H*3308(Rat #0345, Act #0332 of 1988)  General Bill, By J.D. Bradley, Boan and 
J.W. McLeod

Similar(S 901, S 1103)
 A Bill to amend Chapter 13, Title 38, Code of Laws of South Carolina, 1976,
 relating to insurance, by adding Section 38-13-85 so as to require each
 insurer authorized to write insurance in this State to file certain
 information annually with the National Association of Insurance Commissioners,
 to provide that the Association and its authorized committees, employees, or
 persons are immune from civil liability when disseminating this information in
 absence of actual malice, and to provide that certain information submitted to
 the State Department of Insurance by the Association must be confidential.

   10/06/87  House  Prefiled
   10/06/87  House  Referred to Committee on Labor, Commerce and Industry
   01/12/88  House  Introduced and read first time HJ-244
   01/12/88  House  Referred to Committee on Labor, Commerce and
                     Industry HJ-244
   01/20/88  House  Committee report: Favorable Labor, Commerce and
                     Industry HJ-409
   01/21/88  House  Read second time HJ-491
   01/26/88  House  Read third time and sent to Senate HJ-535
   01/27/88  Senate Introduced, read first time, placed on calendar
                     without reference SJ-15
   01/28/88  Senate Read second time SJ-40
   01/28/88  Senate Ordered to third reading with notice of
                     amendments SJ-40
   02/02/88  Senate Read third time and enrolled SJ-16
   02/18/88         Ratified R 345
   02/24/88         Signed By Governor
   02/24/88         Effective date 02/24/88
   02/24/88         Act No. 332
   03/08/88         Copies available

AN ACT TO AMEND CHAPTER 13, TITLE 38, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO INSURANCE, BY ADDING SECTION 38-13-85 SO AS TO REQUIRE EACH INSURER AUTHORIZED TO WRITE INSURANCE IN THIS STATE TO FILE CERTAIN INFORMATION ANNUALLY WITH THE NATIONAL ASSOCIATION OF INSURANCE COMMISSIONERS, TO PROVIDE THAT THE ASSOCIATION AND ITS AUTHORIZED COMMITTEES, EMPLOYEES, OR PERSONS ARE IMMUNE FROM CIVIL LIABILITY WHEN DISSEMINATING THIS INFORMATION IN ABSENCE OF ACTUAL MALICE, AND TO PROVIDE THAT CERTAIN INFORMATION SUBMITTED TO THE STATE DEPARTMENT OF INSURANCE BY THE ASSOCIATION MUST BE CONFIDENTIAL.

Be it enacted by the General Assembly of the State of South Carolina:

Filings with National Association of Insurance Commissioners

SECTION 1. Chapter 13, Title 38 of the 1976 Code is amended by adding:

"Section 38-13-85. (a) Every insurer who is authorized to write insurance in this State shall file annually with the National Association of Insurance Commissioners by March first a copy of its annual statement convention blank along with any additional filings prescribed by the Commissioner for the preceding year. The information filed with the National Association of Insurance Commissioners must be in the same format and scope as that required by the Commissioner and must include the signed jurat page and the actuarial certification. Any amendments and addenda to the annual statement filing subsequently filed with the Commissioner also must be filed with the National Association of Insurance Commissioners. Foreign insurers domiciled in a state which has a law substantially similar to this subsection are considered in compliance with this subsection.

(b) In the absence of actual malice, members of the National Association of Insurance Commissioners, their authorized committees, subcommittees, and task forces, their delegates, National Association of Insurance Commissioners' employees, and all others charged with the responsibility of collecting, reviewing, analyzing, and disseminating the information developed from the filing of the annual statement convention blanks are acting as agents of the Commissioner under the authority of this section and are not subject to civil liability for libel, slander, or any other cause of action by virtue of their collection, review, and analysis or dissemination of the data and information collected from the filings required by this subsection.

(c) All financial analysis ratios and examination synopses concerning insurers submitted to the Department by the National Association of Insurance Commissioners' Insurance Regulatory Information System are confidential and may not be disclosed by the Department."

Time effective

SECTION 2. This act takes effect upon approval by the Governor.