Current Status Introducing Body:Senate Bill Number:525 Ratification Number:190 Act Number:104 Primary Sponsor:Committee (02) Type of Legislation:GB Subject:Motor vehicle insurance premiums, provisions Date Bill Passed both Bodies:19930602 Computer Document Number:525 Governor's Action:S Date of Governor's Action:19930611 Introduced Date:19930309 Date of Last Amendment:19930601 Last History Body:------ Last History Date:19930611 Last History Type:Act No. 104 Scope of Legislation:Statewide Sponsor Committee:Banking and Insurance Sponsor Committee Number:02 Type of Legislation:General Bill
Bill Body Date Action Description CMN Leg Involved
---- ------ ------------ ------------------------------ --- ------------
525 ------ 19930611 Act No. 104
525 ------ 19930611 Signed by Governor
525 ------ 19930610 Ratified R 190
525 House 19930602 Concurred in Senate
amendment, enrolled for
ratification
525 Senate 19930601 House amendments amended,
returned to House
525 Senate 19930420 Reconsidered vote whereby
non-concurred in House
amendments
525 Senate 19930420 Non-concurrence in House
amendment
525 House 19930416 Read third time, returned
with amendment
525 House 19930415 Amended, read second time,
unanimous consent for third
reading on next Legislative
day
525 House 19930407 Committee Report: Favorable 26
with amendment
525 House 19930316 Introduced, read first time, 26
referred to Committee
525 Senate 19930312 Read third time, sent to House
525 Senate 19930311 Read second time, unanimous
consent for third reading on
Friday, March 12, 1993
525 Senate 19930309 Introduced, read first time,
placed on Calendar without
reference
View additional legislative information at the LPITS web site.
(A104, R190, S525)
AN ACT TO AMEND SECTION 38-77-950, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO UNREASONABLE OR EXCESSIVE USE OF THE REINSURANCE FACILITY BY INSURERS, SO AS TO PROVIDE THAT THE TOTAL DIRECT CEDEABLE WRITTEN PREMIUMS AS USED IN THIS SECTION DO NOT INCLUDE PREMIUMS ATTRIBUTABLE TO RISKS CEDED TO THE FACILITY THAT DO NOT QUALIFY FOR THE SAFE DRIVER DISCOUNT PURSUANT TO SECTION 38-73-760(e).
Be it enacted by the General Assembly of the State of South Carolina:
Total direct cedeable written premiums
SECTION 1. Section 38-77-950 of the 1976 Code is amended to read:
"Section 38-77-950. It is the intent of this chapter that the facility must not be excessively nor unreasonably utilized by automobile insurers for unfairly competitive purposes or for purposes of unfairly discriminating against certain classes or types of automobile insurance risks having the same or similar objective risk characteristics as other risks in the same class under the rating plan for the classification of risks promulgated by the department, nor for the purpose of discriminating against the risks or risks in certain rating territories. The commissioner shall prohibit unreasonable or excessive utilization of the facility. A prima facie case of excessive or unreasonable utilization is established upon a showing that an automobile insurance insurer or a group of insurers under the same management has ceded or is about to cede more than thirty-five percent of total direct cedeable written premiums on South Carolina automobile insurance as reported in the most recently filed annual statement of the insurer or group. Upon the written request of the policyholder, insurance companies doing business in this State shall give written notice to the policyholder informing him whether or not he and a driver under the policy is in the facility. Insurers shall give written notice to the policyholder of a risk ceded to the facility which does not qualify for the safe driver discount in Section 38-73-760(e).
Total direct cedeable written premiums as used in this section do not include premiums attributable to risks ceded to the facility that do not qualify for the safe driver discount in Section 38-73-760(e) for twenty-four months following October 1, 1993."
Time effective
SECTION 2. This act takes effect upon approval of the Governor.
Approved the 11th day of June, 1993.