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TO AMEND SECTION 38-77-350, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE FORM TO BE USED WHEN OPTIONAL AUTOMOBILE INSURANCE COVERAGES ARE OFFERED TO AN INSURED, SO AS TO PROVIDE THAT THE FORM MUST NOT NECESSARILY BE COMPLETED BY THE INSURED, BUT MUST BE SIGNED BY THE INSURED TO BE USED AS EVIDENCE OF INFORMED SELECTION.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 38-77-350(A) and (B) of the 1976 Code is amended to read:
"(A) The director or his designee shall approve a form which that automobile insurers shall use in offering optional coverages required to be offered pursuant to law to applicants for automobile insurance policies. This form must be used by insurers for all new applicants. The form, at a minimum, must provide for each optional coverage required to be offered:
(1) a brief and concise explanation of the coverage,;
(2) a list of available limits and the range of premiums for the limits,;
(3) a space for the insured to mark whether the insured chooses to accept or reject the coverage and a space for the insured to select state the limits of coverage he the insured desires,;
(4) a space for the insured to sign the form which that acknowledges that he the insured has been offered the optional coverages,;
(5) the mailing address and telephone number of the Insurance Department which that the applicant may contact if the applicant has any questions that the insurance agent is unable to answer.
(B) If this form is properly completed and executed signed by the named insured it is conclusively presumed that there was an informed, knowing selection of coverage and neither the insurance company nor any an insurance agent has any liability is liable to the named insured or any other another insured under the policy for the insured's failure to purchase any optional coverage or higher limits."
SECTION 2. This act takes effect upon approval by the Governor.
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