Current Status Bill Number:4301 Type of Legislation:General Bill GB Introducing Body:House Introduced Date:19950601 Primary Sponsor:Cato All Sponsors:Cato, Limehouse, Allison, Quinn, Mason, Cain, J. Young, R. Smith, Lanford, Townsend, Davenport, A. Young, Cooper, Wofford, Simrill, Fulmer, Tripp, Walker, Rice, Robinson, Law, Vaughn, Knotts, Meacham, Littlejohn, Thomas, Stuart, Stille, Kirsh and Shissias Drafted Document Number:BBM\10365JM.95 Residing Body:House Current Committee:Labor, Commerce and Industry Committee 26 HLCI Subject:Insurance recoupment fee provisions
Body Date Action Description Com Leg Involved
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House 19950601 Introduced, read first time, 26 HLCI
referred to Committee
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TO PROVIDE THAT THERE SHALL BE NO RECOUPMENT FEE FOR UNPOINTED DRIVERS (DRIVERS WITH NO SURCHARGES OF INSURANCE POINTS PURSUANT TO THE UNIFORM MERIT RATING PLAN), PROVIDE THAT A FLAT RECOUPMENT FEE OF ONE HUNDRED FIFTY DOLLARS ANNUALLY SHALL BE CHARGED AND APPLIED TO DRIVERS HAVING ONE MERIT RATING POINT, AND PROVIDE FOR RELATED MATTERS.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Notwithstanding any other provision of law:
(1) There shall be no recoupment fee for unpointed drivers (drivers with no surcharges of insurance points pursuant to the Uniform Merit Rating Plan; also known as "drivers qualifying for the safe driver discount").
(2) A flat recoupment fee of one hundred fifty dollars annually shall be charged and applied to drivers having one merit rating point.
(3) The recoupment fees charged to drivers having two or more merit rating points must be based upon the same recoupment formula mandated by law with respect to the relative percentages in relation to the differences between two-pointed and three-pointed insureds, three-pointed and four-pointed insureds, four-pointed and five-pointed insureds, and so on. Two-pointed through ten-pointed drivers shall be required to pay a recoupment fee such that all losses of the South Carolina Reinsurance Facility for the preceding year are recouped.
(4) The provisions of this section apply to recoupment fees charged to drivers commencing July 1, 1995, and thereafter.
SECTION 2. Except as otherwise provided in this act, this act takes effect upon approval by the Governor.