reglab/statecodes huggingface dataset:
2023 South Carolina Code of Laws › Title 38 - Insurance › Chapter 73 - Property, Casualty, Inland Marine, And Surety Rates And Rate-making Organizations › Section 38-73-470. Disposition of uninsured motorist premium.

Two dollars of the yearly premium for uninsured motorist coverage is directed to be paid to the South Carolina Department of Motor Vehicles to be allocated in the manner provided in Section 56-10-552 on a quarterly basis. Interest earned by the "Uninsured Fund" must be retained by that fund. There is no requirement for an insurer or an agent to offer underinsured motorist coverage at limits less than the statutorily required bodily injury or property damage limits.
HISTORY: Former 1976 Code Section 56-9-840 [1962 Code Section 46-750.33:1; 1971 (57) 854; 1974 (58) 2718] recodified as Section 38-73-470 by 1987 Act No. 155, Section 1; Reenacted, 1991 Act No. 11, Section 1; 1993 Act No. 181, Section 787; 1993 Act No. 181, Section 783; 1997 Act No. 154, Section 3; 2002 Act No. 324, Section 9, eff July 1, 2002; 2012 Act No. 264, Section 1, eff June 18, 2012; 2016 Act No. 275 (S.1258), Section 10, eff July 1, 2016.
Editor's Note
2002 Act No. 324, Section 12, provides as follows:
"This act takes effect July 1, 2002; provided, however, that Section 56-10-650 and Sections 5, 6, and 9 are effective one hundred eighty days after the latter of certification by the department to the President Pro Tempore of the Senate and the Speaker of the House of Representatives that the program has been implemented and is fully prepared to accept data transmitted by the insurers or publication of final regulations by the department."
Effect of Amendment
2016 Act No. 275, Section 10, amended the section, providing that all or a portion of the fees or fines collected by the department of motor vehicles shall be credited to the state highway fund.
2023 South Carolina Code of Laws › Title 38 - Insurance › Chapter 73 - Property, Casualty, Inland Marine, And Surety Rates And Rate-making Organizations › Section 38-73-480. Rate for group automobile insurance.

An automobile insurance contract sold on the basis of a group plan or contract pursuant to Section 38-77-130 shall have a rate not less than five percent less than the individual rate for which the insurer markets a substantially similar policy.
HISTORY: Former 1976 Code Section 38-37-350 [1962 Code Section 37-591.15; 1974 (58) 2718] recodified as Section 38-73-480 by 1987 Act No. 155, Section 1; 1993 Act No. 181, Section 783.
2023 South Carolina Code of Laws › Title 38 - Insurance › Chapter 73 - Property, Casualty, Inland Marine, And Surety Rates And Rate-making Organizations › Section 38-73-490. Workers' compensation rates.

To secure fair, reasonable, adequate, and nondiscriminatory rates for workers' compensation insurance the director or his designee shall approve the rate for each classification under which workers' compensation insurance is written, which rate and classification must be the same for all insurers. The director or his designee shall, in approving the rates, make use of the experience data which may be available and any other helpful information that may be obtainable.
A proceeding under this section is considered a proceeding to fix or alter rates for consumer services in relation to the duties of the Division of Consumer Advocacy.
HISTORY: Former 1976 Code Section 42-5-90 [1936 (39) 1231; 1937 (40) 613; 1942 Code Section 7035-76; 1952 Code Section 72-409; 1962 Code Section 72-409; 1960 (51) 1646; 1980 Act No. 517 Part II, Section 20] recodified as Section 38-73-490 by 1987 Act No. 155, Section 1; 1993 Act No. 181, Section 783.
2023 South Carolina Code of Laws › Title 38 - Insurance › Chapter 73 - Property, Casualty, Inland Marine, And Surety Rates And Rate-making Organizations › Section 38-73-495. Authority to disapprove previously approved rate for classification of worker's compensation insurance; reassignment of classifications; time for filing appeal.

The director or his designee may:
(1) disapprove a previously approved rate for any classification for workers' compensation insurance upon a finding that the rate for that classification is excessive, inadequate, or unfairly discriminatory;
(2) require the division of a particular classification into separate classifications, or the joining of separate classifications into one classification, upon a finding that such action is in the public interest;
(3) direct that a particular risk be classified in a particular classification upon a finding that a risk is classified incorrectly;
(4) disapprove an experience modification rate for workers' compensation insurance upon a finding that the rate is excessive, inadequate, or unfairly discriminatory. This includes an experience modification rate that fails to account for third party reimbursements, including the Second Injury Fund. Appeals regarding experience modification rates must first be exhausted through the National Council on Compensation Insurance's dispute resolution process prior to appealing with the Department of Insurance.
Appeals to the department must be filed within one year of policy expiration date or cancellation date, whichever comes first.
HISTORY: 1990 Act No. 321, Section 1; 1990 Act No. 600, Section 1; 1993 Act No. 181, Section 783; 2000 Act No. 312, Section 17; 2007 Act No. 111, Pt II, Section 1, eff July 1, 2007, applicable to injuries that occur on or after that date.
2023 South Carolina Code of Laws › Title 38 - Insurance › Chapter 73 - Property, Casualty, Inland Marine, And Surety Rates And Rate-making Organizations › Section 38-73-500. Merit rating for workers' compensation insurance; credit; testing.

(A) For the purpose of uniformity and equality the director or his designee shall approve a system of merit rating for use in the writing of workers' compensation insurance. No system of merit rating except the one so approved may be used.
(B) This system of merit rating shall include a credit of at least five percent for an insured who participates in a program designed to prevent the use of drugs or alcoholic beverages on the job by employees of the insured. The credit must be actuarially sound and filed with the director or his designee. However, if the director determines that a credit of at least five percent is not actuarially sound, the director shall allow and order a credit of less than five percent which is actuarially sound. The director or his designee shall provide for certification of an employer drug prevention program and shall promulgate regulations for the implementation of this subsection including, but not limited to, the establishment of guidelines or a plan defining a qualified employer drug prevention program eligible for the credit which shall be used by the insurer unless the insurer has established its own guidelines or plan. In the establishment of guidelines or a plan by the director or insurer concerning a qualified drug prevention program eligible for the credit, the guidelines or plan shall include the policy statement and employee notification requirement pursuant to Section 41-1-15.
(C) The testing procedure established by the insurer, employer, or his designee, or, approved by the director, must include a provision for random sampling of all persons who receive wages and compensation in any form from the employer. If a second test is administered, the testing procedure may allow for a single sample to be split for use in the first and second tests. Positive test results must be provided in writing to the employee within twenty-four hours of the time the employer receives the test results. Each employer must keep records of each test for up to one year.
HISTORY: Former 1976 Code Section 42-5-100 [1936 (39) 1231; 1937 (40) 613; 1942 Code Section 7035-76; 1952 Code Section 72-410; 1960 (51) 1646; 1962 Code Section 72-410] recodified as Section 38-73-500 by 1987 Act No. 155, Section 1; 1993 Act No. 181, Section 783; 1997 Act No. 92, Section 1; 2014 Act No. 197 (S.826), Section 1, eff June 2, 2014.
Effect of Amendment
2014 Act No. 197, Section 1, in subsection (C), substituted "If a second test is administered, the testing procedure may allow for a single sample to be split for use in the first and second tests" for "and must provide for a second test to be administered within thirty minutes of the administration of the first test".
2023 South Carolina Code of Laws › Title 38 - Insurance › Chapter 73 - Property, Casualty, Inland Marine, And Surety Rates And Rate-making Organizations › Section 38-73-505. Reductions in premiums.

For each policy of workers' compensation insurance issued or renewed in the State on or after October 1, 1997, there shall be granted by the insurer a reduction in premium of not less than five percent pursuant to Section 38-73-500 as contained and amended in Section 1 of 1997 Act No. 92.
HISTORY: 1997 Act No. 92, Section 3.
2023 South Carolina Code of Laws › Title 38 - Insurance › Chapter 73 - Property, Casualty, Inland Marine, And Surety Rates And Rate-making Organizations › Section 38-73-510. Nonpartisan rating bureau for workers' compensation.

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.
HISTORY: Former 1976 Code Section 42-5-110 [1936 (39) 1231; 1937 (40) 613; 1942 Code Section 7035-76; 1952 Code Section 72-411; 1960 (51) 1646; 1962 Code Section 72-411] recodified as Section 38-73-510 by 1987 Act No. 155, Section 1; 1993 Act No. 181, Section 783.
2023 South Carolina Code of Laws › Title 38 - Insurance › Chapter 73 - Property, Casualty, Inland Marine, And Surety Rates And Rate-making Organizations › Section 38-73-515. Deductibles.

(A) Each insurer issuing a policy of workers' compensation insurance shall offer, as a part of the policy or as an optional endorsement to the policy, deductibles optional to the policyholder for benefits payable under Title 42. Deductible amounts offered must be disclosed fully to the prospective policyholder in writing in the amount of one hundred dollars, two hundred dollars, three hundred dollars, four hundred dollars, five hundred dollars, or increments of five hundred dollars up to a maximum of two thousand five hundred dollars for each compensable claim. The policyholder exercising the deductible option shall choose only one deductible amount.
(B) If the policyholder exercises the option and chooses a deductible, the insured employer is liable for the amount of the deductible for benefits paid for each compensable claim of work injury suffered by an employee. The insurer shall pay all or part of the deductible amount, whichever is applicable to a compensable claim, to the person or provider entitled to the benefits conferred by this chapter and then seek reimbursement from the insured employer for the applicable deductible amount. The payment or nonpayment of deductible amounts by the insured employer to the insurer must be treated under the policy insuring the liability for workers' compensation in the same manner as payment or nonpayment of premiums.
(C) Optional deductibles must be offered in each policy insuring liability for workers' compensation which is issued, delivered, issued for delivery, or renewed after June 30, 1996, unless an insured employer and insurer agree to renegotiate a workers' compensation insurance policy in effect on July 1, 1996, so as to include a provision allowing for a deductible.
(D) Premium reduction for deductibles must be determined before the application of any experience modification, premium surcharge, or premium discounts. To the extent that an employer's experience rating or safety record is based on benefits paid, money paid by the insured employer under a deductible as provided in this section must not be included as benefits paid so as to harm the experience rating of the employer.
(E) This section does not apply to employers who are approved to self-insure against liability for workers' compensation or group self-insurance funds for workers' compensation established pursuant to the laws of this State.
HISTORY: 1996 Act No. 424, Section 9.
2023 South Carolina Code of Laws › Title 38 - Insurance › Chapter 73 - Property, Casualty, Inland Marine, And Surety Rates And Rate-making Organizations › Section 38-73-520. Rate filings required.

Every insurer must file with the department, except as to exempt commercial policies, every manual of classifications, rules, and rates, every rating plan, and every modification of any of these which it proposes to use. The filing exemption shall not apply to loss cost filings by advisory or rating organizations or to the multiplier for expenses, assessments, profit, and contingencies and any modifications to loss costs used by a workers' compensation insurer to be applied to approved loss costs to develop the insurer's rates as provided in Section 38-73-525. Every filing must state the proposed effective date and indicate the character and extent of the coverage contemplated.
HISTORY: Former 1976 Code Section 38-43-440 [1947 (45) 322; 1952 Code Section 37-684; 1962 Code Section 37-684] recodified as Section 38-73-520 by 1987 Act No. 155, Section 1; 1993 Act No. 181, Section 783; 2000 Act No. 235, Section 7; 2002 Act No. 300, Section 3, eff January 1, 2003; 2007 Act No. 111, Pt III, Section 1, eff July 1, 2007, applicable to injuries that occur on or after that date.
2023 South Carolina Code of Laws › Title 38 - Insurance › Chapter 73 - Property, Casualty, Inland Marine, And Surety Rates And Rate-making Organizations › Section 38-73-526. Report as to availability and affordability of workers' compensation coverage.

The director or his or her designee must issue a report to the General Assembly by the first of January each year that evaluates the state of the workers' compensation insurance market in this State. The report must contain an analysis of the availability and affordability of workers' compensation coverage and document that the department has complied with the provisions of Sections 38-73-430 and 38-73-525 with regard to both workers' compensation loss cost filings submitted by an advisory or rating organization and multiplier filings submitted by every insurer writing workers' compensation insurance.
HISTORY: 2007 Act No. 111, Pt III, Section 7, eff July 1, 2007, applicable to injuries that occur on or after that date.
2023 South Carolina Code of Laws › Title 38 - Insurance › Chapter 73 - Property, Casualty, Inland Marine, And Surety Rates And Rate-making Organizations › Section 38-73-530. Competitive rate on specific risk.

The director or his designee may, upon the filing with him of an affidavit setting forth information required by him, grant permission to a licensed insurer to make a rate competing with any nonlicensed insurer in any specific risk.
HISTORY: Former 1976 Code Section 38-43-450 [1947 (45) 322; 1952 Code Section 37-685; 1962 Code Section 37-685] recodified as Section 38-73-530 by 1987 Act No. 155, Section 1; 1993 Act No. 181, Section 783.
2023 South Carolina Code of Laws › Title 38 - Insurance › Chapter 73 - Property, Casualty, Inland Marine, And Surety Rates And Rate-making Organizations › Section 38-73-710. State Rating and Statistical Division established; executive director.

There is established within the department a State Rating and Statistical Division which is under the administrative direction of the Director of the Department of Insurance. Nothing precludes the appointment by the director of a deputy director of any person who is now or may hereafter be an employee of the department, in addition to or substitution for his other duties or responsibilities.
HISTORY: Former 1976 Code Section 38-37-510 [1962 Code Section 37-591.21; 1974 (58) 2718] recodified as Section 38-73-710 by 1987 Act No. 155, Section 1; 1993 Act No. 181, Section 783.
2023 South Carolina Code of Laws › Title 38 - Insurance › Chapter 73 - Property, Casualty, Inland Marine, And Surety Rates And Rate-making Organizations › Section 38-73-740. Certain information must be retained; inspection by applicant.

All information, including investigative and credit reports used in determining the classification or premium rates of any person applying for automobile insurance, must be kept on file by the insurer for at least three years from the date the application was made. Upon request of the applicant, the contents of the file must be made available for inspection by the applicant and copies of the documents must be furnished the applicant if he pays the cost of reproducing the copies.
HISTORY: Former 1976 Code Section 38-37-330 [1962 Code Section 37-591.13; 1974 (58) 2718] recodified as Section 38-37-740 by 1987 Act No. 155, Section 1; 1993 Act No. 181, Section 783.
2023 South Carolina Code of Laws › Title 38 - Insurance › Chapter 73 - Property, Casualty, Inland Marine, And Surety Rates And Rate-making Organizations › Section 38-73-915. Authority granted director or designee; effect of legislation and court decisions.

(A) The director or his designee in reviewing rate filings may take into consideration recently passed legislation or recently rendered court decisions which will have an effect on insurance rates. The director or his designee may use such information to reduce or increase the rate level of the insurer or the rating organization.
(B) The director or his designee may order an insurer or rating organization to reduce or increase its current rate levels as a result of recently passed legislation or recently rendered court decisions. The director or his designee shall give the insurer or rating organization and the Consumer Advocate thirty days notice of his intention to order a reduction or increase in an insurer's or rating organization's rate level. The insurer or rating organization or the Consumer Advocate may request a hearing before the director or his designee under the Administrative Procedures Act to contest the proposed order. The Consumer Advocate may participate as a party in any such hearings.
HISTORY: 1989 Act No. 148, Section 30; 1993 Act No. 181, Section 783.
2023 South Carolina Code of Laws › Title 38 - Insurance › Chapter 73 - Property, Casualty, Inland Marine, And Surety Rates And Rate-making Organizations › Section 38-73-920. No insurance may be issued except on rates filed.

An insurer may not make or issue a contract or policy except in accordance with the filings which are in effect for the insurer as provided in this chapter or in accordance with Section 38-73-1060. Notwithstanding Section 38-73-10, Section 38-73-330(2), and Section 38-73-430(4), filings for property and casualty rate increases may not be approved for any insurer or rating organization for any line, subline, or otherwise identifiable property and casualty insurance coverage for which a rate increase has previously been granted within the immediately preceding twelve months. However, if satisfactory evidence is presented to the director or his designee by an insurer or rating organization that the continued use of the previously approved rates for the line, subline, or otherwise identifiable property and casualty insurance coverage may result in the insolvency of an insurer, more frequent rate increases may be approved. Rate changes proposed where the sole factor for the change is the impact of a revised assessment does not constitute a rate increase for purposes of this section. No rate increase based upon an assessment may become effective unless the assessment has been paid. This section does not apply to contracts or policies for inland marine risks as to which filings are not required.
However, a private insurer licensed to underwrite essential property insurance as defined by Section 38-75-310(1), notwithstanding any limitations included within this title, may file and use, pursuant to the provisions of Section 38-73-1095, any rates which result in insurance premium rates of ninety percent, or less, of the insurance premium rates then approved for the South Carolina Wind and Hail Underwriting Association which result in an insurance premium increase for any policyholder situated within a coastal area of South Carolina as defined by Section 38-75-310(5) not more than once in any six-month period.
HISTORY: Former 1976 Code Section 38-43-610 [1947 (45) 322; 1952 Code Section 37-691; 1962 Code Section 37-691; 1977 Act No. 107] recodified as Section 38-73-920 by 1987 Act No. 155, Section 1; 1993 Act No. 181, Section 783; 1996 Act No. 378, Section 5; 2004 Act No. 315, Section 2, eff October 12, 2004.
2023 South Carolina Code of Laws › Title 38 - Insurance › Chapter 73 - Property, Casualty, Inland Marine, And Surety Rates And Rate-making Organizations › Section 38-73-930. Guidelines and formats for filing.

The department shall, when it is considered appropriate, issue by regulation specific mandatory guidelines and formats for filing with the department so as to promote uniformity and consistency and facilitate meaningful comparisons. Any guidelines and formats issued shall include requirements for detailed breakdowns on the total expense component of any filing.
HISTORY: Former 1976 Code Section 38-43-615 [1962 Code Section 37-691.1; 1977 Act No. 151 Section 1] recodified as Section 38-73-930 by 1987 Act No. 155, Section 1; 1993 Act No. 181, Section 783.
2023 South Carolina Code of Laws › Title 38 - Insurance › Chapter 73 - Property, Casualty, Inland Marine, And Surety Rates And Rate-making Organizations › Section 38-73-935. Rate filings; information based upon; exceptions.

No rate filing for private passenger automobile insurance may include or be based upon actual or projected loss or expense data which includes payments made on policies, wherein the amount of the settlement, judgment, or other payment by the insurer was in excess of the policy limits, exclusive of interest and costs. No rate filing for private passenger automobile insurance may include or be based upon actual or projected loss or expense data which includes payments made as a result of the insurer's tortious breach of it's duty of good faith and fair dealing.
HISTORY: 1989 Act No. 148, Section 31; 1993 Act No. 181, Section 783.
2023 South Carolina Code of Laws › Title 38 - Insurance › Chapter 73 - Property, Casualty, Inland Marine, And Surety Rates And Rate-making Organizations › Section 38-73-940. Information in support of filing.

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.
HISTORY: Former 1976 Code Section 38-43-620 [1947 (45) 322; 1952 Code Section 37-692; 1962 Code Section 37-692] recodified as Section 38-73-940 by 1987 Act No. 155, Section 1; 1993 Act No. 181, Section 783.
2023 South Carolina Code of Laws › Title 38 - Insurance › Chapter 73 - Property, Casualty, Inland Marine, And Surety Rates And Rate-making Organizations › Section 38-73-950. Additional information may be required.

When a filing is not accompanied by the information upon which the insurer supports the filing and the director or his designee does not have sufficient information to determine whether the filing meets the requirements of this chapter, he shall require the insurer to furnish the information upon which it supports the filing, and in this event the waiting period commences as of the date the information is furnished.
HISTORY: Former 1976 Code Section 38-43-630 [1947 (45) 322; 1952 Code Section 37-693; 1962 Code Section 37-693] recodified as Section 38-73-950 by 1987 Act No. 155, Section 1; 1993 Act No. 181, Section 783.
2023 South Carolina Code of Laws › Title 38 - Insurance › Chapter 73 - Property, Casualty, Inland Marine, And Surety Rates And Rate-making Organizations › Section 38-73-960. Effective date of filing.

The director or his or her designee must review filings as soon as reasonably possible after they have been made in order to determine whether they meet the requirements of this chapter. Subject to the exceptions specified in Sections 38-73-965, 38-73-970, and 38-73-980, each filing must be on file for a waiting period of sixty days before it becomes effective. This period may be extended by the director or his or her designee for an additional period not to exceed sixty days if he or she gives written notice within the waiting period to the insurer or rating organization which made the filing that he or she needs additional time for the consideration of the filing. Upon written application by the insurer or rating organization, the director or his or her designee may authorize a filing which he or she has reviewed to become effective before the expiration of the waiting period or any extension thereof. A filing meets the requirements of this chapter unless disapproved by the director or his or her designee within the waiting period or any extension thereof.
HISTORY: Former 1976 Code Section 38-43-640 [1947 (45) 322; 1952 Code Section 37-694; 1962 Code Section 37-694; 1978 Act No. 627] recodified as Section 38-73-960 by 1987 Act No. 155, Section 1; 1993 Act No. 181, Section 783; 2007 Act No. 111, Pt III, Section 3, eff July 1, 2007, applicable to injuries that occur on or after that date.
2023 South Carolina Code of Laws › Title 38 - Insurance › Chapter 73 - Property, Casualty, Inland Marine, And Surety Rates And Rate-making Organizations › Section 38-73-965. Filing; effective date.

A filing made pursuant to Section 38-73-525 is governed by the effective dates specified in that section.
HISTORY: 2007 Act No. 111, Pt III, Section 4, eff July 1, 2007, applicable to injuries that occur on or after that date.
2023 South Carolina Code of Laws › Title 38 - Insurance › Chapter 73 - Property, Casualty, Inland Marine, And Surety Rates And Rate-making Organizations › Section 38-73-970. Effective date for specially rated inland marine rates.

Specific inland marine rates on risks specially rated by a rating organization become effective when filed and are considered to meet the requirements of this chapter until the time the director or his designee reviews the filing and so long thereafter as the filing remains in effect.
HISTORY: Former 1976 Code Section 38-43-650 [1947 (45) 322; 1952 Code Section 37-695; 1962 Code Section 37-695] recodified as Section 38-73-970 by 1987 Act No. 155, Section 1; 1993 Act No. 181, Section 783.
2023 South Carolina Code of Laws › Title 38 - Insurance › Chapter 73 - Property, Casualty, Inland Marine, And Surety Rates And Rate-making Organizations › Section 38-73-980. Effective date for certain surety or guaranty bonds.

Any special filing with respect to a surety or guaranty bond required by law, or by court or executive order, or by order or regulation of a public body, not covered by a previous filing, becomes effective when filed and is considered to meet the requirements of this chapter until the time the director or his designee reviews the filing and so long thereafter as the filing remains in effect.
HISTORY: Former 1976 Code Section 38-43-660 [1947 (45) 322; 1952 Code Section 37-696; 1962 Code Section 37-696] recodified as Section 38-73-980 by 1987 Act No. 155, Section 1; 1993 Act No. 181, Section 783.
2023 South Carolina Code of Laws › Title 38 - Insurance › Chapter 73 - Property, Casualty, Inland Marine, And Surety Rates And Rate-making Organizations › Section 38-73-990. Disapproval of filings generally.

Except as provided in Section 38-73-995, if within the waiting period or any extension thereof as provided in Section 38-73-960 the director or his or her designee finds that a filing or a part of a filing does not meet the requirements of this chapter, he or she must send to the insurer or rating organization which made the filing written notice of disapproval of the filing or part of a filing specifying therein in what respects he or she finds the filing or part thereof fails to meet the requirements of this chapter and stating that the filing or the part may not become effective.
HISTORY: Former 1976 Code Section 38-43-670 [1947 (45) 322; 1952 Code Section 37-697; 1962 Code Section 37-697; 1978 Act No. 486] recodified as Section 38-73-990 by 1987 Act No. 155, Section 1; 1993 Act No. 181, Section 783; 2007 Act No. 111, Pt III, Section 5, eff July 1, 2007, applicable to injuries that occur on or after that date.
2023 South Carolina Code of Laws › Title 38 - Insurance › Chapter 73 - Property, Casualty, Inland Marine, And Surety Rates And Rate-making Organizations › Section 38-73-995. Disapproval of insurer's workers' compensation rates using most recent multiplier for expenses.

An insurer's workers' compensation rates developed using its most recent multiplier for expenses, assessments, profit, and contingencies and any modifications to loss costs may be disapproved at any time after they become effective if the director or his or her designee determines that they do not meet the requirements of this chapter.
HISTORY: 2007 Act No. 111, Pt III, Section 6, eff July 1, 2007, applicable to injuries that occur on or after that date.
2023 South Carolina Code of Laws › Title 38 - Insurance › Chapter 73 - Property, Casualty, Inland Marine, And Surety Rates And Rate-making Organizations › Section 38-73-1000. Disapproval of specially rated specific inland marine rates.

If, within thirty days after a specific inland marine rate on a risk specially rated by a rating organization subject to Section 38-73-970 has become effective, the director or his designee finds that the filing does not meet the requirements of this chapter, he shall send to the rating organization which made the filing written notice of disapproval of the filing specifying therein in what respects he finds that the filing fails to meet the requirements of this chapter and stating when, within a reasonable period thereafter, the filing is no longer effective. This disapproval does not affect any contract made or issued prior to the expiration of the period set forth in the notice.
HISTORY: Former 1976 Code Section 38-43-680 [1947 (45) 322; 1952 Code Section 37-698; 1962 Code Section 37-698] recodified as Section 38-73-1000 by 1987 Act No. 155, Section 1; 1993 Act No. 181, Section 783.
2023 South Carolina Code of Laws › Title 38 - Insurance › Chapter 73 - Property, Casualty, Inland Marine, And Surety Rates And Rate-making Organizations › Section 38-73-1010. Disapproval of special surety or guaranty filings.

If, within thirty days after a special surety or guaranty filing subject to Section 38-73-980 has become effective, the director or his designee finds that the filing does not meet the requirements of this chapter, he shall send to the insurer or rating organization which made the filing written notice of disapproval of the filing specifying therein in what respects he finds that the filing fails to meet the requirements of this chapter and stating when, within a reasonable period thereafter, the filing is considered no longer effective. This disapproval does not affect any contract made or issued prior to the expiration of the period set forth in the notice.
HISTORY: Former 1976 Code Section 38-43-690 [1947 (45) 322; 1952 Code Section 37-699; 1962 Code Section 37-699] recodified as Section 38-73-1010 by 1987 Act No. 155, Section 1; 1993 Act No. 181, Section 783.
2023 South Carolina Code of Laws › Title 38 - Insurance › Chapter 73 - Property, Casualty, Inland Marine, And Surety Rates And Rate-making Organizations › Section 38-73-1020. Disapproval after applicable review period.

If at any time after the applicable review period provided for in Sections 38-73-990 to 38-73-1010 the director or his designee finds that a filing does not meet the requirements of this chapter, he shall, after a hearing held upon not less than thirty days' written notice to every insurer and rating organization which made the filing, specifying the matters to be considered at the hearing, issue an order specifying in what respects he finds that the filing fails to meet the requirements of this chapter and stating when, within a reasonable period thereafter, the filing is considered no longer effective. Copies of the order must be sent to every insurer and rating organization which made the filing. The order does not affect any contract or policy made or issued prior to the expiration of the period set forth in the order.
HISTORY: Former 1976 Code Section 38-43-700 [1947 (45) 322; 1952 Code Section 37-700; 1962 Code Section 37-700] recodified as Section 38-73-1020 by 1987 Act No. 155, Section 1; 1993 Act No. 181, Section 783.
2023 South Carolina Code of Laws › Title 38 - Insurance › Chapter 73 - Property, Casualty, Inland Marine, And Surety Rates And Rate-making Organizations › Section 38-73-1030. Review of filings on application of person aggrieved.

Any person or organization aggrieved with respect to any filing which is in effect may make written application to the director or his designee for a hearing thereon, except that the insurer or rating organization that made the filing may not proceed under this section. The application shall specify the grounds to be relied upon by the applicant. If, within thirty days after receipt of the application, the director or his designee finds that the application is made in good faith, that the applicant would be so aggrieved if his grounds are established, and that the grounds otherwise justify holding a hearing, he shall hold a hearing upon not less than thirty days' written notice to the applicant and to every insurer and rating organization which made the filing. If, after the hearing, the director or his designee finds that the filing does not meet the requirements of this chapter, he shall issue an order specifying in what respects he finds that the filing fails to meet the requirements of this chapter and stating when, within a reasonable period thereafter, the filing is considered no longer effective. Copies of the order must be sent to the applicant and to every insurer and rating organization which made the filing. The order does not affect any contract or policy made or issued prior to the expiration of the period set forth in the order.
HISTORY: Former 1976 Code Section 38-43-710 [1947 (45) 322; 1952 Code Section 37-701; 1962 Code Section 37-701] recodified as Section 38-73-1030 by 1987 Act No. 155, Section 1; 1993 Act No. 181, Section 783.
2023 South Carolina Code of Laws › Title 38 - Insurance › Chapter 73 - Property, Casualty, Inland Marine, And Surety Rates And Rate-making Organizations › Section 38-73-1040. No disapproval of certain fire, allied lines, or inland marine filings.

No manual, minimum, or class rate, rating schedule, rating plan, or rating rule of or with respect to fire and allied lines or inland marine insurance, or any modification of the foregoing, which has been filed pursuant to the requirements of Section 38-73-340 may be disapproved if the rates thereby produced meet the requirements of this chapter.
HISTORY: Former 1976 Code Section 38-43-720 [1947 (45) 322; 1952 Code Section 37-702; 1962 Code Section 37-702] recodified as Section 38-73-1040 by 1987 Act No. 155, Section 1; 1993 Act No. 181, Section 783.
2023 South Carolina Code of Laws › Title 38 - Insurance › Chapter 73 - Property, Casualty, Inland Marine, And Surety Rates And Rate-making Organizations › Section 38-73-1050. No disapproval of certain casualty or automobile filings.

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.
HISTORY: Former 1976 Code Section 38-43-730 [1947 (45) 322; 1952 Code Section 37-703; 1962 Code Section 37-703] recodified as Section 38-73-1050 by 1987 Act No. 155, Section 1; 1993 Act No. 181, Section 783.
2023 South Carolina Code of Laws › Title 38 - Insurance › Chapter 73 - Property, Casualty, Inland Marine, And Surety Rates And Rate-making Organizations › Section 38-73-1060. Use of rates and policy forms different from those filed; exceptions.

(A) Upon the written application of the insured, stating his reasons therefor, filed with the department and approved by the director or his designee, a rate different from that provided by a filing otherwise applicable may be used on any specific risk.
(B) Upon the written application of an insured which has aggregate insurance premiums, other than life, accident, and health, in excess of one hundred thousand dollars, stating the reasons therefor, filed with the department, and approved by the director or his designee, a policy form different from that provided by a filing otherwise applicable may be used on any specific risk. Any policy form filed with the department pursuant to this subsection must be considered approved if not approved or disapproved within thirty days of receipt by the department. However, the consent-to-form does not apply to policy forms providing private passenger automobile insurance coverage subject to the mandate-to-write, workers' compensation insurance coverage, or employer's liability insurance coverage and policy forms underwritten by joint underwriting transactions or joint insurance transactions.
HISTORY: Former 1976 Code Section 38-43-740 [1947 (45) 322; 1952 Code Section 37-704; 1962 Code Section 37-704] recodified as Section 38-73-1060 by 1987 Act No. 155, Section 1; 1993 Act No. 181, Section 783; 1997 Act No. 68, Section 8.
2023 South Carolina Code of Laws › Title 38 - Insurance › Chapter 73 - Property, Casualty, Inland Marine, And Surety Rates And Rate-making Organizations › Section 38-73-1070. Suspension or modification of filing requirement.

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.
HISTORY: Former 1976 Code Section 38-43-750 [1947 (45) 322; 1952 Code Section 37-705; 1962 Code Section 37-705] recodified as Section 38-73-1070 by 1987 Act No. 155, Section 1; 1993 Act No. 181, Section 783.
2023 South Carolina Code of Laws › Title 38 - Insurance › Chapter 73 - Property, Casualty, Inland Marine, And Surety Rates And Rate-making Organizations › Section 38-73-1080. Information to be furnished insureds; hearings and appeals of insureds.

Every rating organization and every insurer which makes its own rates shall, within a reasonable time after receiving written request therefor and upon payment of such reasonable charge as it may make, furnish to any insured affected by a rate made by it or to the authorized representative of the insured all pertinent information as to the rate. Every rating organization and every insurer which makes its own rates shall provide within this State reasonable means whereby any person aggrieved by the application of its rating system may be heard, in person or by his authorized representative, on his written request to review the manner in which the rating system has been applied in connection with the insurance afforded him. If the rating organization or insurer fails to grant or reject the request within thirty days after it is made, the applicant may proceed in the same manner as if his application had been rejected. Any party affected by the action of the rating organization or the insurer on the request may, within thirty days after written notice of the action, appeal to the director or his designee, who, after a hearing held upon not less than thirty days' written notice to the appellant and to the rating organization or insurer, may affirm or reverse the action.
HISTORY: Former 1976 Code Section 38-43-760 [1947 (45) 322; 1952 Code Section 37-706; 1962 Code Section 37-706] recodified as Section 38-73-1080 by 1987 Act No. 155, Section 1; 1993 Act No. 181, Section 783.
2023 South Carolina Code of Laws › Title 38 - Insurance › Chapter 73 - Property, Casualty, Inland Marine, And Surety Rates And Rate-making Organizations › Section 38-73-1085. Factors affecting premium rates.

The director or his designee shall make available information regarding the factors that can affect private-passenger premium rates.
HISTORY: 1989 Act No. 148, Section 29; 1993 Act No. 181, Section 783; 2023 Act No. 29 (S.500), Section 3, eff May 16, 2023.
Effect of Amendment
2023 Act No. 29, Section 3, rewrote the section.
2023 South Carolina Code of Laws › Title 38 - Insurance › Chapter 73 - Property, Casualty, Inland Marine, And Surety Rates And Rate-making Organizations › Section 38-73-1090. Determination of discrimination and removal.

The director or his designee, upon his own motion, or upon written complaint, has the power in the first instance to determine whether or not any rate fixed by any individual, bureau, or insurer is unfairly discriminatory. If he concludes, after careful and diligent inquiry and a full hearing and investigation, that there is unfair discrimination, he shall order the discrimination removed and require the individual rate maker, bureau, or insurer to promulgate a rate which is not unfairly discriminatory.
HISTORY: Former 1976 Code Section 38-43-770 [1947 (45) 322; 1952 Code Section 37-707; 1962 Code Section 37-707] recodified as Section 38-73-1090 by 1987 Act No. 155, Section 1; 1993 Act No. 181, Section 783.
2023 South Carolina Code of Laws › Title 38 - Insurance › Chapter 73 - Property, Casualty, Inland Marine, And Surety Rates And Rate-making Organizations › Section 38-73-1097. Applicability of certain provisions.

Notwithstanding any other provision of law, the provisions of Section 38-73-1095(C) and Section 38-75-755 do not apply to an insurer who issues a single or dual interest coverage property insurance policy provided through, placed by, or obtained by the creditor, lender, finance company, financial institution, bank, mortgage company, or entity having a security interest in or mortgage on the property.
HISTORY: 2008 Act No. 326, Section 15, eff June 16, 2008.
2023 South Carolina Code of Laws › Title 38 - Insurance › Chapter 73 - Property, Casualty, Inland Marine, And Surety Rates And Rate-making Organizations › Section 38-73-1100. Determination of excessive or unreasonable rates; general reduction; refund.

If at any time it appears to the director or his designee that rates charged for property, casualty, surety, marine, title, or allied lines of insurance in this State are excessive or unreasonable, in that the results of the business of the insurer in this State during the five years immediately preceding the year in which the investigation is made, as indicated by the insurer's annual statements and any supplements to them, show an aggregate operating profit in excess of a reasonable amount, then the director or his designee may order a general reduction in rates which will reduce the operating profit to a reasonable amount. Any reduction ordered by the director or his designee must be applied to the class or classes of risks as the insurer or rating bureau may elect, and they may not be compelled to reduce rates on classes which have not produced a reasonable operating profit for the five-year period. In addition to ordering a general reduction in rates, the director or his designee may also order a pro rata refund of any excessive or unreasonable profits found to have been realized by the insurer, together with interest. The director or his designee shall determine the rate of interest which must be the insurer's average rate of return for the five-year period. Any refund which is ordered must be equitably apportioned among the policyholders entitled to it, and may be given either in the form of a cash refund or as a credit toward future premiums or a combination of these two methods. In determining the question of a reasonable operating profit under this section, the director or his designee as a protection to policyholders shall give proper and reasonable consideration to conflagration liabilities, both within and without this State.
HISTORY: Former 1976 Code Section 38-43-780 [1947 (45) 322; 1952 Code Section 37-708; 1962 Code Section 37-7] recodified as Section 38-73-1100 by 1987 Act No. 155, Section 1; 1988 Act No. 442, Section 1; 1988 Act No. 673, Section 1; 1993 Act No. 181, Section 783.
2023 South Carolina Code of Laws › Title 38 - Insurance › Chapter 73 - Property, Casualty, Inland Marine, And Surety Rates And Rate-making Organizations › Section 38-73-1105. Insurer's use of definition of "underinsured motor vehicle".

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.
HISTORY: 1988 Act No. 503; 1993 Act No. 181, Section 783.
2023 South Carolina Code of Laws › Title 38 - Insurance › Chapter 73 - Property, Casualty, Inland Marine, And Surety Rates And Rate-making Organizations › Section 38-73-1110. Regulation of calculation and refunding of excess profit.

In order to assure fair implementation of Section 38-73-1100, the department shall promulgate a regulation concerning the calculation and refunding of excess profits. The regulation shall include consideration of:
(1) the total operating profits of each insurer in this State for the lines of insurance enumerated in Section 38-73-1100;
(2) the margin by which any insurer's operating results differ from the insurance industry's total results;
(3) the amount of excessive profits earned after the effective date of the refund provision of Section 38-73-1100;
(4) the insurers that operate in this State as affiliates of a group; and
(5) the development period used to determine if unpaid losses are fairly estimated.
HISTORY: 1988 Act No. 673, Section 2; 1993 Act No. 181, Section 783.