H 4900 General Bill, By J.J. Bailey, R.A. Barber, T.M. Burriss, R.S. Corning, 
Fair, H.M. Hallman, D.N. Holt, M.F. Jaskwhich, H.H. Keyserling, Koon, 
Littlejohn, S.G. Manly, T.T. Mappus, A.C. McGinnis, J. Rama, T.F. Rogers, 
R. Smith, C.Y. Waites, Washington, C.C. Wells and D.E. Winstead
 A Bill to enact the "Consumer Choice in Motor Vehicle Insurance Act"; to amend
 Section 38-77-950, as amended, relating to automobile insurance, unreasonable
 or excessive use of the Reinsurance Facility by an insurer, and notice to a
 policyholder that his policy is in the Facility, so as to provide that, in
 order to eliminate cross-subsidization between premiums generated under each
 tort options, all insurers shall apply the cession limitation to each of the
 options whose risks are ceded, and provide that under either option,
 recoupment only applies to the coverages ceded to the Facility under each
 respective option; to amend Section 38-77-600, as amended, relating to
 automobile insurance and the Reinsurance Facility recoupment charge, so as to
 provide that, for purposes of interpreting and applying the Facility
 recoupment charge formula to risks ceded under the tort and no-fault options
 in accordance with Section 38-77-950, a separate "net facility operating loss"
 must be developed independently for risks ceded under each option and the
 formula applied independently to each option in order for separate recoupment
 charges to be developed for insureds under each option, provide that personal
 protection insureds shall continue to pay the appropriate tort recoupment
 charge until the personal protection recoupment charges are determinable in
 accordance with current facility operations and accounting procedures, and
 provide that, in order to carry out the intent to shift one-half of recoupment
 charges off zero merit surcharge risks, the Chief Insurance Commissioner may
 modify the formula; to amend Section 16-1-10, as amended, relating to crimes
 classified as felonies, so as to include the offenses provided for in this
 Act; and to provide that this Act applies to the use or operation of motor
 vehicles in South Carolina on and after the effective date of this Act, and
 provide that a policy of liability insurance obtained to satisfy the financial
 responsibility laws of this State must be construed as if the full tort
 insurance requirements specified in this Act were embodied in the policy
 unless, before the effective date of this Act, the named insured has exercised
 a right of election for personal protection coverage pursuant to provisions of
 this Act.
   03/28/90  House  Introduced and read first time HJ-201
   03/28/90  House  Referred to Committee on Labor, Commerce and
                     Industry HJ-202