House subcommittee advances bill aimed at easing insurance rates, adopts fraud and deductible changes The House Banking and Insurance subcommittee gave a favorable report to House Bill 48 17 after adopting amendments to bolster fraud enforcement, clarify roofing referrals and modify auto-glass deductible rules; the bill will go to the House floor as amended.

A groundbreaking bill aimed at making insurance more affordable and combating fraud has just passed a key subcommittee in South Carolina!

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#SC #FraudPrevention #InsuranceReform #ConsumerProtection #CitizenPortal #SouthCarolinaInsurance

Attorney Perry Buckner urges removal of Section 16 from S.C. insurance bill, says it won't lower rates At a Banking and Insurance Subcommittee hearing, attorney Perry Buckner said Section 16 of H 48 17 — which would bar recovery of non‑economic damages for some uninsured drivers — would not reduce premiums and would strip legal remedies from certain victims. Members signaled an amendment to remove the provision when the panel reconvenes.

Attorney Perry Buckner argues that a controversial section of South Carolina's insurance bill could strip victims of their legal rights without actually lowering premiums.

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#SC #InsuranceReform #CitizenPortal #LegalRights #SouthCarolinaInsurance #PublicPolicy

Life and long‑term‑care insurers urge subcommittee to oppose broad ban on genetic information in underwriting Industry witnesses told the subcommittee that H.3257, which would bar insurers from using genetic information when underwriting life, disability and long‑term care policies, risks adverse selection and threatens long‑term affordability; witnesses urged balanced guardrails instead of a broad prohibition.

Insurers warn that banning genetic information in underwriting could lead to higher premiums and a crisis in long-term care affordability.

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#SC #HealthCarePolicy #CitizenPortal #InsuranceUnderwriting #SouthCarolinaInsurance #GeneticInformationEthics

Subcommittee adopts notice requirement for earthquake coverage; sets implementation date to Jan. 1, 2027 Representative Gatch’s H.3227 would require insurers to notify policyholders at issuance and renewal when a residential policy lacks earthquake coverage; the subcommittee adopted a boldface notice amendment and an effective date of 2027‑01‑01 and sent the amended bill to the full committee unanimously.

A new bill in South Carolina is set to ensure homeowners are fully informed about their earthquake coverage options, but will the insurance industry be ready by 2027?

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#SC #EarthquakeCoverage #InsuranceReform #ConsumerAwareness #CitizenPortal #SouthCarolinaInsurance

South Carolina regulators approve insurance company regulations amid market volatility Regulators endorse new insurance regulations to ensure financial solvency and market flexibility.

South Carolina's insurance regulators have taken a bold step to enhance oversight and ensure financial stability in a volatile market.

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#SC #CitizenPortal #FinancialStability #SouthCarolinaInsurance #MarketVolatility #RegulatoryOversight

South Carolina officials explore reforms for coastal and liquor liability insurance markets State assesses reforms to improve coastal insurance and liquor liability coverage availability.

South Carolina's Senate Finance Committee is tackling urgent reforms in coastal and liquor liability insurance as homeowners face mounting challenges and skyrocketing premiums.

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#SC #CoastalInsurance #SouthCarolinaInsurance #MarketReform #LiquorLiability #CitizenPortal