S0957: Department of Insurance procedures

Legislative Summary

Amend The South Carolina Code Of Laws By Amending Section 38-3-150, Relating To The Authority Of The Director Of The Department Of Insurance Or His Designees To Conduct Examinations, Investigations, And Hearings, So As To Provide For The Confidentiality Of Such Investigations; By Amending Section 38-9-200, Relating To Conditions For Allowing Reinsurance Credits, So As To Revise Certain Conditions; By Amending Section 38-13-10, Relating To Insurer Examinations, So As To Provide Such Examinations Are Financial Examinations, To Apply The Provisions To Health Maintenance Organizations And Other Licensees Of The Department, To Provide Market Conduct Examinations, And To Remove Obsolete Provisions, Among Other Things; By Amending Section 38-13-70, Relating To Investigations Of Alleged Violations, So As To Provide The Director Or His Designees May Conduct Investigations, To Provide For The Confidentiality Of Investigations, And To Provide Final Orders Disciplining Licensees Are Public Information, Among Other Things; And By Amending Section 38-57-130, Relating To Insurance Trade Practices, So As To Provide Revised Exemptions From Provisions Prohibiting Misrepresentations, Special Inducements, And Rebates In Insurance Contracts.