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COMMITTEE REPORT
April 18, 2006
H. 4622
Introduced by Reps. Walker, Cato, Harrell, Bingham, Leach, Loftis, Tripp, Cooper, White, Townsend, Bales, Battle and Dantzler
S. Printed 4/18/06--S.
Read the first time February 28, 2006.
To whom was referred a Bill (H. 4622) 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, etc., respectfully
That they have duly and carefully considered the same and recommend that the same do pass with amendment:
Amend the bill, as and if amended, page 2, by striking lines 3-9 and inserting:
/ (B) If this form is properly completed and executed signed by the named insured, after it has been completed by an insurance producer or a representative of the insurer, 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." /
Amend the bill further, by adding an appropriately numbered section to read:
/ SECTION . Section 38-55-75 of the 1976 Code is amended to read:
"SECTION 38-55-75. Confidentiality of information received by Department of Insurance.
The Department of Insurance may receive and shall maintain as confidential any documents or information furnished to the department by the National Association of Insurance Commissioners or insurance departments of other states regulatory officials of any state, federal agency or foreign countries which is classified as confidential by that association or state. The Department of Insurance may share documents or information, including confidential documents or information, with the National Association of Insurance Commissioners or insurance departments of other states regulatory officials of any state, federal agency or foreign countries if the association, state, federal agency or foreign country or other state agrees to maintain the same level of confidentiality as is provided under South Carolina law. Documents or information received or exchanged pursuant to this section are not subject to subpoena or subpoena duces tecum in any civil, criminal, or administrative proceeding." /
Renumber sections to conform.
Amend title to conform.
DAVID L. THOMAS for Committee.
EXPLANATION OF IMPACT:
The Department of Insurance states that this bill would have no impact on the General Fund of the State or federal and/or other funds.
Approved By:
Don Addy
Office of State Budget
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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