Every insurer doing business in this State shall maintain a record of losses paid under its policies and notices as provided in its policies which may normally result in claim or loss. The records must be maintained until the next regular examination by an insurance department or for a period of five years from the date of payment of the loss or receipt of the notice.
S.C. Code Ann. § 38-13-130
Records of losses and claims
Former 1976 Code SECTION 38-13-130 [1947 (45) 322; 1952 Code SECTION 37-613; 1962 Code SECTION 37-613] recodified as SECTION 38-15-100 by 1987 Act No. 155, SECTION 1; Former 197…
Official source: South Carolina Legislature. Reproduced from public-domain South Carolina statutes; confirm against the official source for the current text. Not legal advice.