Law Gratis

Section	What It Covers	Major Requirements / Rules
Regulation of Credit Insurance (§ 69‑11.1)	Insurance sold in connection with consumer loans or credit transactions. Legal Information Institute+1	Forms of policies or certificates must be filed with and approved by the Chief Insurance Commissioner before use. Insurers must comply with a “Basic Statistical Plan” for loss/premium data to maintain a loss ratio (losses incurred to premiums earned) of approximately 50 %. Legal Information Institute+1
Private Review Agents (§ 69‑47)	Entities which perform utilization review of health care services (e.g. determining medical necessity) for insurance benefit plans. Casetext	Must obtain a certificate to operate (unless exempt). Must follow rules about appeals, notifications, timelines, renewal, etc. Casetext
Life and Health Reinsurance Agreements (§ 69‑48)	Contracts where insurers cede risk to others (reinsurers). Casetext	Requires filings, disclosures, demonstrating risk transfer, representations, and actuarial documentation; reserve credit and surplus issues must comply with Department rules. Casetext
Captive Insurance Companies (§ 69‑60)	Regulations for captives (insurers established to insure affiliated entities). Casetext	They must submit annual audited financials, reconciliation between statutory and audited filings, independent CPA/auditor, disclosure of ownership, related party transactions, certification of reserves, etc. Casetext
Unfair Discrimination on Blindness (§ 69‑32)	Prohibits unfair treatment based on being blind or partially blind. Casetext+1	Insurers may not refuse, limit, or charge different rates or coverage solely because someone is blind or partially blind. Casetext+1
Practice & Procedure for Hearings (§ 69‑31)	How contested insurance matters are heard by the Department. Casetext+1	Rules about ex parte communication, parties’ rights, representation, notice, procedure, etc. Casetext

Case	Citation	Relevance / Holding
Calhoun Life Ins. Co. v. Gambrell, 1965	Calhoun Life Ins. Co. v. Gambrell, 248 S.E.2d (S.C. 1965) Justia Law	This case is relevant to credit insurance regulation. The Court in Calhoun Life addressed whether the Insurance Department has authority to regulate premium rates for credit accident and health insurance, commissions, etc. The holding emphasized that the Legislature had not explicitly given the Department authority in certain respects; thus, the Department’s attempt to regulate rates for some credit insurance was struck down. Justia Law
INSURANCE FINANCIAL SERVICES, INC. v. South Carolina Insurance Company, 1978	271 S.C. 289 (1978), 247 S.E.2d 315 Justia Law	In this case, an insurance agency (IFS) sued the insurance company claiming wrongful termination of the agency agreement. The Court examined contractual and statutory notions of agency, but also considered Department oversight in licensing/agency contracts. While not a regulation‑case about policy form or credit insurance, it illustrates that SC courts enforce contractual and regulatory standards relating to agents and insurer relationships. Justia Law
Davis v. Nationscredit Financial Services Corporation, 1997	326 S.C. 83, 485 S.E.2d 176 (1997) Casetext	This case involved the South Carolina Consumer Protection Code, which interfaces with some of the insurance regulations under Chapter 69 (specifically credit insurance / insurances sold in connection with loans). The SC Supreme Court held that a lender “substantially complies” with disclosure requirements if the borrower receives clear and prominent disclosures of required information. This indicates how courts interpret overlap between consumer protection statutes and insurance regulations about credit insurance. Casetext