South Carolina insurance laws
Insurance regulations, rate filing requirements, department info, and recent bulletins for South Carolina. Updated Apr 1, 2026.
South Carolina DOI page content changed
South Carolina DOI Website · Apr 14, 2026
Department of Insurance
South Carolina operates under a prior approval rate filing system for most property and casualty insurance lines, with specific provisions in S.C. Code Ann. § 38-73-910. The Department of Insurance, led by Director Michael Wise since May 2023, actively regulates all insurance lines through Title 38 of the South Carolina Code. The state maintains strong consumer protections including mandatory uninsured motorist coverage, a coastal wind and hail underwriting association for high-risk properties, and was the first state to enact comprehensive insurance data security legislation in 2018.
Auto Insurance
Notable Laws
- S.C. Code Ann. § 38-77-140 - Minimum liability limits of $25,000/$50,000/$25,000 required
- S.C. Code Ann. § 38-77-150 - Mandatory uninsured motorist coverage equal to liability limits with $200 deductible on property damage
- S.C. Code Ann. § 38-77-144 - No PIP coverage mandated; optional medical payments coverage available
- S.C. Code Ann. § 56-10-510 - Uninsured motorist fee of $550 annually for privilege of driving uninsured
- S.C. Code Ann. § 38-77-155 - Uninsured Motorist Fund distribution to insurers based on market share
Homeowners Insurance
Notable Laws
- S.C. Code Ann. § 38-75-730 - 30-day cancellation notice required during policy term
- S.C. Code Ann. § 38-75-750 - 60-day nonrenewal notice required at policy expiration
- S.C. Code Ann. §§ 38-75-740 et seq. - South Carolina Wind and Hail Underwriting Association (Beach Plan) for coastal wind/hail coverage
- S.C. Code Ann. § 38-75-1230 - Insurers may exclude wind and hail in coastal areas served by SCWHUA
- S.C. Code Ann. § 38-75-485 - SC Safe Home Mitigation Grant Program for hurricane retrofit grants
Recent Bulletins
Notice of Tentative 2026 Accident and Health Insurance Rates for 3-day Retro Accident and Health Insurance
Establishes tentative credit accident and health insurance rates for 2026 for loans under the Consumer Finance Law. Sets loss ratio requirements and provides opportunity for hearing.
View bulletinNotice of Tentative 2026 Credit Accident and Health Insurance Rates
Establishes tentative credit accident and health insurance rates for 2026 for consumer credit transactions under the South Carolina Consumer Protection Code.
View bulletin2025 Amendments to Chapters 12 and 21 of Title 38
Notifies insurers of amendments to the Insurance Holding Company Regulatory Act and Investments of Insurers Act, including enterprise risk reporting, group capital calculations, and investment authority changes.
View bulletinExtension of Notice of Unusual Circumstance/Catastrophe Insurance Declaration for South Carolina
Extends Bulletin 2024-11 for additional 90 days in response to Tropical Storm Helene impact, allowing insurers flexibility in coastal property insurance underwriting.
View bulletinRequirements Applicable to Short-Term, Limited-Duration Insurance Policies (STLDI)
Establishes requirements for short-term limited duration insurance and hospital indemnity policies, limiting STLDI to 4-month maximum duration and requiring specific disclosures.
View bulletinRecent Law Changes
Insurance Holding Company and Investment Amendments
Amends the Insurance Holding Company Regulatory Act (Chapter 21) and Investments of Insurers Act (Chapter 12) to enhance regulatory oversight, add enterprise risk reporting requirements, implement group capital calculations, and expand investment authority for insurers.
All insurers operating in holding company systems must comply with enhanced reporting and capital calculation requirements.
Effective: 2025-06-27
Captive Insurance Companies Modernization
Updates captive insurance statutes including definitions, capital requirements, examination procedures, filing deadlines, governance provisions, and operations of special purpose captive insurers to modernize South Carolina's captive insurance regulatory framework.
Captive insurance companies benefit from updated regulatory framework with enhanced flexibility and clearer requirements.
Effective: 2025-05-15
Service Contract Regulation
Amends S.C. Code Ann. Sections 38-72-10, 38-72-20, 38-72-40, 38-72-78 relating to service contracts, modifying definitions, registration requirements, and notice provisions for service contract providers.
Service contract providers must comply with updated registration and consumer notification requirements.
Effective: 2024-06-15
Pharmacy Benefits Manager Regulation and External Review
Expands regulation of pharmacy benefits managers (PBMs) and pharmacy services administrative organizations (PSAOs), establishes external review procedures for PBM decisions, enhances audit protections for pharmacies, and increases transparency requirements.
PBMs face enhanced regulatory oversight, external review processes, and transparency requirements affecting health insurance operations.
Effective: 2024-01-01
South Carolina Insurance Data Security Act
First-in-nation comprehensive insurance data security law based on NAIC Model Law, requiring insurers to develop information security programs, conduct risk assessments, implement cybersecurity measures, and report cybersecurity events to the Department.
All insurers must maintain comprehensive cybersecurity programs and report data breaches to the Department within 72 hours of determination.
Effective: 2019-01-01
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