South Carolina § 38-73-1110 Regulation of calculation and refunding of excess profit.

South Carolina Statutes

§ 38-73-1110 — Regulation of calculation and refunding of excess profit.

South Carolina § 38-73-1110

Title 38INSURANCE

Ch. 73PROPERTY, CASUALTY, INLAND MARINE, AND SURETY RATES AND RATE-MAKING ORGANIZATIONS

This text of South Carolina § 38-73-1110 (Regulation of calculation and refunding of excess profit.) is published on Counsel Stack Legal Research, covering South Carolina primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

S.C. Code Ann. § 38-73-1110 (2026).

Text

In order to assure fair implementation of Section 38-73-1100, the department shall promulgate a regulation concerning the calculation and refunding of excess profits. The regulation shall include consideration of:

(1)the total operating profits of each insurer in this State for the lines of insurance enumerated in Section 38-73-1100;

(2)the margin by which any insurer's operating results differ from the insurance industry's total results;

(3)the amount of excessive profits earned after the effective date of the refund provision of Section 38-73-1100;

(4)the insurers that operate in this State as affiliates of a group; and (5) the development period used to determine if unpaid losses are fairly estimated.

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In order to assure fair implementation of Section 38-73-1100, the department shall promulgate a regulation concerning the calculation and refunding of excess profits. The regulation shall include consideration of: (1) the total operating profits of each insurer in this State for the lines of insurance enumerated in Section 38-73-1100; (2) the margin by which any insurer's operating results differ from the insurance industry's total results; (3) the amount of excessive profits earned after the effective date of the refund provision of Section 38-73-1100; (4) the insurers that operate in this State as affiliates of a group; and (5) the development period used to determine if unpaid losses are fairly estimated.