South Carolina General Assembly
123rd Session, 2019-2020

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Bill 1179

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Indicates New Matter

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INTRODUCED

March 18, 2020

S. 1179

Introduced by Banking and Insurance Committee

S. Printed 3/18/20--S.

Read the first time March 18, 2020.

            

A JOINT RESOLUTION

TO APPROVE REGULATIONS OF THE DEPARTMENT OF INSURANCE, RELATING TO NAMED STORM AND WIND/HAIL DEDUCTIBLE, DESIGNATED AS REGULATION DOCUMENT NUMBER 4878, PURSUANT TO THE PROVISIONS OF ARTICLE 1, CHAPTER 23, TITLE 1 OF THE 1976 CODE.

Be it enacted by the General Assembly of the State of South Carolina:

SECTION    1.    The regulations of the Department of Insurance, relating to Named Storm and Wind/Hail Deductible, designated as Regulation Document Number 4878, and submitted to the General Assembly pursuant to the provisions of Article 1, Chapter 23, Title 1 of the 1976 Code, are approved.

SECTION    2.    This joint resolution takes effect upon approval by the Governor.

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SUMMARY AS SUBMITTED

BY PROMULGATING AGENCY.

Changes to Regulation 69-56 clarify the meaning of a "named storm" and the application of the named storm deductible or other named storm restrictions as well as provide requirements for language in policies regarding such deductibles.

The Notice of Drafting was published in the State Register on February 22, 2019.

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This web page was last updated on March 18, 2020 at 12:27 PM