South Carolina Department of Insurance (SCDOI) News

Georgia-Based Auto Insurer Access Insurance To Be Liquidated

Insurance regulators in the Southeast are notifying policyholders in their states of a Texas-domiciled/Atlanta, Georgia-headquartered property/casualty insurance company that is to be liquidated after being placed in receivership. Access Insurance Co. is primarily a provider of non-standard auto insurance licensed …

South Carolina Insurance Dept. to Allow Employees to Bring Babies to Work

One state agency in South Carolina is getting an early start on Bring Your Daughters and Sons to Work Day. The Post and Courier of Charleston reports the South Carolina Department of Insurance announced this week it will allow new …

South Carolina Notifies Insurers of Workers’ Comp Loss Cost Updates, Filing Requirements

South Carolina has alerted insurers of several changes to loss costs for the state’s voluntary and assigned risk workers’ compensation markets, and has issued a requirement that updated loss cost multipliers be filed in response to the recent termination of …

South Carolina Reports Nearly $5M Returned to Insurance Consumers in 2017

South Carolina Department of Insurance (SCDOI) assisted South Carolina insurance consumers in receiving $4,997,748 in insurance-related payments in 2017, according to a statement from Director Ray Farmer. These recovered funds are in addition to the original amounts offered to policyholders …

South Carolina Sets Insurer Deadline Related to New Moped Safety Law

The South Carolina Department of Insurance has set a deadline for auto insurers in the state to meet the requirements of the recently passed moped safety legislation. The new moped law, which takes effect July 1, amends South Carolina’s motor …

Report: South Carolina Workers’ Comp Market Stable With Plenty of Capacity

The South Carolina workers’ compensation market is strong, according to the state department of insurance’s most recent report, as the first reform to the state’s workers’ comp system in almost a decade readies to complete a full year of enactment …

South Carolina, Florida Order Evacuations as Hurricane Matthew Approaches Southeast

The governors of Florida, Georgia and South Carolina have ordered a State of Emergency for each of their respective states as Hurricane Matthew makes its way up the Southeast coast after battering Haiti and Cuba. The Florida Division of Emergency …

South Carolina Approves Updated RMS North Atlantic Hurricane Models

Versions of global catastrophe risk management firm RMS’ North Atlantic Hurricane Models have been approved by South Carolina’s Department of Insurance for the purpose of residential rate filings. Approval for the hurricane model versions 15.0 and 15.0.1 was provided on …

South Carolina Workers’ Comp Loss Costs Going Up, New Filing Requirements Take Effect

New requirements regarding the implementation of changes in workers’ compensation loss costs have been passed by the South Carolina Legislature, and the insurance department is reminding insurers to ensure they follow the new filing rules as loss cost increases will …

South Carolina Insurance Head Talks Lessons Learned After Historic Flood

South Carolina’s coastal property insurance market is strong, but the state’s significant catastrophe risk remains an ongoing threat and not one that should be taken lightly. That is the message South Carolina Insurance Director Raymond Farmer hopes to get across …