
South Carolina Department of Insurance Capitol Center, 1201 Main St Form
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People also ask
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Who is responsible for regulating the insurance industry?
Introduction. Insurance is regulated by the states. This system of regulation stems from the McCarran-Ferguson Act of 1945, which describes state regulation and taxation of the industry as being in “the public interest” and clearly gives it preeminence over federal law.
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Who regulates the Insurance industry in South Carolina?
The Department of Insurance's mission is to protect insurance consumers, the public interest, and the insurance marketplace by ensuring the solvency of insurers, enforcing and implementing insurance laws, and regulating the insurance industry.
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Who oversees insurance companies in South Carolina?
The South Carolina Department of Insurance oversees how insurance companies operate in the state.
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Who is the director of the SC Department of Insurance?
Director Michael Wise | Department of Insurance, SC - Official Website.
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How to file a complaint against an insurance company in South Carolina?
How do I file a complaint? If you're having a specific problem with an insurance company, broker, agent, or adjuster, file a complaint with our Office of Consumer Services at doi.sc.gov/complaint.
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What are the insurance requirements in South Carolina?
South Carolina requires you to carry a minimum of $25,000 per person for bodily injury and $50,000 for all persons injured in one accident. Claims for bodily injury may include medical expenses, lost wages, and pain and suffering.
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What is the South Carolina Insurance Reserve Fund?
Insurance Reserve Fund (IRF) provides property and liability coverage to more than 1,000 state and local government entities in South Carolina. The reports below provide details on payments made by the IRF, including the amounts and reasons for the payments in claims and cases that have been concluded.
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What does the South Carolina Department of Insurance do?
The mission of the State of South Carolina Department of Insurance is to protect the insurance consumers, the public interest, and the insurance marketplace by ensuring the solvency of insurers; by enforcing and implementing the insurance laws of this State; and by regulating the insurance industry in an efficient, ...
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