H 4497 Session 110 (1993-1994)
H 4497 General Bill, By J.J. Bailey, R.S. Corning, J.T. McElveen, Quinn and
Scott
Similar(S 972)
A Bill to amend Section 38-77-30, as amended, Code of Laws of South Carolina,
1976, relating to the definition of "automobile insurance", so as to delete
certain language and provide that an automobile insurance policy includes a
motor vehicle liability policy defined in Section 56-9-20 and any named
nonowner automobile insurance policy.
01/13/94 House Introduced and read first time HJ-270
01/13/94 House Referred to Committee on Labor, Commerce and
Industry HJ-270
02/23/94 House Committee report: Favorable Labor, Commerce and
Industry HJ-9
03/24/94 House Read second time HJ-34
03/24/94 House Unanimous consent for third reading on next
legislative day HJ-35
03/25/94 House Read third time and sent to Senate HJ-7
03/29/94 Senate Introduced and read first time SJ-11
03/29/94 Senate Referred to Committee on Banking and Insurance SJ-11
04/14/94 Senate Committee report: Favorable Banking and Insurance SJ-24
04/19/94 Senate Read second time SJ-17
04/19/94 Senate Ordered to third reading with notice of
amendments SJ-17
05/17/94 Senate Amended SJ-397
05/17/94 Senate Read third time and returned to House with
amendments SJ-398
05/19/94 House Point of order- Senate amendments not printed and
on desks 24 hours HJ-48
05/25/94 House Senate amendment amended HJ-27
05/25/94 House Debate interrupted HJ-40
05/26/94 House Continued HJ-70
Indicates Matter Stricken
Indicates New Matter
AMENDED--NOT PRINTED IN THE HOUSE
Amendment No. 1 (L:\printing\daily\amend\4497h.1)
May 25, 1994
H. 4497
Introduced by REPS. J. Bailey, Corning, McElveen, Quinn and Scott
S. Printed 5/18/94--H.
Read the first time January 13, 1994.
A BILL
TO AMEND SECTION 38-77-30, AS AMENDED, CODE OF LAWS
OF SOUTH CAROLINA, 1976, RELATING TO THE DEFINITION
OF "AUTOMOBILE INSURANCE", SO AS TO DELETE
CERTAIN LANGUAGE AND PROVIDE THAT AN AUTOMOBILE
INSURANCE POLICY INCLUDES A MOTOR VEHICLE LIABILITY
POLICY DEFINED IN SECTION 56-9-20 AND ANY NAMED
NONOWNER AUTOMOBILE INSURANCE POLICY.
Amend Title To Conform
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 38-77-30(1) of the 1976 Code, as last amended
by Act 443 of 1992, is further amended to read:
"(1) `Automobile insurance' means automobile bodily injury
and property damage liability insurance, including medical payments
and uninsured motorist coverage, and automobile physical damage
insurance such as automobile comprehensive physical damage, collision,
fire, theft, combined additional coverage, and similar automobile
physical damage insurance and economic loss benefits as provided by
this chapter written or offered by automobile insurers. An automobile
insurance policy includes a motor vehicle liability policy as defined in
item (7) of Section 56-9-20 and any named nonowner
automobile insurance policy which covers an individual private
passenger automobile not owned by the insured, a family member of the
insured, or a resident of the same household as the insured."
SECTION 2. Section 38-73-1420 of the 1976 Code, as added by Act
148 of 1989, is amended to read:
"Section 38-73-1420. After June 30, 1989
1994, and annually thereafter, the Board of Governors
of the South Carolina Reinsurance Facility shall authorize a licensed
rating organization approved by the commissioner to file with
the commissioner an expense component for private passenger
automobile insurance rate or premium charges and after the
rating organization with the largest number of members or subscribers
has filed a pure loss component for private passenger automobile
insurance written by those automobile insurers designated pursuant
to Section 38-77-590(a), for risks written by them through producers
designated pursuant to that same section with the
commissioner. Upon the approval of such component
the components, those automobile insurers designated pursuant
to Section 38-77-590(A)(a), for risks written by them
through producers designated pursuant to that same section, shall utilize
these final rate or premium charges, provided that the final rate or
premium charges must be discounted from the actuarially indicated rates
so that the projected combined loss ratio for risks subject to the final rate
or premium charges is one hundred fifteen percent. This rate adjustment
must occur evenly over a four-year period. Pursuant to Section
38-77-610, reinsurance facility recoupment charges must be reduced to
the extent of resulting reductions in facility operating losses.
Automobile insurers designated pursuant to Section
38-77-590(A)(a) are not required to use those same final
rates or premium charges for risks written through their agents not
appointed pursuant to Section 38-77-590."
SECTION 3. Section 38-77-350(C) of the 1976 Code, as added by Act
148 of 1989, is amended to read:
"(C) An automobile insurer is not required to make a new
offer of coverage on any automobile insurance policy which renews,
extends, changes, supersedes, or replaces an existing policy. However,
the first renewal notices for existing policies after December 1, 1989,
must include the form provided in subsection (A). A policy of
automobile insurance offered or issued by a new servicing carrier for the
South Carolina Reinsurance Facility to replace a policy previously
issued by a former servicing carrier and containing the same coverage
limits as the former policy constitutes a valid replacement policy that
does not require the new servicing carrier or agent to make a new offer
of coverage or to obtain a new application from the insured."
SECTION 4. This act takes effect upon approval by the Governor.
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