The association has the power on behalf of its members to:
(1) issue, or cause to be issued, policies of insurance to applicants including incidental coverages such as, but not limited to, premises or operations liability coverage on the premises where services are rendered, all subject to limits of liability as specified in the plan of operation but not to exceed five million dollars for all claimants under one policy in any one year;
(2) underwrite legal professional liability insurance and to adjust and pay losses with respect thereto or to appoint service companies to perform those functions;
(3) cede and assume reinsurance.
HISTORY: 1988 Act No. 360, Section 4; 1993 Act No. 181, Section 832.
Structure South Carolina Code of Laws
Chapter 81 - Legal Malpractice Insurance
Section 38-81-220. Definitions.
Section 38-81-230. Joint underwriting association created.
Section 38-81-240. Powers of association.
Section 38-81-250. Plan of operation.
Section 38-81-260. Legal professional liability insurance coverage by association.
Section 38-81-270. Gathering of data.
Section 38-81-280. Structuring rates.
Section 38-81-290. Filing of forms.
Section 38-81-300. Specification of coverage basis.
Section 38-81-310. Rate increases or assessments.
Section 38-81-320. Recoupment of deficits.
Section 38-81-330. Change in premium rates after initial year of operation.
Section 38-81-340. Participation of insurers.
Section 38-81-350. Members bound by approved plan.
Section 38-81-360. Continuation of obligations.
Section 38-81-370. Board of directors.