Every insurer shall file with the department, except as to inland marine risks which by general custom of the business are not written according to manual rates or rating plans and except as to exempt commercial policies, every manual, minimum, or class rate, rating schedule or rating plan, and every other rating rule and every modification of any of these which it proposes to use. The filing exemption shall not apply to loss cost filings by advisory or rating organizations. Every filing shall state the proposed effective date and shall indicate the character and extent of coverage contemplated. Specific inland marine rates on risks specially rated, made by a rating organization, must be filed with the department.
S.C. Code Ann. § 38-73-340
Rate filings required
Applied in 2 court decisions — leading case Croft Ex Rel. Estate of Croft v. Old Republic Insurance (2005)
Most recently applied in Croft Ex Rel. Estate of Croft v. Old Republic Insurance (August 2005)
Former 1976 Code SECTION 38-43-340 [1947 (45) 322; 1952 Code SECTION 37-674; 1962 Code SECTION 37-674] recodified as SECTION 38-73-340 by 1987 Act No. 155, SECTION 1; 1993 Act N…
Official source: South Carolina Legislature. Reproduced from public-domain South Carolina statutes; confirm against the official source for the current text. Not legal advice.