(A) There is created the South Carolina Wind and Hail Underwriting Association, an unincorporated association whose responsibilities, liability, and regulations are governed and defined by this article. The association shall function as a residual market mechanism to provide wind and hail insurance for residential and commercial property to applicants who are unable to procure this insurance in the coastal area.
(B) The association consists of all private insurers authorized to write and engage in writing property insurance within this State on a direct and statewide basis, but excluding insurers whose writings are limited to property wholly owned by parent, subsidiary, or allied organizations, or insurers whose writings are limited to property wholly owned by religious organizations. However, as a condition of exemption from membership these insurers providing property insurance for insurable property in the coastal area as defined by this article also shall provide essential property insurance for these risks. Each insurer must be a member of the association and shall remain a member of the association so long as the association is in existence as a condition of its authority to continue to transact the business of insurance in this State.
HISTORY: Former 1976 Code Section 38-39-30 [1962 Code Section 37-773; 1971 (57) 744] recodified as Section 38-75-330 by 1987 Act No. 155, Section 1; 1990 Act No. 469, Section 3; 1993 Act No. 181, Section 793; 2007 Act No. 78, Section 10, eff June 11, 2007, applicable to taxable years beginning after December 31, 2006.
Structure South Carolina Code of Laws
Chapter 75 - Property, Casualty, And Title Insurance Generally
Section 38-75-40. Validity of additional or coinsurance clause.
Section 38-75-50. Clause limiting or invalidating policies if property is encumbered is void.
Section 38-75-60. Cause of action by insurer against tenant.
Section 38-75-220. Restrictions on amount of insurance that may be written.
Section 38-75-230. Information required on contracts for purchase of mobile homes.
Section 38-75-310. Definitions.
Section 38-75-320. Declaration of purpose.
Section 38-75-330. South Carolina Wind and Hail Underwriting Association created; members.
Section 38-75-340. Plan of operation.
Section 38-75-350. Application for coverage; issuance of policy.
Section 38-75-360. Powers of Association.
Section 38-75-370. Duties of members of Association; limitation on liability.
Section 38-75-380. Liability for inspections and statements concerning risk.
Section 38-75-385. Liability for acts or omissions under this article.
Section 38-75-386. Essential property insurance; liability for acts and omissions.
Section 38-75-390. Cession of essential property insurance to Association.
Section 38-75-410. Appeals; hearings upon appeal.
Section 38-75-420. Reports of inspection by Association.
Section 38-75-440. Examination into affairs of Association.
Section 38-75-450. Regulations.
Section 38-75-470. Appointment of advisory committee; duties; membership.
Section 38-75-480. Loss mitigation grant program; establishment; purpose.
Section 38-75-485. South Carolina Hurricane Damage Mitigation Program; grant eligibility and use.
Section 38-75-710. Scope of article.
Section 38-75-720. Definitions.
Section 38-75-740. Restrictions on nonrenewal of policies.
Section 38-75-750. Requirements for renewal of policies.
Section 38-75-755. Notification to applicants or renewing policyholders.
Section 38-75-760. Unlawful practices involving cancellation, nonrenewal, or renewal of policies.
Section 38-75-770. Notice requirements for eligible surplus lines insurers.
Section 38-75-775. Coverage of licensed health care providers.
Section 38-75-790. Nonrenewal of homeowners insurance.
Section 38-75-905. Definitions.
Section 38-75-910. Limitation of risk on title insurance.
Section 38-75-920. Title insurers to maintain reinsurance reserve.
Section 38-75-930. Insolvency of domestic title insurer.
Section 38-75-940. Loss and loss expense reserves.
Section 38-75-950. Obtaining reinsurance.
Section 38-75-960. Financial interest in title insurer or agent.
Section 38-75-970. Premium rates.
Section 38-75-980. Filing of premium rate schedules.
Section 38-75-1000. Restrictions on amount of commission.
Section 38-75-1120. Report on coastal insurance issues.
Section 38-75-1130. Scope of article.
Section 38-75-1150. Separate premium for fire and allied lines coverage.
Section 38-75-1160. Notice requirement prior to cancellation or refusal to renew; exceptions.
Section 38-75-1180. Notice of reasons for cancellation or nonrenewal.
Section 38-75-1190. Immunity from liability absent malice or gross negligence.
Section 38-75-1200. Notice regarding cancellation in application for original issuance of policy.
Section 38-75-1230. Wind and hail exclusions on fire, allied lines, or homeowner's policy.
Section 38-75-1240. Provision to director of underwriting restrictions.