A surplus lines broker may place a policy or endorsement providing flood insurance coverage to an eligible surplus lines insurer without making a diligent effort to seek such coverage from one or more admitted insurers required pursuant to Section 38-45-90.
HISTORY: 2020 Act No. 166 (S.882), Section 2, eff November 27, 2020.
Editor's Note
2020 Act No. 166, Section 3, provides as follows:
"SECTION 3. This act becomes effective sixty days following approval by the Governor. Insurers that are writing private flood insurance at the time of enactment have an additional one hundred twenty days to come into compliance with the requirements of this act."
Structure South Carolina Code of Laws
Chapter 101 - Private Flood Insurance Act
Section 38-101-10. Intent of chapter.
Section 38-101-20. Definitions.
Section 38-101-30. Issuance of policies.
Section 38-101-40. Private flood insurance policies; deductibles and policy limits.
Section 38-101-60. Required filings with director; review of filings; filing on behalf of insurers.
Section 38-101-100. Controlling law.
Section 38-101-120. Written notice of cancellation or nonrenewal; requirements.
Section 38-101-130. Renewal of policy.
Section 38-101-140. Authorization to promulgate bulletins, orders, or regulations.