A South Carolina Senate leader has asked the Legislative Audit Council to review practices at the state insurance department that may have let insurance companies raise rates without adequate oversight.
Senate President Pro Tem Glenn McConnell, R-Charleston, asked the state watchdog group to review eight areas involving the agency. These include whether the agency is using accurate information and accounting for insurers’ investment income properly.
McConnell also wants to know whether rates for hurricane-related insurance are accurately calculated.
Topics Leadership Politics South Carolina
Was this article valuable?
Here are more articles you may enjoy.
Florida Engineers: Winds Under 110 mph Simply Do Not Damage Concrete Tiles 
Jury Finds Johnson & Johnson Liable for Cancer in Latest Talc Trial 
Sompo Receives Regulatory Approvals to Acquire Aspen Insurance in $3.5B Deal 
Insurance Broker Stocks Sink as AI App Sparks Disruption Fears From This Issue
