contains a suicide provision, it may not limit payment of benefits for a period more than two years from the date of issue of the policy and it must provide for at least the return of premiums paid on the policy. (B) An individual life insurance policy or rider to such a policy delivered or issued for delivery in this State may exclude or restrict liability in the event of death occurring while the insured is a resident in a specified foreign country or countries, but except as provided in subsection (A) may not contain any provision excluding or restricting liability in the event of death caused in a certain specified manner, except as a result of: (1) death as a result of war, declared or undeclared, or any act or hazard of such a war; (2) death as a result of operating, riding, or descending from an aircraft unless the insured is a passenger and the aircraft is operated commercially to transport passengers for hire or by a private business to transport personnel or guests; (3) death as a result of hazardous occupations or hazardous sports specified in the policy or rider. If death is caused in a manner excluded in the policy or rider, the policy must provide for at least the return of premiums paid on the policy less any indebtedness to the insurer on the policy. (C) If an individual life insurance policy or rider contains any exclusions or restrictions of liability as allowed in subsection (B), the policy or rider must have a prominent stamp of notice of these exclusions or restrictions on the face of it and the insurer is required to have a separate form acknowledging the exclusions of liability signed by the owner of the policy.
S.C. Code Ann. § 38-29-160 — SC Code / Title 38 / Chapter 29 / Section 38-29-160
SECTION 38-29-160. Showing certificate of contribution as asset; offset of write-off against tax liability; payment of certain refunds to State.
Status: in_force

(1) Unless a longer period has been allowed by the director or his designee, a member insurer, at its option, has the right to show a certificate of contribution as an asset in the form approved by the director or his designee pursuant to Section 38-29-80(8) at percentages of the original face amount approved by the director or his designee, for calendar years as follows: (a) one hundred percent for the calendar year of issuance; (b) eighty percent for the first calendar year after the year of issuance; (c) sixty percent for the second calendar year after the year of issuance; (d) forty percent for the third calendar year after the year of issuance; (e) twenty percent for the fourth calendar year after the year of issuance; and (f) zero percent for the fifth calendar year after the year of issuance and thereafter. (2) The insurer may offset the amount written off by it in a calendar year under subsection (1) against its premium, or income, tax liability to this State accrued with respect to business transacted in that year. (3) Any sums acquired by refund, pursuant to Section 38-29-80(6), from the association which have previously been written off by contributing insurers and offset against premium (or income) taxes as provided in subsection (2) of this section and are not then needed for purposes of this chapter must be paid by the association to the department and by him deposited with the State Treasurer for credit to the general fund of this State. Editor's Note 2020 Act No. 121, SECTION 1.B, provides as follows: "[1.]B. The amendments made by this act do not apply to a member insurer that has been placed under an order of rehabilitation or liquidation before July 1, 2020." Effect of Amendment 2020 Act No. 121, SECTION 1.A, in (1), inserted the (a) to (f) designators, and made nonsubstantive changes.
S.C. Code Ann. § 38-71-1750 — SC Code / Title 38 / Chapter 71 / Article 17 / Section 38-71-1750
SECTION 38-71-1750. Disclosures required of network plans.
Status: in_force

A network plan must disclose in writing, using the plain and ordinary meaning of words so as reasonably to ensure comprehension by the insured or member, and make available to an insured or a member at the time of enrollment: (1) services or benefits under the plan, including limitations on services; (2) rules regarding copayments, prior authorization, and review requirements that apply to the benefits plan of the insured or member; (3) potential financial liability for the insured or member to pay for a portion of services received from an out-of-network provider; (4) financial obligations of the insured or member for items and services both in and out of the network; (5) the number, mix, and distribution of network providers and a current list of network providers upon request from an insured or a member; (6) the rights and responsibilities of an insured or a member, including an explanation of any appeals process for the denial of care or services under the plan; (7) the existence of any limitations on the choice of providers by an insured or a member.
S.C. Code Ann. § 38-77-112 — SC Code / Title 38 / Chapter 77 / Article 3 / Section 38-77-112
SECTION 38-77-112. Automobile insurers not required to write coverage for automobile insurance for any applicants or existing policyholders.
Status: in_force

An automobile insurer is not required to write coverage for automobile insurance as defined in Section 38-77-30 for an applicant or existing policyholder. An insurer or producer shall retain, for at least three years, a record of its refusals of coverage including the reason for the refusal and shall furnish this information upon the request of the Director of the Department of Insurance or his designee.
S.C. Code Ann. § 38-7-110 — SC Code / Title 38 / Chapter 7 / Section 38-7-110
SECTION 38-7-110. Limitation on action by State for fees, taxes, penalties, and interest; disposition of funds recovered.
Status: in_force

The State may bring suit in court for back fees, taxes, penalties, and interest imposed by this title at any time within ten years from the date on which they should have been paid. On collection of the fees and taxes, they must be distributed as provided by the statutes under which they were levied.
S.C. Code Ann. § 38-81-20 — SC Code / Title 38 / Chapter 81 / Article 1 / Section 38-81-20
SECTION 38-81-20. Exemption from liability for action taken in performance of powers and duties in reporting legal professional malpractice claims.
Status: in_force

There is no liability on the part of, and no cause of action of any nature may arise against, any insurer, its officers, its agents, or employees or the director, his designees, or his representatives for any action taken by them in performance of their powers and duties under this chapter.
S.C. Code Ann. § 38-25-120 — SC Code / Title 38 / Chapter 25 / Article 3 / Section 38-25-120
SECTION 38-25-120. Acting as agent for unauthorized insurer prohibited.
Status: in_force

No person may in this State act as agent for an insurer not authorized to transact business in this State or negotiate for or place or aid in placing insurance coverage in this State for another with an unauthorized insurer.
S.C. Code Ann. § 38-73-1050 — SC Code / Title 38 / Chapter 73 / Article 9 / Section 38-73-1050
SECTION 38-73-1050. No disapproval of certain casualty or automobile filings.
Status: in_force

No manual of classifications, rules, rating plans, or any modification of any of the foregoing for casualty insurance or automobile insurance which establishes standards for measuring variations in hazards or expense provisions, or both, and which has been filed pursuant to the requirements of Section 38-73-520 may be disapproved if the rates thereby produced meet the requirements of this chapter.
S.C. Code Ann. § 38-13-1030 — SC Code / Title 38 / Chapter 13 / Article 9 / Section 38-13-1030
SECTION 38-13-1030. Rules, regulations, and orders.
Status: in_force

The director may, upon notice and opportunity for all interested persons to be heard, issue such rules, regulations, and orders necessary to carry out the provisions of this article.
S.C. Code Ann. § 38-31-150 — SC Code / Title 38 / Chapter 31 / Section 38-31-150
SECTION 38-31-150. Immunity from liability for action taken under chapter.
Status: in_force

There is no liability on the part of, and no cause of action of any nature may arise against, any member insurer, the association's agents or employees, the board of directors, or the director or his representatives for any act or omission in the performance of their powers and duties under this chapter. This section does not relieve the association of any of its liability.
S.C. Code Ann. § 38-77-10 — SC Code / Title 38 / Chapter 77 / Article 1 / Section 38-77-10
SECTION 38-77-10. Declaration of purpose.
Status: in_force

In order to effect a complete reform of automobile insurance and insurance practices in South Carolina, the purposes of this chapter are to provide: (1) that every automobile insurance risk which is insurable on the basis of the criteria established in this chapter is entitled to automobile insurance; (2) for a residual market mechanism, known as the Associated Auto Insurers Plan, for every person who is legally entitled to automobile insurance but has not been able to obtain a motor vehicle liability policy to apply to the director of the Department of Insurance to have his risk assigned to an insurance carrier licensed to write and writing motor vehicle liability insurance in the State who shall issue a motor vehicle liability policy which will meet at least the minimum requirements for establishing financial responsibility in this chapter; (3) prohibitions and penalties in respect to unfairly discriminatory or unfairly competitive practices having as their purpose or effect evasion of the coverages as provided in this chapter; and (4) medical, surgical, funeral, and disability insurance benefits without regard to fault to be offered under automobile insurance policies that provide bodily injury and property damage liability insurance, or other security, for motor vehicles registered in this State.
S.C. Code Ann. § 38-69-260 — SC Code / Title 38 / Chapter 69 / Article 5 / Section 38-69-260
SECTION 38-69-260. Cash surrender benefits.
Status: in_force

For contracts which provide cash surrender benefits, the cash surrender benefits available prior to maturity may not be less than the present value as of the date of surrender of that portion of the maturity value of the paid-up annuity benefit which would be provided under the contract at maturity arising from considerations paid prior to the time of cash surrender reduced by the amount appropriate to reflect any prior withdrawals from or partial surrenders of the contract, the present value being calculated on the basis of an interest rate not more than one percent higher than the interest rate specified in the contract for accumulating the net considerations to determine such maturity value, decreased by the amount of any indebtedness to the insurer on the contract, including interest due and accrued, and increased by any existing additional amounts credited by the insurer to the contract. In no event may any cash surrender benefit be less than the minimum nonforfeiture amount at that time. The death benefit under such contracts must be at least equal to the cash surrender benefit.
S.C. Code Ann. § 38-74-40 — SC Code / Title 38 / Chapter 74 / Section 38-74-40
SECTION 38-74-40. Administration of pool.
Status: in_force

(A) The board shall select an insurer through a competitive bidding process to administer the pool. The board shall evaluate bids submitted based on criteria established by the board which includes: (1) the insurer's proven ability to handle accident and health insurance; (2) the efficiency of the insurer's claim-paying procedures; (3) an estimate of total charges for administering the plan; (4) the insurer's ability to administer the pool in a cost-efficient manner; (B)(1) The administering insurer shall serve for a period of three years subject to removal for cause. (2) At least one year prior to the expiration on each three-year period of service by an administering insurer, the board shall invite all insurers, including the current administering insurer, to submit bids to serve as the administering insurer for the succeeding three-year period. Selection of the administering insurer for the succeeding period must be made at least six months prior to the end of the current three-year period. (C)(1) The administering insurer shall perform all eligibility and administrative claims payment functions relating to the pool. (2) The administering insurer shall establish a premium billing procedure for collection of premium from insured persons. Billings must be made on a periodic basis as determined by the board. (3) The administering insurer shall perform all necessary functions to assure timely payment of benefits to a covered person under the pool including: (a) making available information relating to the proper manner of submitting a claim for benefits to the pool and distributing forms upon which submission must be made; (b) evaluating the eligibility of each claim for payment by the pool. (4) The administering insurer shall submit regular reports to the board regarding the operation of the pool. The frequency, content, and form of the report are determined by the board. (5) Following the close of each fiscal year, the administering insurer shall determine the net loss for the year and report this information to the board and the department on a form prescribed by the commissioner. (6) The administering insurer is paid as provided in the plan of operation for its expenses incurred in the performance of its services.
S.C. Code Ann. § 38-103-20 — SC Code / Title 38 / Chapter 103 / Section 38-103-20
SECTION 38-103-20. Family leave benefits.
Status: in_force

Family leave benefits may be provided for any leave taken by an employee from work to: (1) participate in providing care, including physical or psychological care, for a family member of the employee made necessary by a serious health condition of the family member; (2) bond with the employee's child during the first twelve months after the child's birth, or the first twelve months after the placement of the child for adoption or foster care with the employee; (3) address a qualifying exigency as interpreted under the Family and Medical Leave Act, 29 U.S.C. Section 2612(a)(1)(e) and 29 C.F.R. Section 825.126(a)(1)-(8), arising out of the fact that the spouse, child, or parent of the employee is on active duty, or has been notified of an impending call or order to active duty, in the Armed Forces of the United States; (4) care for a family service member injured in the line of duty; or (5) take other leave to provide care for a family member or other family leave as specified in the policy of insurance.
S.C. Code Ann. § 38-9-120 — SC Code / Title 38 / Chapter 9 / Article 1 / Section 38-9-120
SECTION 38-9-120. Exchange of deposited securities.
Status: in_force

A depositing insurer may exchange for the deposited securities, or any of them, other securities eligible for deposit under Sections 38-9-80 to 38-9-140 if, in the opinion of the director or his designee, the aggregate value of the deposit will not be reduced below the amount required by law.
S.C. Code Ann. § 38-53-290 — SC Code / Title 38 / Chapter 53 / Section 38-53-290
SECTION 38-53-290. Professional bondsman shall deliver power of attorney to clerk of court; form.
Status: in_force

With the securities deposited with the clerk of court, the professional bondsman shall at the same time deliver to the clerk of court a power of attorney on a form supplied by the clerk of court, executed and acknowledged by the professional bondsman, authorizing the sale or transfer of the securities or any part of the securities. The power of attorney must read as follows: "Know all men by these presents that I, __________, a professional bondsman, located in the County of __________, in the State of __________, do authorize and appoint for myself and my successors, heirs, and assigns the clerk of court of this county, in the name and in behalf of myself as professional bondsman, my attorney to sell or transfer any securities deposited or that may be deposited by me as professional bondsman with the clerk of court, under the laws and regulations requiring a deposit of securities to be made by professional bondsmen doing business in the State of South Carolina if the sale or transfer is considered necessary by the clerk of court to pay any liability arising under a bond which purports to be given by the undersigned bondsman in any county in this State, and execution has been issued against me as bondsman pursuant to a judgment on the bond, and the judgment has not been satisfied. The securities so deposited are to be held in trust by the clerk of court for the sole protection and benefit of the holder of bail bonds executed by or on behalf of the undersigned bondsman. In witness whereof, I have set my hand and affixed my seal this ___ day of __________, 19___. _ (L.S.) Notary Public __________ My commission expires: __________."
S.C. Code Ann. § 38-69-10 — SC Code / Title 38 / Chapter 69 / Article 1 / Section 38-69-10
SECTION 38-69-10. Circulation of false or misleading information by insurers.
Status: in_force

No insurer doing business in this State and no officer, director, or agent of it may issue or circulate or cause or permit to be issued or circulated any estimate, illustration, circular, or statement of any sort misrepresenting the terms of any annuity issued by it, the benefits or advantages promised thereby, or the dividends or shares of surplus to be received thereon or may use any name or title of any annuity or class of annuities misrepresenting the true nature thereof. Violation of this section by an agent or officer of an insurer is a misdemeanor. If an insurer violates or participates in the violation of this section, the insurer is subject to the penalty provisions of Section 38-2-10.
S.C. Code Ann. § 38-59-20 — SC Code / Title 38 / Chapter 59 / Article 1 / Section 38-59-20
SECTION 38-59-20. Improper claim practices.
Status: in_force

Any of the following acts by an insurer doing accident and health insurance, property insurance, casualty insurance, surety insurance, marine insurance, or title insurance business, if committed without just cause and performed with such frequency as to indicate a general business practice, constitutes improper claim practices: (1) Knowingly misrepresenting to insureds or third-party claimants pertinent facts or policy provisions relating to coverages at issue or providing deceptive or misleading information with respect to coverages. (2) Failing to acknowledge with reasonable promptness pertinent communications with respect to claims arising under its policies, including third-party claims arising under liability insurance policies. (3) Failing to adopt and implement reasonable standards for the prompt investigation and settlement of claims, including third-party liability claims, arising under its policies. (4) Not attempting in good faith to effect prompt, fair, and equitable settlement of claims, including third-party liability claims, submitted to it in which liability has become reasonably clear. (5) Compelling policyholders or claimants, including third-party claimants under liability policies, to institute suits to recover amounts reasonably due or payable with respect to claims arising under its policies by offering substantially less than the amounts ultimately recovered through suits brought by the claimants or through settlements with their attorneys employed as the result of the inability of the claimants to effect reasonable settlements with the insurers. (6) Offering to settle claims, including third-party liability claims, for an amount less than the amount otherwise reasonably due or payable based upon the possibility or probability that the policyholder or claimant would be required to incur attorneys' fees to recover the amount reasonably due or payable. (7) Invoking or threatening to invoke policy defenses or to rescind the policy as of its inception, not in good faith and with a reasonable expectation of prevailing with respect to the policy defense or attempted rescission, but for the primary purpose of discouraging or reducing a claim, including a third-party liability claim. (8) Any other practice which constitutes an unreasonable delay in paying or an unreasonable failure to pay or settle in full claims, including third-party liability claims, arising under coverages provided by its policies.
S.C. Code Ann. § 38-69-230 — SC Code / Title 38 / Chapter 69 / Article 5 / Section 38-69-230
SECTION 38-69-230. Provisions required in contracts; provision for termination for nonpayment of consideration.
Status: in_force

In the case of contracts issued on or after the operative date of this article as defined in Section 38-69-320, no contract of annuity, except as stated in Section 38-69-220, may be delivered or issued for delivery in this State unless it contains in substance the following provisions, or corresponding provisions which in the opinion of the director or his designee are at least as favorable to the contractholder, upon cessation of payment of considerations under the contract: (a) That upon cessation of payment of considerations under a contract, the insurer shall grant a paid-up annuity benefit on a plan stipulated in the contract of such value as is specified in Sections 38-69-250, 38-69-260, 38-69-270, 38-69-280, and 38-69-300. (b) If a contract provides for a lump sum settlement at maturity, or at any other time, that, upon surrender of the contract at or prior to the commencement of any annuity payments, the insurer will pay in lieu of any paid-up annuity benefit a cash surrender benefit of the amount as is specified in Sections 38-69-250, 38-69-260, 38-69-270, 38-69-280, and 38-69-300. The insurer shall reserve the right to defer the payment of the cash surrender benefit for a period of six months after demand therefor with surrender of the contract. (c) A statement of the mortality table, if any, and interest rates used in calculating any minimum paid-up annuity, cash surrender, or death benefits that are guaranteed under the contract, together with sufficient information to determine the amounts of these benefits. (d) A statement that any paid-up annuity, cash surrender, or death benefits that may be available under the contract are not less than the minimum benefits required by any statute of the state in which the contract is delivered and an explanation of the manner in which the benefits are altered by the existence of any additional amounts credited by the insurer to the contract, any indebtedness to the insurer on the contract, or any prior withdrawals from or partial surrenders of the contract. Notwithstanding the requirements of this section, any deferred annuity contract may provide that, if no considerations have been received under a contract for a period of two full years and the portion of the paid-up annuity benefit at maturity on the plan stipulated in the contract arising from considerations paid prior to that period would be less than twenty dollars monthly, the insurer may at its option terminate the contract by payment in cash of the then present value of that portion of the paid-up annuity benefit, calculated on the basis of the mortality table, if any, and interest rate specified in the contract for determining the paid-up annuity benefit. This payment relieves the insurer of any further obligation under the contract.
S.C. Code Ann. § 38-43-75 — SC Code / Title 38 / Chapter 43 / Article 1 / Section 38-43-75
SECTION 38-43-75. Lines of insurance for which producer may qualify for license; nonresident continuing education.
Status: in_force

(A) Unless denied licensure pursuant to Section 38-43-130, persons who have met the requirements of Section 38-43-100 must be issued an insurance producer license. An insurance producer may receive qualification for a license in one or more of the following lines of insurance: (1) life insurance coverage on human lives including benefits of endowment and annuities, and may include benefits in the event of death or dismemberment by accident and benefits for disability income; (2) accident and health insurance coverage for sickness, bodily injury, or accidental death and may include benefits for disability income; (3) property insurance coverage for the direct or consequential loss or damage to property of every kind; (4) casualty insurance coverage against legal liability, including that for death, injury, or disability or damage to real or personal property; (5) variable life and variable annuity products-insurance coverage provided under variable life insurance contracts, or variable annuities; (6) personal lines property and casualty insurance coverage sold to individuals and families for primarily noncommercial purposes; (7) limited line insurance; (8) any other line of insurance permitted under state laws or regulations. (B) The director or his designee shall waive any license application requirements for a nonresident license applicant with a valid license from his home state, except the requirements imposed by this section, if the applicant's home state awards nonresident licenses to residents of this State on the same basis. (C) A nonresident producer's satisfaction of his home state's continuing education requirements for licensed insurance producers shall constitute satisfaction of this state's continuing education requirements if the nonresident producer's home state recognizes the satisfaction of its continuing education requirements imposed upon producers from this State on the same basis.
S.C. Code Ann. § 38-27-580 — SC Code / Title 38 / Chapter 27 / Article 5 / Section 38-27-580
SECTION 38-27-580. Disputed claims.
Status: in_force

(a) When a claim is denied in whole or in part by the liquidator, written notice of the determination must be given to the claimant or his attorney by first class mail at the address shown in the proof of claim. Within sixty days from the mailing of the notice, the claimant may file his objections with the liquidator. If no filing is made, the claimant may not further object to the determination. (b) Whenever objections are filed with the liquidator and the liquidator does not alter his denial of the claim as a result of the objections, the liquidator shall ask the court for a hearing as soon as practicable and give notice of the hearing by first class mail to the claimant or his attorney and to any other persons directly affected, not less than ten nor more than thirty days before the date of the hearing. The matter may be heard by the court or by a court-appointed referee who shall submit findings of fact along with his recommendation.
S.C. Code Ann. § 38-72-80 — SC Code / Title 38 / Chapter 72 / Section 38-72-80
SECTION 38-72-80. Severability; application of chapter.
Status: in_force

(A) If a provision of this chapter or the application of it to a person or circumstance is for any reason held to be invalid, the remainder of the chapter and the application of the provisions to other persons or circumstances is not affected. (B) The requirements of this chapter apply to policies delivered or issued for delivery in this State on or after its effective date.
S.C. Code Ann. § 38-99-70 — SC Code / Title 38 / Chapter 99 / Section 38-99-70
SECTION 38-99-70. Exemptions from provisions of chapter.
Status: in_force

(A) The following licensees are exempt from the provisions of Section 38-99-20: (1) a licensee with fewer than ten employees, including any independent contractors; (2) an employee, agent, representative, or designee of a licensee, who is also a licensee, is exempt from the provisions of Section 38-99-20 and need not develop its own information security program to the extent that the employee, agent, representative, or designee is covered by the information security program of the other licensee; and (3) a licensee subject to the Health Insurance Portability and Accountability Act, Pub.L. 104-191, 110 Stat. 1936, that has established and maintains an information security program pursuant to such statutes, rules, regulations, procedures, or guidelines established thereunder, will be considered to meet the requirements of Section 38-99-20, provided that the licensee is compliant with, and submits a written statement certifying its compliance with, the provisions of Section 38-99-20. (B) In the event that a licensee ceases to qualify for an exception, such licensee shall have one hundred and eighty days to comply with this chapter. Editor's Note 2018 Act No. 171, SECTIONS 1 and 2, provide as follows: "SECTION 1. The purpose and intent of this act is to establish standards for data security and standards for the investigation of and notification to the director of a cybersecurity event applicable to licensees. This act may not be construed to create or imply a private cause of action for a violation of its provisions nor may it be construed to curtail a private cause of action which would otherwise exist in the absence of this act. "SECTION 2. This act is known and may be cited as the 'South Carolina Insurance Data Security Act'." Effect of Amendment 2019 Act No. 6, SECTION 11, in (A), substituted "Section 38-99-20" for "this chapter", in (2), substituted "Section 38-99-20" for "this chapter", in (3), substituted "Section 38-99-20" for "this chapter" in two places, and made nonsubstantive changes.
S.C. Code Ann. § 38-45-190 — SC Code / Title 38 / Chapter 45 / Section 38-45-190
SECTION 38-45-190. Authority of director.
Status: in_force

(A) For the purposes of carrying out the Nonadmitted and Reinsurance Reform Act of 2010, the director or his designee may enter into an agreement with a single state to facilitate the collection, allocation, and disbursement of premium taxes attributable to the placement of surplus lines insurance, provide for uniform methods of allocation and reporting among surplus lines insurance risk classifications, and share information among states relating to surplus lines insurance premium taxes. The General Assembly may approve, modify, or rescind any such agreement. (B) The director or his designee is authorized to participate in a clearing house established through a multistate agreement approved by the General Assembly for the purpose of collecting and disbursing to reciprocal states any funds collected pursuant to subsection (A) applicable to properties, risks, or exposures located or to be performed outside of this State. To the extent that other states where portions of the properties, risks, or exposures reside have failed to enter into an agreement or reciprocal allocation procedure with this State, the net premium tax collected shall be retained by this State.
S.C. Code Ann. § 38-7-10 — SC Code / Title 38 / Chapter 7 / Section 38-7-10
SECTION 38-7-10. License fees for insurers.
Status: in_force

(A) Every insurer, except mutual benevolent aid associations and fraternal benefit associations, before transacting business in this State shall pay a license fee of eight hundred dollars to the department and after that initial payment pay to the department a biennial license fee of eight hundred dollars by March first every other year. (B) In addition to the license fees required in subsection (A), the director or his designee shall collect from each insurer licensed by him to do business in this State a license fee of four hundred dollars for each kind of insurance for which the insurer is licensed as listed in Section 38-5-30(a) through (g). Each mutual insurer doing a property business only in no more than three counties shall pay a biennial fixed license fee of one hundred dollars and each mutual insurer doing a property business only in a single county shall pay a biennial fixed license fee of forty dollars. The license fees required in this subsection must be paid to the director or his designee before the insurer transacts business in this State and after that initial payment must be paid biennially to the director or his designee by March first every two years.
S.C. Code Ann. § 38-51-60 — SC Code / Title 38 / Chapter 51 / Section 38-51-60
SECTION 38-51-60. Books and records required.
Status: in_force

Every administrator shall maintain at its principal administrative office for the duration of the written agreement referred to in Section 38-51-40 and five years thereafter adequate books and records of all transactions among the administrator, insurers, and insured persons. The books and records must be maintained in accordance with prudent standards of insurance record keeping. The director or his designee shall have access to the books and records for the purpose of examination, audit, and inspection, and information from the records must be furnished to the director or his designee on demand. Any trade secrets contained therein, including, but not limited to, the identity and addresses of policyholders and certificate holders, are confidential, except that the director or his designee may use the information in any proceedings instituted against the administrator. The insurer shall retain the right to continuing access to the books and records of the administrator sufficient to permit the insurer to fulfill all of its contractual obligations to insured persons, subject to any restrictions in the written agreement between the insurer and administrator on the proprietary rights of the parties in such books and records.
S.C. Code Ann. § 38-71-540 — SC Code / Title 38 / Chapter 71 / Article 3 / Section 38-71-540
SECTION 38-71-540. Regulations establishing minimum standards for benefits.
Status: in_force

(a) The department shall promulgate regulations to establish minimum standards for benefits under each of the following categories of coverage in individual policies of accident and health insurance or subscriber contracts of nonprofit hospital, medical, and dental service associations, other than conversion policies issued pursuant to a contractual conversion privilege under a group policy: (1) basic hospital expense coverage; (2) basic medical-surgical expense coverage; (3) hospital confinement indemnity coverage; (4) major medical expense coverage; (5) disability income protection coverage; (6) accident-only coverage; and (7) specified disease or specified accident coverage. (b) This section does not preclude the issuance of any policy or contract which combines two or more of the categories of coverage enumerated in items (1) through (6) of subsection (a). (c) No policy or contract may be delivered or issued for delivery in this State which does not meet the prescribed minimum standards for the categories of coverage listed in items (1) through (7) of subsection (a) which are contained within the policy or contract unless the director or his designee finds the policy or contract will be in the public interest and the policy or contract meets the requirements set forth in Section 38-71-310. (d) The department shall by regulation prescribe the method of identification of policies and contracts based upon overages provided.
S.C. Code Ann. § 38-70-50 — SC Code / Title 38 / Chapter 70 / Section 38-70-50
SECTION 38-70-50. Application and registration fees.
Status: in_force

(A) Every private review agent, before transacting business in this State, shall pay an application fee of not more than four hundred dollars and a registration fee of not more than eight hundred dollars to the department by July first each even-numbered year. The certificate year runs July first to the following June thirtieth. (B) The department shall promulgate regulations necessary to establish these registration and application fees.
S.C. Code Ann. § 38-73-1105 — SC Code / Title 38 / Chapter 73 / Article 9 / Section 38-73-1105
SECTION 38-73-1105. Insurer's use of definition of "underinsured motor vehicle".
Status: in_force

The definition of "underinsured motor vehicle" contained in Section 38-77-30(15) may not be used by an insurer unless the insurer reduces his rate for underinsured motorist coverage by an amount determined appropriate by the director or his designee and refunds any such premium that the director or his designee determines is necessary to correspond with the new definition. An insurer may not use the definition in its settlement negotiations unless the insurer has filed and the director or his designee has approved an endorsement to its contract. If an insurer uses the new definition in its negotiations with a person before having the contract endorsed it is an unfair claims practice and, in addition, is bad faith entitling the injured person to reasonable attorney fees, punitive damages, and all actual damages.
S.C. Code Ann. § 38-43-730 — SC Code / Title 38 / Chapter 43 / Article 6 / Section 38-43-730
SECTION 38-43-730. Offer and dissemination of travel insurance under limited lines travel insurance producer license; brochures; prohibited acts.
Status: in_force

(A) A travel retailer only may offer and disseminate travel insurance under a limited lines travel insurance producer license if: (1) the limited lines travel insurance producer or travel retailer provides purchasers of travel insurance the following information on a form prescribed by the director: (a) a description of the material terms or the actual material terms of the insurance coverage; (b) a description of the process for filing a claim; (c) a description of the review or cancellation process for the travel insurance policy; and (d) the identity and contact information of the insurer and limited lines travel insurance producer; (2) the limited lines travel insurance producer, at the time of licensure, establishes and subsequently maintains and updates a register of each travel retailer that offers insurance on its behalf, including the name, address, and contact information of the travel retailer and an officer or person who directs or controls the operations of the travel retailer, and the federal employment identification number of the travel retailer; (3) the limited lines travel insurance producer submits the register to the department upon reasonable request; (4) the limited lines travel insurance producer certifies that the travel retailers registered comply with 18 U.S.C. Section 1033; (5) the limited lines travel insurance producer designates one of its employees, who is a licensed individual producer, as the "Designated Responsible Producer" or "DRP" who is responsible for compliance of the limited lines travel insurance producer with the travel insurance laws, rules, and regulations of the State; (6) the DRP, president, secretary, treasurer, and another officer or person who directs or controls the insurance operations of the limited lines travel insurance producer each comply with the fingerprinting requirements applicable to insurance producers in the resident state of the limited lines travel insurance producer; (7) the limited lines travel insurance producer has paid all applicable insurance producer licensing fees; and (8) the limited lines travel insurance producer requires each employee of the travel retailer whose duties include offering and disseminating travel insurance to receive a program of instruction or training, subject to review by the director, and which shall contain instructions on the types of insurance offered, ethical sales practices, and required disclosures to prospective customers, among other things. (B) A travel retailer who offers or disseminates travel insurance shall make brochures or other written materials available to prospective purchasers, and these brochures or other written materials must: (1) provide the identity and contact information of the insurer and the limited lines travel insurance producer; (2) explain that the purchase of travel insurance is not required in order to purchase another product or service from the travel retailer; and (3) explain that an unlicensed travel retailer is permitted to provide general information about the insurance offered by the travel retailer, including a description of the coverage and price, but is not qualified or authorized to answer technical questions about the terms and conditions of the insurance offered by the travel retailer or to evaluate the adequacy of the customer's existing insurance coverage. (C) A travel retailer who is not licensed as an insurance producer may not: (1) evaluate or interpret the technical terms, benefits, and conditions of the offered travel insurance coverage; (2) evaluate or provide advice concerning a prospective purchaser's existing insurance coverage; or (3) hold himself or itself out as a licensed insurer, licensed producer, or insurance expert. Effect of Amendment 2021 Act No. 50, SECTION 3, in (A), deleted "business entity" following "travel insurance producer".
S.C. Code Ann. § 38-71-1950 — SC Code / Title 38 / Chapter 71 / Article 19 / Section 38-71-1950
SECTION 38-71-1950. Requests for external review.
Status: in_force

(A) All requests for external review must be made in writing to the health carrier. (B) A covered person or his authorized representative may make a request for an external review of an adverse determination or final adverse determination only when the amount payable for covered benefits is at least five hundred dollars. (C) A covered person is not entitled to an external review of a retrospective review determination unless the covered person has exhausted the health carrier's internal appeal process and may be held financially responsible for the covered benefits.
S.C. Code Ann. § 38-71-1550 — SC Code / Title 38 / Chapter 71 / Article 15 / Section 38-71-1550
SECTION 38-71-1550. Severability.
Status: in_force

If any provision of this article or the application of any provision to any person or circumstance is held invalid, the invalidity does not affect other provisions or applications of the article which can be given effect without the invalid provision or application, and to this end the provisions of this article are severable.
S.C. Code Ann. § 38-73-1520 — SC Code / Title 38 / Chapter 73 / Article 13 / Section 38-73-1520
SECTION 38-73-1520. Filing certain data and agreement authorizing examination.
Status: in_force

Every advisory organization shall file with the department: (1) a copy of its constitution, its articles of agreement or association or certificate of incorporation, and its bylaws, rules, and regulations governing its activities; (2) a list of its members; (3) the name and address of a resident of this State upon whom notices or orders of the director or his designee or process issued at his discretion may be served; (4) an agreement that the director or his designee may examine the advisory organization in accordance with the provisions of Section 38-73-90.
S.C. Code Ann. § 38-3-220 — SC Code / Title 38 / Chapter 3 / Article 1 / Section 38-3-220
SECTION 38-3-220. Certificates and papers of director as evidence.
Status: in_force

Every certificate or other paper executed by the director or his designee in pursuance of any authority conferred upon him by law and sealed with the seal of the department and all copies of papers certified by the director or his designee and authenticated by the director's or his designee's seal may in all cases be used as evidence in any suit or proceeding in any court of this State with the same force and effect as the originals.
S.C. Code Ann. § 38-17-120 — SC Code / Title 38 / Chapter 17 / Section 38-17-120
SECTION 38-17-120. Disposition of funds advanced to make up deficiencies.
Status: in_force

When funds other than those which have accrued from premiums or deposits of subscribers are supplied to make up a deficiency as provided in Section 38-17-100, they must be deposited and held for the benefit of subscribers under any terms and conditions the director or his designee may require as long as a deficiency exists and thereafter returned to the depositors.
S.C. Code Ann. § 38-19-30 — SC Code / Title 38 / Chapter 19 / Article 1 / Section 38-19-30
SECTION 38-19-30. Organization, governance, and operation as domestic business corporations; applicability of Business Corporation Act.
Status: in_force

(A) Except as otherwise provided by law, every domestic mutual insurer must be organized, governed, and operated as a domestic business corporation under and in accordance with the South Carolina Business Corporation Act of 1988, (the "Business Corporation Act"). Without limiting the generality of the foregoing, the provisions of the Business Corporation Act concerning the rights and duties of a stock corporation and its shareholders in respect of one another shall apply to a domestic mutual insurer and its members as if the insurer were a stock corporation and its members were shareholders therein. (B) Notwithstanding subsection (A), as to any domestic mutual insurer existing on the effective date of this subsection and organized prior to that date under any South Carolina statute other than the Business Corporation Act, such domestic mutual insurer shall continue to be organized under such statute, and the Business Corporation Act applies to the governance and operation of that domestic mutual insurer only to the extent the Business Corporation Act does not conflict with the statute under which that domestic mutual insurer was organized or with any other insurance law of this State. (C) A corporation organized under Chapter 13 or Chapter 14, Title 37 of the South Carolina Code of Laws (1962), or any predecessor statutes, and subsequently licensed as a domestic mutual insurer under the laws of this State, as of the date of the licensure and for all purposes, must be deemed to have been reconstituted as a domestic mutual insurer under the insurance laws of this State as then in effect and rechartered as a domestic business corporation under the business corporation law then in effect.
S.C. Code Ann. § 38-79-120 — SC Code / Title 38 / Chapter 79 / Article 3 / Section 38-79-120
SECTION 38-79-120. Association created; membership as a condition of authority to transact insurance; purpose.
Status: in_force

(1) A joint underwriting association (association) is created, containing as members all insurers authorized to write and report net-direct written premiums for medical malpractice insurance, medical professional liability insurance, hospital professional liability insurance, or any other type of professional liability insurance in this State covering the professional liability risks of licensed health care providers. Membership also includes foreign and domestic risk retention groups and captive insurers authorized to write and report net-direct premiums for medical malpractice insurance, medical professional liability insurance, hospital professional liability insurance, or any other type of professional liability insurance in this State covering the professional liability risk of licensed health care providers, and authorized to do business in accordance with the provisions of this title. The South Carolina Insurance Reserve Fund is not a member of the association. Each insurer described above is and must remain a member of the association as a condition of the authorization to transact the sale of insurance in this State. The membership of the association shall continue as members in the South Carolina Medical Malpractice Association upon its creation as provided in Section 38-79-300. (2) The purpose of the association is to ensure the availability of medical malpractice and other types of professional liability insurance for health care providers on a self-supporting basis to the fullest extent possible. The intent of the General Assembly in enacting this section is to eliminate the accumulated deficit of the association and of the fund and to transition the association over time to a market of last resort so that it is no longer in competition with the private market. Specifically, the General Assembly does not intend that the South Carolina Joint Underwriting Association offer rates that are competitive to the private market. Editor's Note 2005 Act No. 32, SECTION 15, provides as follows: "As a majority of the health care community is insured through the South Carolina Medical Malpractice Joint Underwriting Association and the Patients' Compensation Fund and as it is essential for the General Assembly to understand the effects of changes to tort laws, the South Carolina Department of Insurance is given authority to request data regarding changes in claims practices from the South Carolina Medical Malpractice Joint Underwriting Association and the Patients' Compensation Fund. Such data may include paid claims, paid loss adjustment expense, case reserves, bulk reserves, and claim counts by quarter for the previous five years. The department may make such a request of the South Carolina Medical Malpractice Joint Underwriting Association and the Patients' Compensation Fund and such information must be provided within thirty days. "The Department of Insurance shall report annually to the Speaker of the House of Representatives, the President Pro Tempore of the Senate, and the Governor as to whether this and other related enactments have resulted in reductions in premiums and as to any other trends of significance which might impact premium cost." 2005 Act No. 32, SECTION 21(B), provides as follows: "Upon approval by the Governor, this act takes effect July 1, 2005, for causes of action arising after July 1, 2005, except that as of this act's effective date, the State Treasurer shall relinquish the management of funds in the Patients' Compensation Fund, created pursuant to Section 38-79-420, to the Board of Governors of the fund, and premiums paid on or after this act's effective date must be deposited with the Board of Governors of the fund. The fund must be fully transferred to the Board of Governors, and the State Treasurer may not hold any deposits of the fund as of ninety days after this act's effective date." Effect of Amendment 2019 Act No. 67, SECTION 1, rewrote the section, altering the membership of the association.
S.C. Code Ann. § 38-27-520 — SC Code / Title 38 / Chapter 27 / Article 5 / Section 38-27-520
SECTION 38-27-520. Recovery of premiums owed.
Status: in_force

(a)(1) An agent, broker, premium finance company, or any other person, other than the insured, responsible for the payment of a premium is obligated to pay any unpaid collected premium held by such person at the time of the declaration of insolvency, whether earned or unearned, and any unpaid earned premium, all as shown on the records of the insurer. An agent, broker, premium finance company, or any other person shall have no obligation to pay an uncollected unpaid unearned premium to the liquidator. The liquidator has the right to recover from that person any part of an unearned premium that represents that person's commission. Credits or setoffs or both are not allowed to an agent, broker, or premium finance company for any amounts advanced to the insurer by the agent, broker, or premium finance company on behalf of, but in the absence of a payment by, the insured. (2) An insured is obligated to pay any unpaid earned premium due the insurer at the time of the declaration of insolvency, as shown on the records of the insurer. (b) Upon satisfactory evidence of a violation of this section, the director or his designee may pursue either one or both of the following courses of action: (1) Suspend or revoke or refuse to renew the licenses of the offending party or parties. (2) Impose a penalty of not more than one thousand dollars for each and every act in violation of this section by the party or parties. (c) Before the director or his designee takes any action as set forth in subsection (b), he shall give written notice to the person, company, association, or exchange accused of violating the law, stating specifically the nature of the alleged violation and advising of an opportunity of hearing to be held at least ten days thereafter. After the hearing, upon failure of the accused to appear at the hearing, or upon failure to request the hearing, the director or his designee, if he finds a violation, shall impose the penalties under subsection (b) he considers advisable. (d) When the director or his designee takes action in any or all of the ways set out in subsection (b), the party aggrieved may appeal from the action to the Administrative Law Court as provided by law.
S.C. Code Ann. § 38-43-170 — SC Code / Title 38 / Chapter 43 / Article 1 / Section 38-43-170
SECTION 38-43-170. Personal liability of producers on contracts of unauthorized insurers.
Status: in_force

An insurance producer is personally liable on all contracts of insurance unlawfully made by or through him, directly or indirectly, for an insurer not authorized to do business in this State. A person who writes or signs any open policy, certificate, blank, or coupon of, or furnished by, an unlicensed company, producer, or broker, the effect of which is to bind any insurance in an unlicensed insurer on property in this State, is the producer of the insurer and personally liable for all licenses and taxes due on account of the transaction.
S.C. Code Ann. § 38-53-180 — SC Code / Title 38 / Chapter 53 / Section 38-53-180
SECTION 38-53-180. Receipt for collateral required.
Status: in_force

When a professional or surety bondsman accepts collateral, he shall give a written receipt for the collateral. This receipt shall give in detail a full description of the collateral received.
S.C. Code Ann. § 38-78-80 — SC Code / Title 38 / Chapter 78 / Section 38-78-80
SECTION 38-78-80. Termination of reimbursement insurance policy.
Status: in_force

As applicable, an insurer that issued a reimbursement insurance policy may not terminate the policy until a notice of termination in accordance with Chapter 75 of this title has been mailed or delivered to the director. The termination of a reimbursement insurance policy does not reduce the issuer's responsibility for service contracts issued by providers before the date of the termination.
S.C. Code Ann. § 38-43-230 — SC Code / Title 38 / Chapter 43 / Article 1 / Section 38-43-230
SECTION 38-43-230. Suspension or revocation of licenses for violating Section 38-43-210 or 38-43-220.
Status: in_force

A person violating Section 38-43-210 or 38-43-220 may, in the discretion of the director or his designee or the Securities Commissioner, as the case may be, be suspended as a licensed insurance producer or licensed stockbroker for the period of time he considers proper, or either the director, his designee, or the Securities Commissioner may revoke the license immediately if he considers the violation merits this action.
S.C. Code Ann. § 38-81-310 — SC Code / Title 38 / Chapter 81 / Article 3 / Section 38-81-310
SECTION 38-81-310. Rate increases or assessments.
Status: in_force

The association may provide a rate increase or assessment subject to the approval of the director or his designee.
S.C. Code Ann. § 38-26-110 — SC Code / Title 38 / Chapter 26 / Section 38-26-110
SECTION 38-26-110. Power to promulgate regulations.
Status: in_force

The department may promulgate regulations necessary for the implementation of this chapter.
S.C. Code Ann. § 38-73-320 — SC Code / Title 38 / Chapter 73 / Article 3 / Section 38-73-320
SECTION 38-73-320. Insurance subject to both this article and Article 5.
Status: in_force

If any kind of insurance, subdivision, or combination thereof or type of coverage subject to this article is also subject to regulation under Article 5 of this chapter, an insurer to which both articles are otherwise applicable shall file with the department a designation as to which regulatory article shall be applicable to it with respect to that kind of insurance, subdivision, or combination thereof or type of coverage.
S.C. Code Ann. § 38-65-60 — SC Code / Title 38 / Chapter 65 / Article 1 / Section 38-65-60
SECTION 38-65-60. Requirements of group life policies extended to group life policies issued outside State to residents; prior approval needed for mass-marketed policies and certificates.
Status: in_force

(1) No life insurance coverage may be extended to residents of this State under a policy of group insurance issued outside this State which does not provide in substance the provisions of Section 38-65-210 unless the director or his designee determines that certain provisions are not appropriate for the coverage provided. (2) Any insurer extending life insurance under a group policy issued outside this State to residents of this State shall comply with the requirements of this State relating to advertising and to claims settlement practices with respect to the insurance. (3) Upon request of the director or his designee, copies of policies and certificates under a policy of group life insurance issued outside this State and covering residents of this State must be made available on an informational basis only. However, mass-marketed life insurance policies and certificates must have approval of the director or his designee pursuant to Section 38-61-20 before they can be offered for sale to residents of this State.
S.C. Code Ann. § 38-71-1390 — SC Code / Title 38 / Chapter 71 / Article 13 / Section 38-71-1390
SECTION 38-71-1390. Application to become risk-assuming insurer; approval or denial; factors to consider.
Status: in_force

(A) Any small employer insurer may elect to become a risk-assuming insurer upon application to and approval by the director. A small employer insurer shall not be approved as a risk-assuming insurer if the director finds that the insurer is not capable of assuming that status pursuant to the criteria set forth in subsection (B) of this section. The insurer shall provide public notice of its application to become a risk-assuming insurer. A small employer insurer's application to be a risk-assuming insurer shall be approved unless disapproved by the director within sixty days after the insurer's application. A small employer insurer that has had its application to be a risk-assuming insurer disapproved may request and shall be granted a public hearing within sixty days after the disapproval. (B) In determining whether or not to approve an application by a small employer insurer to become a risk-assuming insurer, the director shall consider the insurer's financial condition and the financial condition of its parent or guaranteeing corporation, if any; its history of assuming and managing risk; its ability to assume and manage the risk of enrolling small employers without the protection of the reinsurance provided in Section 38-71-1410; and its commitment to fairly market to all small employers.
S.C. Code Ann. § 38-13-740 — SC Code / Title 38 / Chapter 13 / Article 7 / Section 38-13-740
SECTION 38-13-740. Examination reports; contents; submission to General Assembly; availability on Internet websites.
Status: in_force

The results of each examination must be compiled in a report. Examination reports must be comprised of only facts appearing on the books, records, or other documents maintained by the Department of Employment and Workforce and as ascertained from the testimony of the executive director and any other employees examined concerning the subject of the examination, and the conclusions and recommendations of the director that he finds warranted from the facts. The reports must be submitted to the General Assembly, the Review Committee, and the Governor, and made available on the Internet websites maintained by the Department of Insurance and the Department of Employment and Workforce.
S.C. Code Ann. § 38-51-100 — SC Code / Title 38 / Chapter 51 / Section 38-51-100
SECTION 38-51-100. Claims.
Status: in_force

All claims paid by the administrator from funds collected on behalf of the insurer must be paid only on drafts of and as authorized by the insurer.
S.C. Code Ann. § 38-13-1080 — SC Code / Title 38 / Chapter 13 / Article 9 / Section 38-13-1080
SECTION 38-13-1080. Effective date of this article.
Status: in_force

The requirements of this article become effective on January 1, 2020. The first filing of the corporate governance annual disclosure must take place on June 1, 2020.
S.C. Code Ann. § 38-9-320 — SC Code / Title 38 / Chapter 9 / Article 3 / Section 38-9-320
SECTION 38-9-320. Preparation and submission of RBC (risk based capital) Report; form and content.
Status: in_force

(A) Every domestic licensee must, on or before each March first filing date, prepare and submit to the director an RBC Report of its RBC Levels as of the end of the preceding calendar year. That RBC Report must be filed in a form and must contain such information required by the RBC Instructions. In addition, every domestic licensee must file its RBC Report: (1) with the NAIC in accordance with the RBC Instructions; and (2) with the chief insurance regulatory officer in a state in which the licensee is authorized to transact business, if that chief insurance regulatory officer has notified the licensee in writing. The licensee must file its RBC Report with that chief insurance regulatory officer no later than fifteen days from its receipt of notice to file or the March first filing date. (B)(1) A life and health insurer's RBC must be determined in accordance with the formula detailed in the RBC Instructions. The formula must be determined in each case by applying the factors in the manner detailed in the RBC Instructions and must take into account, and may adjust for the covariance between: (a) risk with respect to assets; (b) risk of adverse insurance experience with respect to liabilities and obligations; (c) interest rate risk with respect to the insurer's business; and (d) all other business risks and other relevant risks in the RBC Instructions. (2) Each risk must be determined in each case by applying the factors in the manner set forth in the RBC Instructions. (C)(1) A property and casualty insurer's RBC must be determined by applying the factors in the manner detailed in the RBC Instructions and must be determined in accordance with the formula detailed in the RBC Instructions. The formula must take into account, and may adjust for the covariance between: (a) asset risk; (b) credit risk; (c) underwriting risk; and (d) all other business risks and other relevant risks in the RBC Instructions. (2) Each risk must be determined in each case by applying the factors in the manner set forth in the RBC Instructions. (D)(1) A health organization's RBC must be determined by applying the factors in the manner detailed in the RBC Instructions and must be determined in accordance with the formula detailed in the RBC Instructions. The formula must be taken into account, and may adjust for the covariance between: (a) asset risk; (b) credit risk; (c) underwriting risk; and (d) all other business risks and other relevant risks in the RBC Instructions. (2) Each risk must be determined in each case by applying the factors in the manner set forth in the RBC Instructions. (E) An excess of capital over the amount produced by the RBC requirements, formulas, schedules, and instructions contained in this article is desirable. Licensees should seek to maintain capital above the required RBC levels. Additional capital is used and is useful in securing a licensee against various risks inherent in or affecting the business of insurance and not accounted for, or which only may be partially measured, by the RBC requirements contained in this article. (F) If a domestic licensee files an RBC Report which, in the judgment of the director, is inaccurate, then the director must adjust the RBC Report to correct the inaccuracy and must notify the domestic licensee in writing of the adjustment. The notice must include the reasons for the adjustment. Effect of Amendment 2014 Act No. 164, SECTION 2, substituted "licensee" for "insurer" throughout; rewrote subsection (C); added subsection (D); redesignated the remaining subsections accordingly; and made other nonsubstantive changes.
S.C. Code Ann. § 38-33-220 — SC Code / Title 38 / Chapter 33 / Section 38-33-220
SECTION 38-33-220. Fees.
Status: in_force

(A) Every health maintenance organization subject to this chapter shall pay to the department the following fees: (1) for filing an application for a certificate of authority, two thousand dollars; (2) for filing an amendment to the organization documents that requires approval, one hundred dollars; (3) for filing each annual report, one thousand dollars; (4) for transferring a certificate of authority from one entity to another which qualifies for such a certificate of authority, two thousand dollars. (B) Fees charged under this section must be deposited in the general fund of the state. Fees required in this section must be fully earned when paid and are not refundable, proratable, nor transferable.
S.C. Code Ann. § 38-73-1085 — SC Code / Title 38 / Chapter 73 / Article 9 / Section 38-73-1085
SECTION 38-73-1085. Factors affecting premium rates.
Status: in_force

The director or his designee shall make available information regarding the factors that can affect private-passenger premium rates. Effect of Amendment 2023 Act No. 29, SECTION 3, rewrote the section.
S.C. Code Ann. § 38-38-110 — SC Code / Title 38 / Chapter 38 / Article 3 / Section 38-38-110
SECTION 38-38-110. Membership provisions in bylaws or rules.
Status: in_force

(A) A society shall specify in its bylaws or rules: (1) eligibility standards for each and every class of membership, provided that if benefits are provided on the lives of children, the minimum age for adult membership must be set at not less than age fifteen and not greater than age twenty-one; (2) the process for admission to membership for each membership class; and (3) the rights and privileges of each membership class, provided that only benefit members have the right to vote on the management of the insurance affairs of the society. (B) A society also may admit social members who shall have no voice or vote in the management of the insurance affairs of the society. (C) Membership rights in the society are personal to the member and are not assignable.
S.C. Code Ann. § 38-67-50 — SC Code / Title 38 / Chapter 67 / Section 38-67-50
SECTION 38-67-50. Insurance laws applicable; grace, reinstatement, and nonforfeiture provisions; reserve liability for variable contracts.
Status: in_force

Except as otherwise provided in this chapter, all pertinent provisions of the insurance laws of this State apply to separate accounts and contracts relating thereto. However, Article 5, Chapter 63 of this title does not apply to variable life insurance policies. Any individual variable life insurance contract, delivered or issued for delivery in this State, shall contain grace, reinstatement, and nonforfeiture provisions appropriate to such a contract. The reserve liability for variable contracts must be established in accordance with actuarial procedures that recognize the variable nature of the benefits provided and any mortality guarantees.
S.C. Code Ann. § 38-75-990 — SC Code / Title 38 / Chapter 75 / Article 11 / Section 38-75-990
SECTION 38-75-990. Title insurers to make schedules of current premiums and charges available to public.
Status: in_force

(A) Each title insurer and title agent shall print and make available to the public schedules of its currently effective premiums and charges. (B) The schedules shall: (1) be dated to show the date the premiums and charges became effective; (2) be kept available to the public during normal business hours in each office of the title insurer or title agent in this State; and (3) set forth the total premium and charge for each type of title insurance policy or service issued or provided by the title insurer or title agent either by stating the premium or charge for each type of title insurance policy in given amounts of coverage or for each service, or by stating the premium or charge rate a unit amount of coverage, or by a combination of the two. (C) Each title insurer and title agent shall keep a complete file of its schedules of premiums and charges and of all changes and amendments to those schedules until at least five years after they have ceased to be in effect.
S.C. Code Ann. § 38-73-1710 — SC Code / Title 38 / Chapter 73 / Article 15 / Section 38-73-1710
SECTION 38-73-1710. Regulation of joint underwriting and joint reinsurance.
Status: in_force

Every group, association, or other organization of insurers which engages in joint underwriting or joint reinsurance is subject to regulation with respect thereto as herein provided, subject, however, with respect to joint underwriting, to all other provisions of this chapter, and, with respect to joint reinsurance, to Sections 38-73-90 to 38-73-130.
S.C. Code Ann. § 38-77-830 — SC Code / Title 38 / Chapter 77 / Article 8 / Section 38-77-830
SECTION 38-77-830. Assigned Risk Pool.
Status: in_force

Insurance carriers may satisfy their Associated Auto Insurers Plan obligations by joining with other insurers to establish an Assigned Risk Pool whereby one or more insurers accepts the assignments of other insurers and in return, the other insurers agree to be responsible for any assessment necessary to pay losses associated with the servicing carrier's pool policies. These agreements are subject to approval by the director.
S.C. Code Ann. § 38-65-20 — SC Code / Title 38 / Chapter 65 / Article 1 / Section 38-65-20
SECTION 38-65-20. Misrepresentations to induce termination of life insurance policies.
Status: in_force

No insurer, or its employee or agent, may make any misleading representations or incomplete or fraudulent comparisons of any life insurance policies or insurers for the purpose of inducing, or which may tend to induce, any person to lapse, forfeit, surrender, terminate, or return any life insurance policy.
S.C. Code Ann. § 38-19-1020 — SC Code / Title 38 / Chapter 19 / Article 11 / Section 38-19-1020
SECTION 38-19-1020. Directors and officers; regulations.
Status: in_force

The corporation may make by-laws, fixing the number of its board of directors and other officers, and defining the duties and powers of the directors and officers; also making rules and regulations governing the corporation and the conduct of its business, not inconsistent with the laws of this State.
S.C. Code Ann. § 38-25-360 — SC Code / Title 38 / Chapter 25 / Article 5 / Section 38-25-360
SECTION 38-25-360. Personal liability on contracts of unauthorized insurers.
Status: in_force

In the event of failure of an unauthorized insurer to pay any claim or loss within the provisions of the insurance contract, a person who assisted or in any manner aided directly or indirectly in the procurement of the insurance contract is liable to the insured for the full amount of the claim or loss in the manner provided by the insurance contract.
S.C. Code Ann. § 38-21-100 — SC Code / Title 38 / Chapter 21 / Section 38-21-100
SECTION 38-21-100. Certain transactions exempt from Sections 38-21-60 to 38-21-120.
Status: in_force

The provisions of Sections 38-21-60 to 38-21-120 do not apply to: (1) Any transaction which is subject to Article 9, Chapter 19 dealing with the merger or consolidation of two or more insurers. (2) Any offer, request, invitation, agreement, or acquisition which the director or his designee by order exempts as (a) not having been made or entered into for the purpose and not having the effect of changing or influencing the control of a domestic insurer, or (b) as otherwise not comprehended within the purposes of Sections 38-21-60 through 38-21-120.
S.C. Code Ann. § 38-90-610 — SC Code / Title 38 / Chapter 90 / Article 3 / Section 38-90-610
SECTION 38-90-610. Disclosure of information by director.
Status: in_force

Information submitted pursuant to the provisions of this article is confidential and may not be made public by the director or an agent or employee of the director without the prior written consent of the SPFC, except that: (1) information submitted pursuant to the provisions of this article is discoverable by a party in a civil action or contested case to which the submitting SPFC is a party, upon a specific finding by the court that: (a) the SPFC is a necessary party to the action and not joined only for the purposes of evading the confidentiality provisions of this article; (b) the party seeking the information demonstrates by a clear and convincing standard that the information sought is relevant, material to, and necessary for the prosecution or defense of the claim asserted in the action; and (c) the information sought is unavailable from other nonconfidential sources. (2) The director may disclose the information to the public officer having jurisdiction over the regulation of insurance in another state if: (a) the public official agrees in writing to maintain the confidentiality of the information; and (b) the laws of the state in which the public official serves require the information to be confidential. (3) The director may disclose the information to the securities commissioner if he: (a) agrees in writing to maintain the confidentiality of the information; and (b) is authorized under applicable securities law to request the information or the director is obligated to disclose the information.
S.C. Code Ann. § 38-75-750 — SC Code / Title 38 / Chapter 75 / Article 9 / Section 38-75-750
SECTION 38-75-750. Requirements for renewal of policies.
Status: in_force

(a) If an insurer intends to renew a policy, the insurer shall furnish renewal terms and a statement of the amount of premium or estimated premium due for the renewal policy period in the manner required by this section. (b) If the policy being renewed (hereinafter "original policy") is written for a term of one year or less, the renewal terms and statement of premium or estimated premium due must be furnished to the insured not less than thirty days prior to the expiration date of the original policy. (c) If the original policy is written for a term of more than one year or for an indefinite term, the renewal terms and statement of premium or estimated premium due must be furnished to the insured not less than thirty days prior to the anniversary date of the original policy. (d) The insurer may satisfy its obligation to furnish renewal terms and statement of premium or estimated premium due by either of the following methods: (1) mailing or delivering renewal terms and statement to the insured at his address shown in the policy or, if not reflected therein, at his last known address, not less than thirty days prior to expiration or anniversary; or (2) mailing or delivering renewal terms and statement to the agent of record, if any, not less than forty-five days prior to expiration or anniversary, along with instructions that the agent furnish the renewal terms and statement to the insured not less than thirty days prior to expiration or anniversary. (e) If the insurer fails to furnish the renewal terms and statement of premium or estimated premium due in the manner required by this section, the insured may elect to cancel the renewal policy within the thirty-day period following receipt of the renewal terms and statement of premium or estimated premium due. Earned premium for any period of coverage must be calculated pro rata based upon the premium applicable to the original policy and not the premium applicable to the renewal policy.
S.C. Code Ann. § 38-73-510 — SC Code / Title 38 / Chapter 73 / Article 5 / Section 38-73-510
SECTION 38-73-510. Nonpartisan rating bureau for workers' compensation.
Status: in_force

Every workers' compensation insurer, including the parties to any mutual insurance association, must be a member of a nonpartisan rating bureau. The stock and nonstock insurers which are members of the bureau must be represented in the bureau management and on all committees of the bureau. One-half of the members of each committee must be chosen by the stock companies and one-half by the nonstock companies. In a case of a tie vote on any committee the director or his designee shall cast the deciding vote.
S.C. Code Ann. § 38-31-50 — SC Code / Title 38 / Chapter 31 / Section 38-31-50
SECTION 38-31-50. Board of directors.
Status: in_force

(1) The board of directors of the association shall consist of not less than five nor more than nine persons who shall serve terms as established in the plan of operation. Member insurers shall select the members of the board subject to the approval of the director. Any vacancy on the board must be filled for the unexpired portion of the term in the same manner as any initial appointment. (2) In approving selections to the board, the director shall consider, among other things, whether all member insurers are fairly represented. (3) Members of the board may be reimbursed from the assets of the association for expenses incurred by them as members of the board of directors.
S.C. Code Ann. § 38-101-70 — SC Code / Title 38 / Chapter 101 / Section 38-101-70
SECTION 38-101-70. Surplus lines broker; placement of policy providing flood insurance to eligible surplus lines insurer.
Status: in_force

A surplus lines broker may place a policy or endorsement providing flood insurance coverage to an eligible surplus lines insurer without making a diligent effort to seek such coverage from one or more admitted insurers required pursuant to Section 38-45-90. Editor's Note 2020 Act No. 166, SECTION 3, provides as follows: "SECTION 3. This act becomes effective sixty days following approval by the Governor. Insurers that are writing private flood insurance at the time of enactment have an additional one hundred twenty days to come into compliance with the requirements of this act."
S.C. Code Ann. § 38-73-940 — SC Code / Title 38 / Chapter 73 / Article 9 / Section 38-73-940
SECTION 38-73-940. Information in support of filing.
Status: in_force

A filing and any supporting information are open to public inspection after the filing becomes effective. The information furnished in support of a filing under Section 38-73-340 or 38-73-520 may include: (1) the experience or judgment of the insurer or rating organization making the filing; (2) its interpretation of any statistical data it relies upon; (3) the experience of other insurers or rating organizations; and (4) any other relevant factors. A filing and any supporting information are open to public inspection after the filing becomes effective.
S.C. Code Ann. § 38-45-140 — SC Code / Title 38 / Chapter 45 / Section 38-45-140
SECTION 38-45-140. Revocation of license of broker.
Status: in_force

When the director or his designee determines after investigation that a broker has violated this title, he may, upon ten days' notice, impose the penalties provided in Section 38-2-10.
S.C. Code Ann. § 38-48-110 — SC Code / Title 38 / Chapter 48 / Section 38-48-110
SECTION 38-48-110. Right of insured to rescind contract.
Status: in_force

The insured shall have until the close of business on the fifth business day after signing the contract to rescind the agreement. The exercise of the right to rescind the agreement must be in writing and delivered to the public adjuster at the address shown on the agreement. If the insured property that is the subject of the claim is not the primary residence of the insured or used by the insured primarily for personal, family, or household purposes, the insured may waive the right to rescind the agreement. The waiver shall be in writing and signed and dated by the insured.
S.C. Code Ann. § 38-73-220 — SC Code / Title 38 / Chapter 73 / Article 2 / Section 38-73-220
SECTION 38-73-220. Approval process for rate level changes.
Status: in_force

(A) Except as provided in subsection (B), overall average rate-level increases or decreases, for all coverages combined, of seven percent above or below the insurer's rates then in effect may take effect without prior approval on a file and use basis with respect to rates for fire, allied lines, and homeowner's insurance policies. The seven percent cap does not apply on an individual insured basis. (B) Notwithstanding another provision of this chapter, for any policies governed by this section, filings that produce rate-level changes within the limitation specified in subsection (A) become effective without prior approval. No more than two rate increases within the limitation specified in subsection (A) may be implemented during any twelve-month period and the second rate-increase filing in the twelve-month period is subject to prior approval. (C) A rate increase or decrease falling within the limitation in subsection (B) may become effective not less than thirty days after the date of the filing with the director. The filing is considered to meet the requirements of this chapter. If the director finds that this filing is not in compliance with this chapter, he shall issue a written order specifying in detail the provisions with which the insurer has not complied and state a reasonable period in which the filing is considered no longer effective. An order by the director pursuant to this section that is issued more than thirty days from the date on which the director received the rate filing is on a prospective basis only and does not affect any contract issued or made before the effective date of the order. (D) Rate filings falling outside the limitation specified in subsection (B) are subject to the prior approval of the director. The director shall approve or disapprove these filings in accordance with the provisions of Sections 38-73-960 and 38-73-990.
S.C. Code Ann. § 38-67-20 — SC Code / Title 38 / Chapter 67 / Section 38-67-20
SECTION 38-67-20. Statement of essential features of procedures used in determining dollar amount of variable benefits.
Status: in_force

Any contract providing benefits payable in variable amounts delivered or issued for delivery in this State shall contain a statement of the essential features of the procedures to be followed by the insurer in determining the dollar amount of the variable benefits. Any contract under which the benefits vary to reflect investment experience, including a group contract and any certificate in evidence of variable benefits issued thereunder, shall state that the dollar amount will so vary and shall contain on its first page a statement to the effect that the benefits thereunder are on a variable basis.
S.C. Code Ann. § 38-5-100 — SC Code / Title 38 / Chapter 5 / Section 38-5-100
SECTION 38-5-100. Foreign or alien insurers with names identical with or similar to others not qualified.
Status: in_force

No foreign or alien insurer may be licensed to do business in this State when its name is identical with that of any active insurer previously licensed to do business in this State which has engaged in business therein for one year or more. No foreign or alien insurer may be licensed to do business in this State when its name is so nearly similar to that of any active insurer previously licensed to do business in this State which has engaged in business therein for one year or more so as to lead to confusion and uncertainty.
S.C. Code Ann. § 38-59-200 — SC Code / Title 38 / Chapter 59 / Article 2 / Section 38-59-200
SECTION 38-59-200. Citation of article.
Status: in_force

This article may be cited as the "South Carolina Health Care Financial Recovery and Protection Act".
S.C. Code Ann. § 38-21-80 — SC Code / Title 38 / Chapter 21 / Section 38-21-80
SECTION 38-21-80. Use of certain documents required by other laws in furnishing information called for in statement.
Status: in_force

If any offer, request, invitation, agreement, or acquisition referred to in Section 38-21-60 is proposed to be made by means of a registration statement under the Securities Act of 1933 or in circumstances requiring the disclosure of similar information under the Securities Exchange Act of 1934, or under a state law requiring similar registration or disclosure, the person required to file the statement referred to in Section 38-21-60 may utilize these documents in furnishing the information called for by that statement.
S.C. Code Ann. § 38-13-170 — SC Code / Title 38 / Chapter 13 / Article 1 / Section 38-13-170
SECTION 38-13-170. Penalties for making or aiding in making false statement.
Status: in_force

If an insurer, in its annual or other statement required by law, wilfully misstates the facts, the insurer and the person signing the statement and any person aiding, abetting, or participating in the making of the statement are guilty of a felony, and upon conviction, must be fined not more than two thousand dollars or imprisoned not more than five years, or both. The insurer, upon conviction, forfeits its right to do business in this State.
S.C. Code Ann. § 38-77-141 — SC Code / Title 38 / Chapter 77 / Article 3 / Section 38-77-141
SECTION 38-77-141. Required notice to be attached to new policy or original premium notice of insurance covering liability regarding insurance premiums.
Status: in_force

No new policy or original premium notice of insurance covering liability arising out of the ownership, maintenance, or use of a motor vehicle may be issued or delivered unless it contains the following statement printed in boldface type, or unless the statement is attached to the front of or is enclosed with the policy or premium notice: "IMPORTANT NOTICE IN ADDITION TO THE INSURANCE COVERAGE REQUIRED BY LAW TO PROTECT YOU AGAINST A LOSS CAUSED BY AN UNINSURED MOTORIST, IF YOU HAVE PURCHASED LIABILITY INSURANCE COVERAGE THAT IS HIGHER THAN THAT REQUIRED BY LAW TO PROTECT YOU AGAINST LIABILITY ARISING OUT OF THE OWNERSHIP, MAINTENANCE, OR USE OF THE MOTOR VEHICLES COVERED BY THIS POLICY, AND YOU HAVE NOT ALREADY PURCHASED UNINSURED MOTORIST INSURANCE COVERAGE EQUAL TO YOUR LIABILITY INSURANCE COVERAGE: (1) YOUR UNINSURED AND UNDERINSURED MOTORIST INSURANCE COVERAGE HAS INCREASED TO THE LIMITS OF YOUR LIABILITY COVERAGE AND THIS INCREASE WILL COST YOU AN EXTRA PREMIUM CHARGE; AND (2) YOUR TOTAL PREMIUM CHARGE FOR YOUR MOTOR VEHICLE INSURANCE COVERAGE WILL INCREASE IF YOU DO NOT NOTIFY YOUR AGENT OR INSURER OF YOUR DESIRE TO REDUCE COVERAGE WITHIN TWENTY DAYS OF THE MAILING OF THE POLICY OR THE PREMIUM NOTICE, AS THE CASE MAY BE; (3) IF THIS IS A NEW POLICY AND YOU HAVE ALREADY SIGNED A WRITTEN REJECTION OF SUCH HIGHER LIMITS IN CONNECTION WITH IT, PARAGRAPHS (1) AND (2) OF THIS NOTICE DO NOT APPLY." After twenty days, the insurer is relieved of the obligation imposed by this subsection to attach or imprint the foregoing statement to any subsequently delivered renewal policy, extension certificate, other written statement of coverage continuance, or to any subsequently mailed premium notice.
S.C. Code Ann. § 38-46-30 — SC Code / Title 38 / Chapter 46 / Section 38-46-30
SECTION 38-46-30. Licensing requirement for intermediary-broker and intermediary-manager; bond; requisites for licensing; fee; refusal of license; designation of person to receive process; attorneys exempt.
Status: in_force

(A) No person may act as a reinsurance intermediary-broker in this State if he maintains an office directly or as a member or an employee of a firm or an association or as an officer, a director, or an employee of a corporation in: (1) this State unless the reinsurance intermediary-broker is a licensed producer in this State; or (2) another state unless the reinsurance intermediary-broker is a licensed producer in that state and is licensed in this State as a reinsurance intermediary. The license may be a nonresident license. (B) No person may act as a reinsurance intermediary-manager: (1) for a reinsurer domiciled in this State, unless the reinsurance intermediary-manager is a licensed producer in this State; (2) in this State if the reinsurance intermediary-manager maintains an office directly or as a member or an employee of a firm or an association or an officer, a director, or an employee of a corporation in this State unless the reinsurance intermediary-manager is a licensed producer in this State; (3) in another state for a foreign insurer, unless the reinsurance intermediary-manager is a licensed producer in that state and is licensed in this State as a reinsurance intermediary. The license may be a nonresident license. (C) For the protection of the reinsurer, the director or his designee shall require a reinsurance intermediary-manager subject to subsection (B) to file a fifty thousand dollar bond for each reinsurer represented. The bond must be issued by an insurer acceptable to the director or his designee. (D)(1) The director or his designee may issue a reinsurance intermediary license to a person who has: (a) demonstrated compliance with the requirements of this chapter; (b) completed satisfactorily an application for a license on forms prepared by the director or his designee; (c) paid a licensing fee of one hundred dollars in connection with the issuance or annual renewal of the license. (2) If the applicant for a reinsurance intermediary license is a nonresident, the applicant, as a condition precedent to receiving or holding a license, shall designate a resident of this State upon whom notices or orders of the director or his designee or process affecting the nonresident reinsurance intermediary may be served. The licensee shall notify the department in writing within thirty days of every change in its designated agent for service of process, and the change does not become effective until acknowledged by the director or his designee. (E) The director or his designee may refuse to issue a reinsurance intermediary license if, in his judgment, the applicant, a person named on the application, or a member, a principal, an officer, or a director of the applicant is not trustworthy or a controlling person of the applicant is not trustworthy to act as a reinsurance intermediary or if one or more of the foregoing has given cause for revocation or suspension of the license or has failed to comply with a prerequisite for the issuance of the license. Upon written request the director or his designee shall furnish a summary of the basis for refusal to issue a license. No reinsurance intermediary license may be refused except on reasonable notice and opportunity to be heard afforded the applicant. An applicant whose application has been denied may appeal as provided in Section 38-3-210. (F) Licensed attorneys of this State when acting in their professional capacity are exempt from this section.
S.C. Code Ann. § 38-53-102 — SC Code / Title 38 / Chapter 53 / Section 38-53-102
SECTION 38-53-102. Suspension of license.
Status: in_force

Notwithstanding any other provision of law, the department must suspend for a period of five years the license of a bail bondsman, his associates, affiliates, or runners who refer defendants to attorneys. However, nothing contained in this section shall be construed to prohibit a bail bondsman, his associates, affiliates, or runners from indicating to a defendant that he should contact an attorney for professional assistance, as long as the bail bondsman, his associates, affiliates, or runners do not mention or in any other manner suggest or indicate a particular attorney or law firm by name.
S.C. Code Ann. § 38-59-25 — SC Code / Title 38 / Chapter 59 / Article 1 / Section 38-59-25
SECTION 38-59-25. Coverage decisions not constituting practice of medicine.
Status: in_force

A determination of medical necessity of a decision affecting the diagnosis and/or treatment of a patient is not the practice of medicine, provided: (A) it is a coverage decision denying health care services by an insurer that is based on a finding that the provision of a particular service is included or excluded as a covered benefit under the terms and conditions of the health care service plan contract; or (B) it is a coverage decision approving a covered benefit for health care services that provides for the diagnosis, treatment, cure, or relief of a health condition, illness, injury, or disease; or (C) it is a coverage decision denying coverage for a covered benefit for a health care service that provides diagnosis, treatment, cure, or relief of a health condition, illness, injury, or disease excluding, except where otherwise provided for by law, experimental, investigational, or cosmetic purposes, if the denial is issued by a licensed physician who has not wilfully and knowingly, or with reckless disregard or gross negligence, or with the intent solely to delay payment of the claim in bad faith, ignored nationally recognized protocols or standards of medical care in rendering such a decision. A good faith request for records or additional information is not a delay for purposes of this section. A person providing medical necessity review services for a health insurer or health maintenance organization who is subject to an inquiry regarding whether the person has been practicing medicine pursuant to this section has the right to remove the case to the Administrative Law Court upon petition of the person. If the Administrative Law Court determines that a complaint is filed, pursuant to this section, to harass or intimidate a person or is otherwise not based on a good faith belief that the provisions of this section are being violated, the defendant is entitled to an award of attorney's fees and the costs of defending the case.
S.C. Code Ann. § 38-77-122 — SC Code / Title 38 / Chapter 77 / Article 3 / Section 38-77-122
SECTION 38-77-122. Insurers and agents prohibited from refusing to issue automobile insurance policies due to certain factors; prohibited factors for premium rates.
Status: in_force

(A) No insurer or agent shall refuse to issue an automobile insurance policy as defined in Section 38-77-30 because of any one or more of the following factors: the age, sex, location of residence in this State, race, color, creed, national origin, ancestry, marital status, or income level. No insurer or agent shall refuse to issue an automobile insurance policy as defined in Section 38-77-30 solely because of any one of the following factors: the previous refusal of automobile insurance by another insurer, prior purchase of insurance through the Associated Auto Insurers Plan, or lawful occupation, including the military service, of the person seeking the coverage. Nothing in this section prohibits any insurer from limiting the issuance of motor vehicle insurance policies only to persons engaging in or who have engaged in a particular profession or occupation, or who are members of a particular religious sect. Nothing in this section prohibits any insurer from setting rates in accordance with relevant actuarial data. (B) In determining the premium rates to be charged for an automobile insurance policy as defined in Section 38-77-30, it is unlawful to consider race, color, creed, religion, national origin, ancestry, location of residence in this State, economic status, or income level. Nor may an insurer, agent, or broker refuse to write or renew an automobile insurance policy as defined in Section 38-77-30 based upon age, sex, race, color, creed, religion, national origin, ancestry, location of residence in this State, economic status, or income level. However, nothing in this subsection may preclude the use of a territorial plan approved by the director. Any insurer or agent who violates this section shall be subject to the penalties as provided in Section 38-2-10. If the director of the Department of Insurance or his designee finds that an insurer or agent is participating in a pattern of unfair discrimination, the director or his designee may impose a fine of up to two hundred thousand dollars. Provided, however, if the unfair discrimination is required by an insurer, only the insurer is subject to the penalty as long as the agent of the insurer has reported the pattern of unfair discrimination to the department. The director or his designee at any time may examine an insurer or agent to enforce this section. The expense of examination must be paid by the insurer, agent, or broker.
S.C. Code Ann. § 38-71-2050 — SC Code / Title 38 / Chapter 71 / Article 19 / Section 38-71-2050
SECTION 38-71-2050. Health carrier to inform covered persons of rights related to external review.
Status: in_force

(A) Each health carrier shall include a description of the external review procedures in either the policy, certificate, membership booklet, outline of coverage, or other evidence of coverage it provides to covered persons. (B) The description required under subsection (A) shall include a statement of the right of the covered person to contact the director or his designee for assistance. The statement shall include the telephone number and address of the director or his designee. (C) In addition to subsection (B), the statement shall inform the covered person that, when filing a request for an external review, the covered person will be required to authorize the release of any medical records of the covered person that may be required to be reviewed for the purpose of reaching a decision on the external review.
S.C. Code Ann. § 38-73-20 — SC Code / Title 38 / Chapter 73 / Article 1 / Section 38-73-20
SECTION 38-73-20. Scope of chapter.
Status: in_force

(a) This chapter applies to (1) fire and allied lines and inland marine insurance, as defined in Section 38-73-310 and (2) casualty insurance, including fidelity, surety, and guaranty bonds, and to all other forms of automobile insurance, in either case on risks located or operations in this State. However, Article 3 and Article 5 of this chapter apply only to the respective classes of insurance as stated in Sections 38-73-310 and 38-73-410. (b) This chapter does not apply to: (1) reinsurance, other than joint reinsurance to the extent stated in Article 15 of this chapter; (2) insurance of vessels or craft or their cargoes, marine builders' risks, marine protection and indemnity, or other risks commonly insured under marine, as distinguished from inland marine, insurance policies; (3) accident and health insurance; (4) insurance against loss of or damage to aircraft or against liability arising out of the ownership, maintenance, or use of aircraft; or (5) life insurance.
S.C. Code Ann. § 38-43-240 — SC Code / Title 38 / Chapter 43 / Article 1 / Section 38-43-240
SECTION 38-43-240. Other offenses by producers.
Status: in_force

(A) It is unlawful for a producer, collector, or other person to: (1) undertake or pretend to represent an insurer licensed to do business in this State, or to collect or do business for the insurer without the authority of the insurer; (2) secure cash advances by false statements; or (3) fail to turn over or satisfactorily account for all collections of the insurer when required. (B) A person who violates the provisions of this section is guilty of a misdemeanor and, upon conviction, must be fined in the discretion of the court or imprisoned not more than two years.
S.C. Code Ann. § 38-43-410 — SC Code / Title 38 / Chapter 43 / Article 3 / Section 38-43-410
SECTION 38-43-410. Service charge; unpaid balance and service charge are lien on unearned premiums.
Status: in_force

When, pursuant to the written or oral request of an insured or applicant for insurance, an insurance producer or agency advances all or any part of the premium for an insurance policy to the insurer in behalf of the insured or applicant for insurance, the producer or agency is entitled to recover from the insured or applicant for insurance, in addition to the amount advanced, a service charge equal to the greater of one and one-half percent or one dollar and fifty cents a month on any unpaid balance. The producer or agency has a lien equal to the amount of the unpaid balance and service charges upon any unearned premium on the policy held by the insurer and subject to refund by the insurer under the policy.
S.C. Code Ann. § 38-53-140 — SC Code / Title 38 / Chapter 53 / Section 38-53-140
SECTION 38-53-140. Expiration of license; renewal license.
Status: in_force

All licenses issued pursuant to the provisions of this chapter expire annually on June thirtieth unless revoked or suspended prior to that time by the director or his designee or upon notice served upon the director or his designee that the employer of any runner has canceled the licensee's authority to act for the employer. A renewal license must be issued by the director or his designee to a licensee who has met the continuing education requirements in Section 38-53-85(A) upon the payment of a renewal fee of two hundred dollars for runners and four hundred dollars for professional bondsmen, but the licensees are required in all other respects to comply with the provisions of this chapter. After the receipt of the licensee's application for renewal, the current license continues in effect until the renewal license is issued or denied for cause.
S.C. Code Ann. § 38-87-100 — SC Code / Title 38 / Chapter 87 / Section 38-87-100
SECTION 38-87-100. Premium taxes.
Status: in_force

Premium taxes and other taxes on premiums paid for coverage of risks resident or located in this State by a purchasing group or any members of the purchasing group are imposed and must be paid as follows: (1) If the insurer is an admitted insurer, taxes are imposed on the insurer at the same rate and in the same manner and subject to the same procedures, interest, and penalties as that applicable to premium taxes and other taxes imposed on other admitted liability insurers relative to coverage of risks resident or located in this State. (2) If the insurer is an approved nonadmitted surplus lines insurer, taxes are imposed on the licensed broker who effected coverage on risks resident or located in this State at the same rate and in the same manner and subject to the same procedures, interest, and penalties as that applicable to taxes imposed on other licensed brokers effecting coverage with approved nonadmitted surplus lines insurers on risks resident or located in this State.
S.C. Code Ann. § 38-73-1310 — SC Code / Title 38 / Chapter 73 / Article 11 / Section 38-73-1310
SECTION 38-73-1310. Application for modification by casualty or automobile insurer.
Status: in_force

A member of or subscriber to a rating organization to whom the provisions of Article 5 of this chapter are applicable may make written application to the department for permission to file a uniform percentage decrease or increase to be applied to the premiums produced by the rating system filed for a kind of insurance or for a class of insurance which is found by the director or his designee to be a proper rating unit for the application of such uniform percentage decrease or increase or for a subdivision of a kind of insurance. The application must specify the basis for the modification and must be accompanied by the data upon which the applicant relies. A copy of the application and data must be sent simultaneously to the rating organization.
S.C. Code Ann. § 38-90-460 — SC Code / Title 38 / Chapter 90 / Article 3 / Section 38-90-460
SECTION 38-90-460. Capitalization.
Status: in_force

(A) A SPFC initially shall possess and after that maintain minimum capitalization of not less than two hundred and fifty thousand dollars. All of the minimum initial capitalization must be in cash. All other funds of the SPFC in excess of its minimum initial capitalization must be in the form of cash, cash equivalent, or securities invested as provided in Section 38-90-530 and approved by the director. (B) Additional capitalization for the SPFC must be determined, if so required, by the director after giving due consideration to the SPFC's business plan, feasibility study, pro formas, and the nature of the risks being insured or reinsured, which may be prescribed in formulas approved by the director.
S.C. Code Ann. § 38-74-80 — SC Code / Title 38 / Chapter 74 / Section 38-74-80
SECTION 38-74-80. Tax exemption and credits.
Status: in_force

The pool established pursuant to this chapter is exempt from all taxes and assessments. Any member subject to tax liability imposed by any state statute may take credit for any assessment paid to the pool in the previous year against its premium or income tax payable. The tax credit is in addition to any other tax credits to which the member may be entitled pursuant to South Carolina law, but the credit may not reduce the member's tax liability below zero. Any unused credit may be carried forward three years. The credits are subject to the provisions of Section 38-7-120(c). The members are responsible for any loss of the operation of the pool, including any loss in excess of assessments paid to the pool. This State is not responsible for any loss of the operation of the pool, and no state funds may be used to defray any loss. If the total assessment for all members of the pool exceeds ten million dollars in any one year, the credit for any member shall be limited to the amount determined by multiplying the member's assessment by a fraction, the numerator of which equals ten million dollars and the denominator of which equals the total assessment in the year for all members of the pool.
S.C. Code Ann. § 38-27-590 — SC Code / Title 38 / Chapter 27 / Article 5 / Section 38-27-590
SECTION 38-27-590. Claims of surety.
Status: in_force

Whenever a creditor whose claim against an insurer is secured, in whole or in part, by the undertaking of another person fails to prove and file that claim, the other person may do so in the creditor's name and is subrogated to the rights of the creditor, whether the claim has been filed by the creditor or by the other person in the creditor's name, to the extent that he discharges the undertaking. In the absence of an agreement with the creditor to the contrary, however, the other person is not entitled to any distribution until the amount paid to the creditor on the undertaking, plus the distributions paid on the claim from the insurer's estate to the creditor, equals the amount of the entire claim of the creditor. Any excess received by the creditor must be held by him in trust for the other person. The term "other person" as used in this section is not intended to apply to a guaranty association or foreign guaranty association.
S.C. Code Ann. § 38-89-30 — SC Code / Title 38 / Chapter 89 / Section 38-89-30
SECTION 38-89-30. General powers.
Status: in_force

The association has the power on behalf of its members to: (1) issue, or cause to be issued, policies of insurance to applicants including incidental coverages such as, but not limited to, premises or operations liability coverage on the premises where services are rendered, all subject to limits of liability as specified in the plan of operation but not to exceed five million dollars for all claimants under one policy in any one year; (2) underwrite day care liability insurance and to adjust and pay losses with respect thereto or to appoint service companies to perform those functions; (3) cede and assume reinsurance.
S.C. Code Ann. § 38-15-20 — SC Code / Title 38 / Chapter 15 / Section 38-15-20
SECTION 38-15-20. Withdrawal of special authority for writing certain bonds.
Status: in_force

The director or his designee and the Attorney General shall remove from the list of surety insurers whose bonds are acceptable under Section 38-15-10 the names of insurers who in their judgment fail or refuse to carry out promptly their obligations in good faith.
S.C. Code Ann. § 38-71-70 — SC Code / Title 38 / Chapter 71 / Article 1 / Section 38-71-70
SECTION 38-71-70. Certain policies may conform to laws of other states.
Status: in_force

Any foreign insurer authorized to do business in this State may, with the approval of the director or his designee, insert in any policy covered by this chapter so issued or delivered any provision required by the laws of any state or country in which the insurer is licensed, if the provision is not substantially in conflict with any law of this State. A domestic insurer may insert in any policy covered by this chapter issued for delivery in another state or foreign country and governed by the laws thereof any provision required by the laws of the other state or country applicable to the policy.
S.C. Code Ann. § 38-73-330 — SC Code / Title 38 / Chapter 73 / Article 3 / Section 38-73-330
SECTION 38-73-330. Making of rates.
Status: in_force

Rates must be made in accordance with the following provisions: (1) Manual, minimum, and class rates, rating schedules, or rating plans must be made and adopted, except in the case of specific inland marine rates on risks specially rated. (2) Rates may not be excessive, inadequate, or unfairly discriminatory. Due consideration must be given for installation and maintenance of nationally recognized hazard reducing systems. (3) Due consideration must be given to past and prospective loss experience within and outside this State, to the conflagration and catastrophe hazards, to a reasonable margin for underwriting profit and contingencies, to dividends, savings, or unabsorbed premium deposits allowed or returned by insurers to their policyholders, members, or subscribers, to past and prospective expenses, both countrywide and those specially applicable to this State, and to all other relevant factors within and outside this State, and in the case of fire insurance rates consideration must be given to the experience of the fire insurance business during a period of not less than the most recent five-year period for which the experience is available. Except to the extent necessary to meet the provisions of item (2) of this section, uniformity among insurers in any matters within the scope of this section is neither required nor prohibited. Rates made in accordance with this section may be used subject to the provisions of this chapter.
S.C. Code Ann. § 38-3-240 — SC Code / Title 38 / Chapter 3 / Article 1 / Section 38-3-240
SECTION 38-3-240. Conversion of licenses to biennial fee collection period; particular fee periods.
Status: in_force

(A) Beginning July 1, 1992, the department shall begin converting certain licenses required by statute or regulation to a biennial license fee collection period. These license fees must be collected as follows: (1) All insurers transacting business in this State including reciprocals, fraternal benefit associations, mutual insurers doing a property business only in no more than three counties, mutual insurers doing a property business only in a single county, and approved reinsurers shall pay a license fee for two years to the department by March 1, 1994, and every two years after that time by March first every even-numbered year. (2) An agency transacting the business of insurance in this State shall pay a license fee for two years to the department within thirty days after January 1, 1994, and every two years after that time within thirty days after January first every even-numbered year. (3) A broker transacting the business of insurance in this State shall pay a license fee for two years to the department within thirty days after May 1, 1994, and every two years after that time within thirty days after May first every even-numbered year. (4) An adjuster transacting business in this State shall pay a license fee for two years to the department within thirty days after August 1, 1993, and every two years after that time within thirty days after August first every odd-numbered year. (5) A motor vehicle damage appraiser transacting business in this State shall pay a license fee for two years to the department within thirty days after October 1, 1993, and every two years after that time within thirty days after October first every odd-numbered year. (6) An agent transacting the business of insurance in this State shall pay a license fee for two years to the department within thirty days after September 1, 1992, and every two years after that time within thirty days after September first every even-numbered year. (B) The fees described in this section must be earned fully when paid and are not refundable, proratable, or transferable. They must be collected in the amount and manner prescribed by statute or regulation before July 1, 1992, until the dates prescribed in subsection (A) when collections must be made pursuant to that subsection.
S.C. Code Ann. § 38-79-290 — SC Code / Title 38 / Chapter 79 / Article 3 / Section 38-79-290
SECTION 38-79-290. Examination of association; audit in lieu of examination.
Status: in_force

The director or his designee shall conduct an examination into the financial condition and affairs of the association at least annually and shall file a report thereon with the department, the Governor, and the General Assembly. The expenses of the examination must be paid by the association. The director or his designee may accept an audit of the association performed by a qualified public accounting firm in lieu of conducting his own examination. Effect of Amendment 2019 Act No. 67, SECTION 1, in the first sentence, substituted "shall conduct" for "shall make", and added the third sentence.
S.C. Code Ann. § 38-57-180 — SC Code / Title 38 / Chapter 57 / Section 38-57-180
SECTION 38-57-180. Insurance cost must be specified in sales and loans.
Status: in_force

Where the premium or charge for insurance is included in the overall purchase price or financing of the purchase of merchandise or property, the vendor or lender shall separately state and identify the amount charged and to be paid for the insurance and the classifications if any, upon which based. The inclusion or exclusion of the cost of insurance in the purchase price or financing may not increase, reduce, or otherwise affect any other factor involved in the cost of the merchandise or property or financing as to the purchaser or borrower.
S.C. Code Ann. § 38-55-530 — SC Code / Title 38 / Chapter 55 / Article 5 / Section 38-55-530
SECTION 38-55-530. Definitions.
Status: in_force

As used in this article: (A) "Authorized agency" means any duly constituted criminal investigative department or agency of the United States or of this State; the Department of Insurance; the Department of Revenue; the Department of Public Safety; the Department of Motor Vehicles; the Workers' Compensation Commission; the State Accident Fund; the Second Injury Fund; the Department of Employment and Workforce; the Department of Consumer Affairs; the Human Affairs Commission; the Department of Health and Environmental Control; the Department of Social Services; the Department of Health and Human Services; the Department of Labor, Licensing and Regulation; all other state boards, commissions, and agencies; the Office of the Attorney General of South Carolina; or the prosecuting attorney of any judicial circuit, county, municipality, or political subdivision of this State or of the United States, and their respective employees or personnel acting in their official capacity. (B) "Insurer" shall have the meaning set forth in Section 38-1-20(25) and includes any authorized insurer, self-insurer, reinsurer, broker, producer, or any agent thereof. (C) "Person" means any natural person, company, corporation, unincorporated association, partnership, professional corporation, or other legal entity and includes any applicant, policyholder, claimant, medical providers, vocational rehabilitation provider, attorney, agent, insurer, fund, or advisory organization. (D) "False statement or misrepresentation" means a statement or representation made by a person that is false, material, made with the person's knowledge of the falsity of the statement and made with the intent of obtaining or causing another to obtain or attempting to obtain or causing another to obtain an undeserved economic advantage or benefit or made with the intent to deny or cause another to deny any benefit or payment in connection with an insurance transaction, and such shall constitute fraud. "False statement or misrepresentation" specifically includes, but is not limited to, an intentional: (1) false report of business activities; (2) miscount or misclassification by an employer of its employees; (3) failure to timely reduce reserves; (4) failure to account for Second Injury Fund reimbursements or subrogation reimbursements; or (5) failure to provide verifiable information to public or private rating bureaus and the Department of Insurance. An undeserved economic benefit or advantage includes, but is not limited to, a favorable insurance premium, payment schedule, insurance award, or insurance settlement. (E) "Immune" means that neither a civil action nor a criminal prosecution may arise from any action taken pursuant to this article unless actual malice on the part of the reporting person or gross negligence or reckless disregard for the rights of the reported person is present.
S.C. Code Ann. § 38-43-650 — SC Code / Title 38 / Chapter 43 / Article 5 / Section 38-43-650
SECTION 38-43-650. Licensee to provide written document.
Status: in_force

(A) Prior to issuing a policy under the provisions of this chapter, a licensee shall provide a written document that: (1) summarizes clearly and correctly the material terms of coverage offered to an occupant, including the identity of the insurer; (2) discloses that the coverage offered by the self-service storage facility may provide a duplication of coverage already provided by a homeowners' insurance policy or other source of coverage in effect for the occupant; (3) describes the process for filing a claim if the occupant elects to purchase coverage and in the event of a claim; and (4) states that the charges for coverage are itemized and ancillary to the rental agreement. (B) If the rental agreement requires the occupant to provide insurance of the type described in Section 38-43-640(B), this requirement may be satisfied if the occupant: (1) purchases this coverage from a licensee; or (2) provides evidence of this coverage from another source.
S.C. Code Ann. § 38-43-450 — SC Code / Title 38 / Chapter 43 / Article 3 / Section 38-43-450
SECTION 38-43-450. Excess of return premium over unpaid balance and charges held in trust.
Status: in_force

Any excess of return premium paid by the insurer to a producer, agency, or producer of record in discharge of the lien provided by this article over the amount of unpaid balance and accrued service charges must be held by the producer, agency, or producer of record in his or its fiduciary capacity and the excess must be paid to the insured within a reasonable time and in no event later than thirty days after receipt by the producer, agency, or producer of record of the return premium refunded by the insurer.
S.C. Code Ann. § 38-73-1250 — SC Code / Title 38 / Chapter 73 / Article 11 / Section 38-73-1250
SECTION 38-73-1250. Changes within rating organization.
Status: in_force

Every rating organization shall notify the director or his designee promptly of every change in: (1) its constitution, its articles of agreement or association or certificate of incorporation, or its bylaws, rules, and regulations governing the conduct of its business; (2) its lists of members and subscribers; (3) the name and address of the resident of this State designated by it upon whom notices or orders of the director or his designee or process affecting the rating organization may be served.
S.C. Code Ann. § 38-65-50 — SC Code / Title 38 / Chapter 65 / Article 1 / Section 38-65-50
SECTION 38-65-50. Restrictions on mass-marketed life insurance.
Status: in_force

No mass-marketed life insurance may be effected on a person in this State if the charges to the individual insureds are unreasonable in relation to the benefits provided. "Mass-marketed life insurance" for purposes of this chapter means coverage under any group policy of life insurance which is offered by means of direct response solicitation whether through a sponsoring organization or the mails or other media, except that it does not include coverage offered to an employee or union member through his employer or union, to a member of a professional association, to a member of a national association of retired or aged persons through the association, or to a member of a national association of war veterans either chartered by Congress or composed of veterans of a particular ethnic, racial, or religious background through the association. This coverage offered through a trust formed by one or more employers, labor unions, or both, or by a professional association or association of retired or aged persons or war veterans to provide insurance coverage for employees, union members, and their dependents or for association members and their dependents is considered to be offered through the employer, union, or association, respectively. "Direct response solicitation" means any offer by an insurer to persons in this State to effect life insurance coverage which enables the individual to apply or enroll for the insurance on the basis of that offer.
S.C. Code Ann. § 38-26-70 — SC Code / Title 38 / Chapter 26 / Section 38-26-70
SECTION 38-26-70. Contest of supervisor's action; right of review.
Status: in_force

During supervision the insurer may contest an action taken or proposed to be taken by the supervisor specifying the manner in which the action being complained of would not result in improving the condition of the insurer. Denial of the insurer's request upon reconsideration entitles the insurer to review under related regulation and the Administrative Procedures Act.
S.C. Code Ann. § 38-63-60 — SC Code / Title 38 / Chapter 63 / Article 1 / Section 38-63-60
SECTION 38-63-60. Industrial life insurance.
Status: in_force

Industrial life insurance is that form of life insurance provided by an individual contract under which premiums are payable weekly or monthly and having the words "INDUSTRIAL POLICY" printed in bold print upon the face of the policy as part of the title. No policy of life insurance delivered or issued for delivery in South Carolina may use industrial mortality tables unless the policy is an industrial life insurance policy.
S.C. Code Ann. § 38-25-540 — SC Code / Title 38 / Chapter 25 / Article 7 / Section 38-25-540
SECTION 38-25-540. Actions by unauthorized insurers.
Status: in_force

An unauthorized insurer is not permitted to maintain any action, suit, or proceeding in this State to enforce a right, claim, or demand arising out of the transaction of insurance business until the insurer has obtained a certificate of authority to transact insurance business in this State. The unauthorized insurer may maintain an action, suit, or proceeding in connection with its investments in this State or in connection with a contract issued by it at a time when it was authorized to do business in the state where the contract was issued. This section does not prevent the insurer from defending an action in the courts of this State. The failure of an insurer transacting insurance business in this State to obtain a certificate of authority does not impair the validity of any act or contract of the insurer. This section does not apply to an eligible surplus lines insurer which maintains the deposit required by Section 38-9-80 or which has on file with the department a surety bond issued by an admitted insurer in an amount determined by the director or his designee to be sufficient to meet the security requirements of Section 38-9-80. Before an eligible surplus lines insurer files or causes to be filed any action, suit, or proceeding in this State to enforce a right, claim, or demand arising out of the transaction of insurance, it shall produce evidence that the security deposit is presently on file or that the required surety bond is then in force and effect.
S.C. Code Ann. § 38-69-290 — SC Code / Title 38 / Chapter 69 / Article 5 / Section 38-69-290
SECTION 38-69-290. Statements required in certain contracts.
Status: in_force

Any contract which does not provide cash surrender benefits or does not provide death benefits at least equal to the minimum nonforfeiture amount prior to the commencement of any annuity payments shall include a statement in a prominent place in the contract that those benefits are not provided.
S.C. Code Ann. § 38-55-580 — SC Code / Title 38 / Chapter 55 / Article 5 / Section 38-55-580
SECTION 38-55-580. Immunity from liability arising out of providing information concerning false statements or misrepresentations to authorized agency; malice or bad faith.
Status: in_force

(A) A person, insurer, or authorized agency, when acting without malice or in good faith, is immune from any liability arising out of filing reports, cooperating with investigations by any authorized agency, or furnishing other information, whether written or oral, and whether in response to a request by an authorized agency or upon their own initiative, concerning any suspected, anticipated, or completed false statement or misrepresentation when such reports or information are provided to or received by any authorized agency. (B) Nothing herein abrogates or modifies in any way common law or statutory privilege or immunity heretofore enjoyed by any person, insurer, or authorized agency. (C) Nothing herein limits the liability of any person or insurer who, with malice or in bad faith, makes a report of suspected fraud under the provisions of this article. (D) In addition to the immunity granted in this section, persons identified as designated employees whose responsibilities include the investigation and disposition of claims relating to suspected fraudulent insurance acts may share information relating to persons suspected of committing fraudulent insurance acts with other designated employees employed by the same or other insurers whose responsibilities include the investigation and disposition of claims relating to fraudulent insurance acts, provided the department has been given written notice of the names and job titles of these designated employees prior to any designated employee sharing information. Unless the designated employees of the insurer act in bad faith or in reckless disregard for the rights of any insured, neither the insurer nor its designated employees are civilly liable for libel, slander, or any other relevant tort, and a civil action does not arise against the insurer or its designated employees: (1) for any information related to suspected fraudulent insurance acts provided to an insurer; or (2) for information related to suspected fraudulent insurance acts provided to the National Insurance Crime Bureau or the National Association of Insurance Commissioners. Provided, however, that the qualified immunity against civil liability conferred on any insurer or its designated employees shall be forfeited with respect to the exchange or publication of any defamatory information with third persons not expressly authorized by subsection (D) to share in such information.
S.C. Code Ann. § 38-13-810 — SC Code / Title 38 / Chapter 13 / Article 8 / Section 38-13-810
SECTION 38-13-810. Purpose; application; findings.
Status: in_force

(A) The purpose of this article is to provide the requirements for maintaining a risk management framework and completing an Own Risk and Solvency Assessment (ORSA) and provide guidance and instructions for filing an ORSA Summary Report with the insurance director of this State. (B) The requirements of this article apply to all insurers domiciled in this State unless exempt pursuant to Section 38-13-860. (C) The General Assembly finds and declares that an ORSA Summary Report contains confidential and sensitive information related to an insurer or insurance group's identification of risks material and relevant to the insurer or insurance group filing the report. This information includes proprietary and trade secret information that has the potential for harm and competitive disadvantage to the insurer or insurance group if the information is made public. It is the intent of the General Assembly that: (1) an ORSA Summary Report, including all documents, materials, or other information related to its preparation, is a confidential document filed with the director and only may be shared as stated in this article; (2) an ORSA Summary Report will be used to assist the director in the performance of his duties; and (3) in no event may an ORSA Summary Report and its accompanying documents be subject to public disclosure. (D) Nothing in this section prohibits an order from a court of competent jurisdiction requiring an insurance company that is subject to this article to produce an ORSA Summary Report. Code Commissioner's Note At the direction of the Code Commissioner in 2017, in (A), "this article" was substituted for "this act" to correct a clerical error.
S.C. Code Ann. § 38-7-170 — SC Code / Title 38 / Chapter 7 / Section 38-7-170
SECTION 38-7-170. Disposition of fees, taxes, penalties, and interest.
Status: in_force

All fees, taxes, penalties, and interest collected by the director or his designee under this title, unless specifically provided otherwise, must be deposited by the director or his designee in the general fund of the State.
S.C. Code Ann. § 38-73-1070 — SC Code / Title 38 / Chapter 73 / Article 9 / Section 38-73-1070
SECTION 38-73-1070. Suspension or modification of filing requirement.
Status: in_force

Under regulations the department promulgates, the director or his designee may, by written order, suspend or modify the requirements of filing as to any kind of insurance, subdivision, or combination thereof or as to classes of risks, the rates for which cannot practicably be filed before they are used. These orders and regulations must be made known to insurers and rating organizations affected thereby. The director or his designee may make any examination he considers advisable to ascertain whether any rates affected by the order meet the standards set forth in Section 38-73-330(2) or Section 38-73-430(4), as the case may be.
S.C. Code Ann. § 38-103-70 — SC Code / Title 38 / Chapter 103 / Section 38-103-70
SECTION 38-103-70. Amount of benefits; offsets; payment of benefits.
Status: in_force

(A) The policy of insurance shall set forth: (1) the amount of benefits that will be paid for covered family leave reasons; (2) the definition of the wages or other income upon which the amount of family leave benefits will be based; and (3) how wages or other income will be calculated. (B) If the family leave benefits are subject to offsets for wages or other income received or for which the insured may be eligible, the policy shall set forth: (1) all wages or other income that may be set off; and (2) the circumstances under which it may be offset. (C) Family leave benefits provided under a policy of insurance must be paid periodically and promptly except as to a contested period of family leave and subject to any of the provisions of Section 38-103-80.
S.C. Code Ann. § 38-77-161 — SC Code / Title 38 / Chapter 77 / Article 3 / Section 38-77-161
SECTION 38-77-161. Uninsured or underinsured coverage not required in excess or umbrella policy.
Status: in_force

No uninsured or underinsured motorist coverage need be provided in this State by any excess or umbrella policy of insurance.
S.C. Code Ann. § 38-27-475 — SC Code / Title 38 / Chapter 27 / Article 5 / Section 38-27-475
SECTION 38-27-475. Federal home loan banks and insurer-members, pledge collateral, delinquency proceedings.
Status: in_force

(A) Notwithstanding any other provision of this chapter to the contrary, the receiver for an insurer-member shall not void any transfer of, or any obligation to transfer, money or any other property arising under or in connection with any federal home loan bank security agreement, or any pledge, security, collateral, or guarantee agreement, or any other similar arrangement or credit enhancement relating to a federal home loan bank security agreement made in the ordinary course of business and in compliance with the applicable federal home loan bank agreement. The receiver also may not void a redemption or repurchase of any stock or equity securities made by the federal home loan bank within four months of the commencement of the delinquency proceedings or which received prior approval of the receiver. However, a transfer is voidable if the transfer is made with the actual intent to hinder, delay, or defraud the insurer-member, existing creditors, or future creditors. (B) If a federal home loan bank exercises its rights regarding collateral pledged by an insurer-member who is subject to a delinquency proceeding, the federal home loan bank shall repurchase any outstanding capital stock that is in excess of that amount of federal home loan bank stock that the insurer-member is required to hold as a minimum investment, to the extent the federal home loan bank in good faith determines the repurchase to be permissible under applicable laws, regulations, regulatory obligations, and the federal home loan bank's capital plan, and consistent with the federal home loan bank's current capital stock practices applicable to its entire membership. (C) Following the appointment of a receiver for an insurer-member, the federal home loan bank shall, within ten business days after a request from the receiver is made, provide a process and establish timelines for the: (1) release of collateral that exceeds the lendable collateral value, as determined pursuant to the advance agreement with the federal home loan bank, required to support secured obligations remaining after any repayment of advances; (2) release of any of the insurer-member's collateral remaining in the federal home loan bank's possession following full repayment of all outstanding secured obligations of the insurer-member in full; (3) payment of fees owed by the insurer-member and the operation of deposits and other accounts of the insurer-member with the federal home loan bank; and (4) possible redemption or repurchase of federal home loan bank stock or excess stock of any class that an insurer-member is required to own. (D) Upon request from the receiver for an insurer-member, the federal home loan bank shall provide any available options that an insurer-member may exercise to renew or restructure an advance to defer associated prepayment fees, subject to: (1) market conditions; (2) the terms of the advances outstanding to the insurer-member; (3) the applicable policies of the federal home loan bank; and (4) the compliance of the federal home loan bank with the Federal Home Loan Bank Act, 12 U.S.C. Section 1421, et seq., and corresponding regulations. (E) Nothing in this section affects the rights of a receiver regarding advances to an insurer-member in delinquency proceedings pursuant to 12 C.F.R. Section 1266.4. (F) The provisions of this section apply notwithstanding another provision of this chapter.
S.C. Code Ann. § 38-38-740 — SC Code / Title 38 / Chapter 38 / Article 13 / Section 38-38-740
SECTION 38-38-740. Review of findings of director.
Status: in_force

All decisions and findings of the director or his designee made under the provisions of this chapter are subject to review as set forth in Chapter 3 of this title.
S.C. Code Ann. § 38-101-60 — SC Code / Title 38 / Chapter 101 / Section 38-101-60
SECTION 38-101-60. Required filings with director; review of filings; filing on behalf of insurers.
Status: in_force

(A) Every admitted insurer writing personal lines or commercial lines private flood insurance pursuant to this chapter shall file with the director all forms and all changes and amendments made by it for use in this State no later than ninety days after becoming effective. This form filing is considered a "use and file" filing. (B) The director may at any time review a form, the pertinent records of the insurer, and market conditions. The director may at any time disapprove a form and shall notify the insurer. In reviewing the forms filed, the department may require the insurer to provide, at the insurer's expense, all information necessary to evaluate the filing. Upon notification, the insurer shall, within sixty days, file with the department all information which, in the belief of the insurer, establishes that the form is in compliance with this chapter and other applicable law. The insurer may appeal the final determination of the director or his designee to the South Carolina Administrative Law Court. The insurer shall carry the burden of proof by a preponderance of the evidence to show that the form complies with applicable South Carolina law. (C) All form filings are confidential until final disposition by the director. Final form filings are subject to public inspection in accordance with the provisions of the South Carolina Freedom of Information Act. (D) An advisory or rating organization may file forms on the behalf of insurers. These filings are subject to the "use and file" provisions of this section. If the director finds on a preliminary basis that a form does not comply with this chapter or other applicable law, the director shall disapprove the form and shall notify the rating or advisory organization. Upon notification, the rating or advisory organization shall, within sixty days, file with the department all information which, in the belief of the advisory or rating organization, establishes the form complies with this chapter and other applicable law. The advisory or rating organization may appeal the final determination of the director or his designee to the South Carolina Administrative Law Court. The advisory or rating organization shall carry the burden of proof by a preponderance of the evidence to show that the form complies with applicable South Carolina law. Editor's Note 2020 Act No. 166, SECTION 3, provides as follows: "SECTION 3. This act becomes effective sixty days following approval by the Governor. Insurers that are writing private flood insurance at the time of enactment have an additional one hundred twenty days to come into compliance with the requirements of this act."
S.C. Code Ann. § 38-13-180 — SC Code / Title 38 / Chapter 13 / Article 1 / Section 38-13-180
SECTION 38-13-180. Insurance reserve fund defined.
Status: in_force

For purposes of Sections 38-13-190 and 38-13-200, "insurance reserve fund" or "funds" means the insurance reserve funds administered by the State Fiscal Accountability Authority to provide liability and property insurance, as authorized under Section 1-11-140, Chapter 7 of Title 10, and the regulations prescribed by the State Fiscal Accountability Authority. Code Commissioner's Note At the direction of the Code Commissioner, references in this section to the offices of the former State Budget and Control Board, Office of the Governor, or other agencies, were changed to reflect the transfer of them to the Department of Administration or other entities, pursuant to the directive of the South Carolina Restructuring Act, 2014 Act No. 121, SECTION 5(D)(1), effective July 1, 2015.
S.C. Code Ann. § 38-41-35 — SC Code / Title 38 / Chapter 41 / Section 38-41-35
SECTION 38-41-35. Hold harmless agreements.
Status: in_force

Each participating employer, as a condition of participation in a multiple employer self-insured health plan, shall execute an agreement by which the employer agrees to personally pay all claims for benefits covered under the multiple employer self-insured health plan which are incurred by his or its covered employees and their covered dependents, but which the plan has failed to pay. Such agreements shall be made on forms prescribed by the director and shall extend to all unpaid claims for benefits incurred by the employer's employees and their dependents during the time such employees and dependents were covered under the multiple employer self-insured health plan. Neither failure of a participating employer to execute an agreement, nor failure of the plan to require such execution, shall excuse the employer from liability for unpaid claims incurred by covered employees and dependents. An employer shall be deemed to have notice of the requirements of this section, and upon joining a multiple employer self-insured health plan, the employer shall be deemed to have agreed to liability for unpaid claims of his covered employees and their dependents in the same manner as if an agreement had been executed. The multiple employer self-insured health plan shall provide each participating employer annual notice of the participating employer's responsibilities. This notice shall be in a form approved by the director or his designee and shall state that the participating employer is responsible for all claims incurred by the participating employer's covered employees and their covered dependents that the multiple employer self-insured health plan has failed to pay. The multiple employer self-insured health plan must obtain written certification from each participating employer annually that the participating employer understands that it is liable for covered claims which the multiple employer self-insured health plan fails to pay. The multiple employer self-insured health plan shall file an affidavit signed by the multiple employer self-insured health plan's chief executive officer that it has obtained each participating employer's certification. The multiple employer self-insured health plan shall maintain copies of each participating employer's annual certification for the duration of the multiple employer self-insured health plan. Failure of the multiple employer self-insured health plan to comply with any of its obligations under this section shall not be a defense to, or in any way diminish, an employer's obligation to personally pay all claims for benefits covered under the multiple employer self-insured health plan which are incurred by his or its covered employees and their covered dependents, but which the plan has failed to pay.
S.C. Code Ann. § 38-41-10 — SC Code / Title 38 / Chapter 41 / Section 38-41-10
SECTION 38-41-10. Multiple employer self-insured health plan defined.
Status: in_force

As used in this chapter, "multiple employer self-insured health plan" or "Multiple Employer Welfare Arrangement (MEWA)" means a plan or arrangement established or maintained to offer or provide health, dental, or short-term disability benefits to employees of two or more employers but which is not fully insured. A plan or arrangement is considered "fully insured" only if all benefits payable are guaranteed under a contract or policy of insurance issued by an insurer authorized to transact business in this State.
S.C. Code Ann. § 38-77-113 — SC Code / Title 38 / Chapter 77 / Article 3 / Section 38-77-113
SECTION 38-77-113. Conditions for waiver of license reinstatement fee.
Status: in_force

If a driver's license is suspended or revoked because the licensee is determined by the Department of Motor Vehicles to have no motor vehicle liability insurance, the Director of the Department of Motor Vehicles or his designee shall waive the reinstatement fee imposed pursuant to Section 56-1-390 if the licensee had motor vehicle liability coverage when his license was suspended or revoked and shall document the reasons for waiving the fee in the records of the Department of Motor Vehicles.
S.C. Code Ann. § 38-87-130 — SC Code / Title 38 / Chapter 87 / Section 38-87-130
SECTION 38-87-130. U.S. District Court injunctions enforceable in state courts.
Status: in_force

An order issued by any district court of the United States enjoining a risk retention group from soliciting or selling insurance or operating in any state, or in all states or in any territory or possession of the United States, upon a finding that such a group is in hazardous financial or financially impaired condition is enforceable in the courts of this State.
S.C. Code Ann. § 38-71-1050 — SC Code / Title 38 / Chapter 71 / Article 9 / Section 38-71-1050
SECTION 38-71-1050. Legal liability of policyholders not affected.
Status: in_force

Nothing contained in this article affects the legal liability of policyholders for the death of, or injury to, any member of the group.
S.C. Code Ann. § 38-12-260 — SC Code / Title 38 / Chapter 12 / Article 2 / Section 38-12-260
SECTION 38-12-260. Tangible personal property; valuation; limitations.
Status: in_force

(A)(1) Subject to the limitations of Section 38-12-220, an insurer may acquire tangible personal property or equity interests in tangible personal property, located or used wholly or in part within a domestic jurisdiction, directly or indirectly through: (a) limited partnership interests or general partnership interests not otherwise prohibited by Section 38-12-60(A)(4); (b) joint ventures; (c) stock of an investment affiliate; (d) membership interests in a limited liability company; (e) trust certificates; or (f) other similar instruments. (2) Investments acquired pursuant to item (1) are eligible only if: (a) the property is subject to a lease or other agreement with a person whose rated credit instruments in the amount of the purchase price of the personal property the insurer could then acquire pursuant to Section 38-12-230; and (b) the lease or other agreement provides the insurer the right to receive rental, purchase, or other fixed payments for the use or purchase of the property, and the aggregate value of the payments, together with the estimated residual value of the property at the end of its useful life and the estimated tax benefits to the insurer resulting from ownership of the property, are adequate to return the cost of the insurer's investment in the property plus a return considered adequate by the insurer. (B) The insurer shall compute the amount of each investment pursuant to this section on the basis of the out-of-pocket purchase price and applicable related expenses paid by the insurer for the investment, net of each borrowing made to finance the purchase price and expenses to the extent the borrowing is without recourse to the insurer. (C) An insurer may not acquire, directly or indirectly through an investment affiliate, an investment pursuant to this section if as a result of and after giving effect to the investment the aggregate amount of all investments then held by the insurer pursuant to this section exceeds: (1) two percent of its admitted assets; or (2) one-half of one percent of its admitted assets as to a single item of tangible personal property. (D) For purposes of determining compliance with the limitations of Section 38-12-220, investments acquired by an insurer pursuant to this section must be aggregated with those acquired pursuant to Section 38-12-230, and each lessee of the property pursuant to a lease referred to in this section is considered the issuer of an obligation in the amount of the investment of the insurer in the property determined as provided in subsection (B). (E) Nothing in this section applies to tangible personal property lease arrangements between an insurer and its subsidiaries and affiliates pursuant to a cost sharing arrangement or agreement permitted pursuant to Chapter 21 of this title.
S.C. Code Ann. § 38-43-680 — SC Code / Title 38 / Chapter 43 / Article 5 / Section 38-43-680
SECTION 38-43-680. Revocation or suspension of license; penalties.
Status: in_force

The director may, after notice and opportunity for a hearing, respond to a violation of a provision of this chapter under the provisions of Section 38-2-10 by: (1) revoking or suspending a limited license; or (2) imposing other penalties, including suspending the transaction of insurance at a specific rental location where a violation of this chapter occurred, as the director considers necessary or convenient to carry out the provisions of this chapter.
S.C. Code Ann. § 38-65-330 — SC Code / Title 38 / Chapter 65 / Article 5 / Section 38-65-330
SECTION 38-65-330. Conversion privilege of policy issued on franchise or wholesale plan.
Status: in_force

A life, term, or endowment insurance policy on the franchise or wholesale plan which is subject to termination under the provisions of SECTION 38-65-320 shall contain a conversion privilege not less favorable to the insured than that provided under item (8) of SECTION 38-65-210.
S.C. Code Ann. § 38-13-80 — SC Code / Title 38 / Chapter 13 / Article 1 / Section 38-13-80
SECTION 38-13-80. Annual statement as to business standing and financial condition.
Status: in_force

(A) Every insurer must file annually with the department by March first and quarterly as required by this title, a statement showing the business standing and financial condition of the insurer on December thirty-first of the preceding year. The filing must be submitted in an electronic format acceptable to the National Association of Insurance Commissioners or in the form and detail the director, or his designee, prescribes. Upon timely written request by the chief managing agent or officer setting forth reasons why the statement cannot be filed within the time provided, the director, or his designee, may grant in writing an extension of filing time for not more than thirty days. This statement must conform substantially to the form of statement adopted by the National Association of Insurance Commissioners. Unless the director, or his designee, provides otherwise, the annual statement is to be prepared in accordance with the annual statement instructions and the Accounting Practices and Procedures Manual adopted by the National Association of Insurance Commissioners. The annual statement must be verified by at least two of its principal officers, at least one of whom prepared or supervised the preparation of the annual statement. (B) The director or his designee may require every insurer to file quarterly reports and additional information considered necessary to enable the director or his designee to carry out his duties under this chapter. The reports and information must be furnished in the time and manner prescribed by the director or his designee. Effect of Amendment 2022 Act No. 195, SECTION 5, rewrote (A).
S.C. Code Ann. § 38-15-10 — SC Code / Title 38 / Chapter 15 / Section 38-15-10
SECTION 38-15-10. Special authority required for writing certain bonds; forms of the bonds.
Status: in_force

No surety insurer authorized to transact business in this State may execute a fidelity or surety bond for an officer or employee of this State or of a county, municipality, or other subdivision of this State or for an officer or employee of a bank, trust company, or other fiduciary corporation organized under the laws of this State except upon the assumption of risk and upon the forms prescribed by law or approved by the director or his designee and the Attorney General. The insurer also shall procure special authority from the director or his designee and the Attorney General for the writing of the fidelity or surety bonds.
S.C. Code Ann. § 38-55-320 — SC Code / Title 38 / Chapter 55 / Article 3 / Section 38-55-320
SECTION 38-55-320. Insurers may not contract with undertakers for funerals.
Status: in_force

It is unlawful for a life insurer, a health insurer, or a funeral benefit company to contract or agree with a funeral director, undertaker, or mortuary that the funeral director, undertaker, or mortuary shall conduct the funeral of any person insured by it.
S.C. Code Ann. § 38-27-990 — SC Code / Title 38 / Chapter 27 / Article 7 / Section 38-27-990
SECTION 38-27-990. Interstate priorities.
Status: in_force

(a) In a liquidation proceeding in this State involving one or more reciprocal states, the order of distribution of the domiciliary state controls as to all claims of residents of this State and reciprocal states. All claims of residents of reciprocal states are given equal priority of payment from general assets regardless of where the assets are located. (b) The owner of a secured claim against an insurer for which a liquidator has been appointed in this State or any other state may surrender his security and file his claim as a general creditor, or the claim may be discharged by resort to the security in accordance with SECTION 38-27-600, in which case the deficiency, if any, is treated as a claim against the general assets of the insurer on the same basis as claims of unsecured creditors.
S.C. Code Ann. § 38-79-210 — SC Code / Title 38 / Chapter 79 / Article 3 / Section 38-79-210
SECTION 38-79-210. Deficits to be recouped.
Status: in_force

Any future deficit must be recouped, pursuant to the plan of operation and the rating plan then in effect, by a rate increase applicable prospectively approved by the director or his designee pursuant to the provisions of Section 38-79-180. Effect of Amendment 2019 Act No. 67, SECTION 1, rewrote the section.
S.C. Code Ann. § 38-27-20 — SC Code / Title 38 / Chapter 27 / Article 1 / Section 38-27-20
SECTION 38-27-20. Construction.
Status: in_force

This chapter does not limit the powers granted the director or his designee by other provisions of law and must be liberally construed to effect the purpose stated in Section 38-27-30.
S.C. Code Ann. § 38-77-155 — SC Code / Title 38 / Chapter 77 / Article 3 / Section 38-77-155
SECTION 38-77-155. Distribution of funds; obtaining premium information.
Status: in_force

The director shall distribute monies annually from the Uninsured Motorists Fund among the several insurers writing motor vehicle bodily injury and property damage liability insurance on motor vehicles registered in this State. Monies must be distributed in the proportion that each insurer's premium income for the auto liability coverage bears to the total premium income for auto liability coverage written in this State during the preceding year. Premium income must be gross premiums less cancellation and return premiums for coverage required by Section 38-77-150. The director shall obtain premium information from the annual statement filed by each insurer.
S.C. Code Ann. § 38-59-250 — SC Code / Title 38 / Chapter 59 / Article 2 / Section 38-59-250
SECTION 38-59-250. Initiation of overpayment recovery efforts.
Status: in_force

(A)(1) An insurer shall initiate any overpayment recovery efforts by sending a written notice to the provider at least thirty business days prior to engaging in the overpayment recovery efforts, other than for recovery of duplicate payments or other similar adjustments relating to: (a) claims where a provider has received payment for the same services from another payor whose obligation is primary; or (b) timing or sequence of claims for the same insured that are received by the insurer out of chronological order in which the services were performed. (2) The written notice required by this section shall include: (a) the patient's name; (b) the service date; (c) the payment amount received by the provider; (d) a reasonably specific explanation of the change in payment; and (e) if the claim is submitted pursuant to a provider contract that includes an appeals process, the telephone number or a mailing address through which the provider may initiate an appeal, and the deadline by which an appeal must be received. (B) An insurer may not initiate overpayment recovery efforts more than eighteen months after the initial payment was received by the provider; however, this time limit does not apply to the initiation of overpayment recovery efforts: (1) based upon a reasonable belief of fraud or other intentional misconduct; (2) required by a self-insured plan; or (3) required by a state or federal government program.
S.C. Code Ann. § 38-55-70 — SC Code / Title 38 / Chapter 55 / Article 1 / Section 38-55-70
SECTION 38-55-70. Secured loans lawful.
Status: in_force

It is not a violation of SECTION 38-55-50 or the criminal laws of this State to offer to make or to make loans to citizens of this State to be secured by mortgage of real estate or other collateral security.
S.C. Code Ann. § 38-71-780 — SC Code / Title 38 / Chapter 71 / Article 5 / Section 38-71-780
SECTION 38-71-780. Required provision for continuation of coverage for handicapped and dependent children.
Status: in_force

A group hospital or medical expense insurance policy, hospital service plan contract, or medical service plan contract delivered or issued for delivery in this State which provides that coverage of a dependent child of an employee or other member of the coverage group terminates upon attainment of the limiting age for dependent children specified in the policy or contract shall also provide in substance that attainment of the limiting age does not operate to terminate the coverage of the child while the child is and continues to be both (a) incapable of self-sustaining employment by reason of intellectual disability or physical handicap, and (b) chiefly dependent upon the employee or member for support and maintenance, as long as proof of the incapacity and dependency is furnished to the insurer by the employee or member within thirty-one days of the child's attainment of the limiting age and subsequently as may be required by the insurer, but not more frequently than annually after the two-year period following the child's attainment of the limiting age.
S.C. Code Ann. § 38-73-1340 — SC Code / Title 38 / Chapter 73 / Article 11 / Section 38-73-1340
SECTION 38-73-1340. Appeal by minority.
Status: in_force

Any member of or subscriber to a rating organization may appeal to the Administrative Law Court from the action or decision of the rating organization in approving or rejecting any proposed change in or addition to the filings of the rating organization. The Administrative Law Court shall, after a hearing held before it upon not less than thirty days' written notice to the appellant and to the rating organization, issue an order approving the action or decision of the rating organization or directing it to give further consideration to the proposal, or, if the appeal is from the action or decision of the rating organization in rejecting a proposed addition to its filings, Administrative Law Court may, in the event it finds that the action or decision was unreasonable, issue an order directing the rating organization to make an addition to its filings on behalf of its members and subscribers in a manner consistent with its findings, within a reasonable time after the issuance of the order. If the appeal in the case of an insurer to whom the provisions of Article 5 of this chapter are applicable is based upon the failure of the rating organization to make a filing on behalf of the member or subscriber which is based on a system of expense provisions which differs, in accordance with the right granted in item (2) of Section 38-73-430, from the system of expense provisions included in a filing made by the rating organization, the Administrative Law Court shall, if it grants the appeal, order the rating organization to make the requested filing for use by the appellant. In deciding the appeal the Administrative Law Court shall apply the standards set forth in Section 38-73-430. The actual cost to the Administrative Law Court, and the Department of Insurance provided it participates in the hearing, in connection with the appeal may be charged by the Administrative Law Court to the parties making the appeal in any proportion he considers proper and must be immediately paid by the respective parties.
S.C. Code Ann. § 38-83-150 — SC Code / Title 38 / Chapter 83 / Section 38-83-150
SECTION 38-83-150. Termination of insurer's obligation as member of the association; effect of merger or consolidation of insurers; insolvency of insurer.
Status: in_force

(A) If the authority of an insurer to transact bodily injury liability insurance, other than automobile, homeowners, or farmowners, in this State terminates for any reason, its obligations as a member of the association continue until all its obligations are fulfilled and the director or his designee has so found and certified to the board of directors. (B) If a member insurer merges into or consolidates with another insurer authorized to transact insurance in this State or another insurer authorized to transact insurance in this State has reinsured the insurer's entire general liability business in this State, both the insurer and its successor or assuming reinsurer, as the case may be, are liable for the insurer's obligations to the association. (C) Any unsatisfied net liability of any insolvent member of the association must be assumed by and apportioned among the remaining members in the same manner in which assessments or gain and loss are apportioned and the association shall acquire and have all rights and remedies allowed by law in behalf of the remaining members against the estate or funds of the insolvent insurer for funds due the association.
S.C. Code Ann. § 38-53-30 — SC Code / Title 38 / Chapter 53 / Section 38-53-30
SECTION 38-53-30. Validity of undertakings.
Status: in_force

No undertaking is invalid, nor may any person be discharged from his undertaking, a forfeiture be stayed, the judgment on the undertaking be stayed, set aside, or reversed, nor the collection of the judgment be barred or defeated by reason of any defect, omission, or failure to note or record the default of any defendant or surety, because the undertaking was entered into on a Sunday or other holiday or because of any other irregularity, if it appears from the tenor of the undertaking that the official before whom it was entered into was legally authorized to take it and if the amount of bail was stated. The liability of a person on an undertaking is not affected by reason of the lack of any qualifications, sufficiency, or competency provided in any other law in this State, by reason of any other agreement whether or not the agreement is expressed in the undertaking, or because the defendant has not joined in the undertaking.