South Carolina Department of Insurance (SCDOI) News

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 …

South Carolina Issues Data Call of Risk Mitigation Policy Discounts

The South Carolina Department of Insurance (SCDOI) has issued a data call for property and casualty insurers writing residential property in the state in an effort to inform South Carolina’s coastal homeowners of the discounts available for performing risk mitigation …

South Carolina Extends Data Call from October Storm

The South Carolina Department of Insurance (SCDOI) has advised insurers to continue to report P&C claims as per the data call issued for the October 2015 flood event and its aftermath. The data call was originally issued Oct. 13, 2015 …

Disaster Loans Available to Agricultural Entities in South Carolina

The U.S. Small Business Administration announced Dec. 8 that federal Economic Injury Disaster Loans are available to small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations located in South Carolina as a result of …

South Carolina Insurers to Weather At Least $181M in Claims from October Storm

The mega-storm that devastated South Carolina in early October is estimated to have cost more than $1.4 billion with insurers paying around $181 million of those losses in claims, so far. South Carolina Gov. Nikki Haley announced the flood damage …