(A) The department may promulgate by emergency regulation, pursuant to Section 38-3-410, standardized requirements that may be applied to insurers as a consequence of a hurricane or other natural disaster. The emergency regulations must address the following areas:
(1) claims reporting requirements;
(2) grace periods for payment of premiums and performance of other duties by insureds;
(3) temporary postponement of cancellations and nonrenewals; and
(4) any other rule the director considers necessary.
(B) The emergency regulations adopted under this section shall require the department to issue an order within ten days after the occurrence of a hurricane or other natural disaster specifying, by line of insurance, which of the standardized requirements apply, the geographic areas in which they apply, the time at which applicability commences, and the time at which applicability terminates. An order issued pursuant to this subsection must comply with the requirements of Section 1-23-140.
HISTORY: 2007 Act No. 78, Section 4.B, eff June 11, 2007, applicable to taxable years beginning after December 31, 2006.
Structure South Carolina Code of Laws
Chapter 3 - The Department Of Insurance
Section 38-3-10. Department of Insurance and Insurance Commission established.
Section 38-3-40. Compensation and expenses of Commission members.
Section 38-3-60. Powers and duties of Commission and Director of the Department of Insurance.
Section 38-3-110. Duties of Director of the Department of Insurance.
Section 38-3-120. Oath and bond of director.
Section 38-3-130. Actuaries, examiners, clerks, and employees.
Section 38-3-140. Violations considered committed in part at office of director.
Section 38-3-160. Administration of oaths.
Section 38-3-170. Notice of hearings.
Section 38-3-180. Summoning witnesses; contempt; perjury.
Section 38-3-190. Mileage payments for witnesses.
Section 38-3-200. Orders must be in writing and signed.
Section 38-3-210. Petition for judicial review of order or decision; effect as stay.
Section 38-3-220. Certificates and papers of director as evidence.
Section 38-3-230. Director's certificate as evidence of authority to do business.
Section 38-3-240. Conversion of licenses to biennial fee collection period; particular fee periods.
Section 38-3-410. Promulgation of emergency regulations on declaration of state of emergency.
Section 38-3-420. Adoption of procedures to facilitate recovery by way of emergency regulations.
Section 38-3-440. Promulgation of regulations to implement article.