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Indicates New Matter
Sponsors: Reps. Cato, Harrell, Scarborough, Hagood, Miller, Chellis, Bales, Hodges, Clemmons, Bowers and Gambrell
Document Path: l:\council\bills\gjk\20115sd07.doc
Introduced in the House on February 6, 2007
Introduced in the Senate on February 13, 2007
Last Amended on February 7, 2007
Currently residing in the Senate Committee on Banking and Insurance
Summary: Property and Casualty Insurance Crisis Committee
HISTORY OF LEGISLATIVE ACTIONS
Date Body Action Description with journal page number ------------------------------------------------------------------------------- 2/6/2007 House Introduced, read first time, placed on calendar without reference HJ-21 2/7/2007 House Member(s) request name added as sponsor: Hagood, Miller, Chellis, Bales, Hodges, Clemmons, Bowers, Gambrell 2/7/2007 House Amended HJ-27 2/7/2007 House Read second time HJ-28 2/8/2007 House Read third time and sent to Senate HJ-22 2/13/2007 Senate Introduced and read first time SJ-14 2/13/2007 Senate Referred to Committee on Banking and Insurance SJ-14
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VERSIONS OF THIS BILL
February 7, 2007
Introduced by Reps. Cato, Harrell, Scarborough, Hagood, Miller, Chellis, Bales, Hodges, Clemmons, Bowers and Gambrell
S. Printed 2/7/07--H.
Read the first time February 6, 2007.
TO ESTABLISH A STUDY COMMITTEE TO EXAMINE THE PROPERTY AND CASUALTY INSURANCE CRISIS FACING OWNERS OF REAL PROPERTY SITUATED IN COUNTIES BORDERING THE ATLANTIC OCEAN, TO PROVIDE FOR THE MEMBERSHIP, POWERS, DUTIES, AND FUNCTIONS OF THE COMMITTEE, AND TO PROVIDE THAT THE COMMITTEE SHALL SUBMIT ITS REPORT AND RECOMMENDATIONS BY APRIL 1, 2007.
Amend Title To Conform
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. The General Assembly finds that:
(1) the spiraling costs and increasing unavailability of homeowners and commercial insurance to owners of property in South Carolina are reaching a critical mass;
(2) homeowners and commercial insurance on property situated in this State has become increasingly difficult to obtain due to spiraling rates, decreasing availability, policy cancellations, wind pool limitations, and restrictions by companies to underwrite this type of insurance under any circumstances;
(3) swift action is required to ensure reasonably priced homeowners and commercial insurance is available for property in South Carolina.
SECTION 2. (A) A committee to study and examine the property and casualty insurance crisis facing owners of real property situated in South Carolina is hereby created. The committee after its study and examination shall render a report together with its recommendations to bring immediate relief to insureds in these areas and bring stability to this component of the insurance market.
(B) The committee shall consist of five members as follows:
(1) one member of the House of Representatives appointed by the Chairman of the House Labor, Commerce and Industry Committee;
(2) one member of the Senate appointed by the Chairman of the Senate Banking and Insurance Committee;
(3) three members appointed by the Governor, one of whom shall represent the property and casualty insurance industry, one of whom shall represent consumers of property and casualty insurance, and one of whom shall be a member of the general public at large.
(C) The Director of the Department of Insurance shall be the sixth member of the committee to serve as an ex officio nonvoting member and shall act as chairman.
(D) Appointed members shall serve a term to expire when the committee is dissolved pursuant to Section 7. Vacancies on the committee must be filled in the manner of original appointment. Committee membership does not constitute an office for purposes of the prohibition on dual office holding provided in Section 3, Article VI of the Constitution of this State. Notwithstanding Section 8-13-770 of the 1976 Code, members of the General Assembly may be appointed to serve on this committee as provided in this joint resolution.
SECTION 3. (A) The committee shall make a detailed study of the property and casualty insurance crisis facing the owners of property in South Carolina. In addition, as stated in Section 2(A) above, the committee after its study and examination shall render a report together with its recommendations to bring immediate relief to insureds and bring stability to this component of the insurance market.
(B) The committee shall meet within ten days after the effective date of this joint resolution upon call of the chairman for the purpose of organizing and thereafter among other meetings shall conduct three public meetings before submitting its report and recommendations.
SECTION 4. The committee's report and recommendations must be submitted to the House Labor, Commerce and Industry Committee, the Senate Banking and Insurance Committee, and the Governor not later than April 1, 2007.
SECTION 5. Professional and clerical services for the committee must be provided by the staff of the Department of Insurance. The Director of the Department of Insurance also may make available to the committee such materials as the director may have which would enable the committee to perform its assigned functions.
SECTION 6. The appointed members of the committee shall receive such mileage, subsistence, and per diem as is provided by law for members of state boards, commissions, and committees when engaged in the exercise of their duties as members of the committee to be paid from the approved accounts of their appointing authority. The Director of the Department of Insurance shall receive such mileage and subsistence as is provided by law for state employees while attending to the business of the committee.
SECTION 7. Upon the submission of its report and recommendations, the committee is dissolved.
SECTION 8. This joint resolution takes effect upon approval by the Governor.
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