South Carolina General Assembly
107th Session, 1987-1988

Bill 3308

                    Current Status

Bill Number:               3308
Ratification Number:       345
Act Number                 332
Introducing Body:          House
Subject:                   Filings with National Association of
                           Insurance Commissioners
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(Text matches printed bills. Document has been reformatted to meet World Wide Web specifications.)

(A332, R345, H3308)

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.