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TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING SECTION 38-73-1091 SO AS TO CREATE AN AFFIRMATIVE DUTY OF THE DIRECTOR, AN INDIVIDUAL, BUREAU, OR INSURER TO RELEASE ALL DATA ON WHICH IS BASED AN INSURANCE RATE INCREASE.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Article 9, Chapter 73, Title 38 of the 1976 Code is amended by adding:
"Section 38-73-1091. The director, an individual, bureau, or insurer, before an insurance rate increase is effective, has an affirmative duty to release all data on which the rate increase is based to all insureds affected by the rate increase."
SECTION 2. This act takes effect upon approval by the Governor.
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