South Carolina § 38-83-90 Form of policy and rate structure.

South Carolina Statutes

§ 38-83-90 — Form of policy and rate structure.

South Carolina § 38-83-90

Title 38INSURANCE

Ch. 83JOINT UNDERWRITING ASSOCIATION FOR WRITING OF PROFESSIONAL LIABILITY INSURANCE

This text of South Carolina § 38-83-90 (Form of policy and rate structure.) 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. § 38-83-90 (2026).

Text

(A)Policy forms and rate structure must be on an occurrence basis and coverage provided by the association only on that basis.

(B)The policy may not contain any limitation in relation to the existing law in tort as provided by the statute of limitations of this State.

(C)The policy form shall not require as a condition precedent to settlement or compromise of any claim the consent or acquiescence of the insured. However, such settlement or compromise is not considered an admission of fault or wrongdoing by the insured.

(D)The premium rate charged for coverage must be at rates established on an actuarially sound basis, including consideration of trends in the frequency and severity of losses and must be calculated to be self-supporting.

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(A) Policy forms and rate structure must be on an occurrence basis and coverage provided by the association only on that basis. (B) The policy may not contain any limitation in relation to the existing law in tort as provided by the statute of limitations of this State. (C) The policy form shall not require as a condition precedent to settlement or compromise of any claim the consent or acquiescence of the insured. However, such settlement or compromise is not considered an admission of fault or wrongdoing by the insured. (D) The premium rate charged for coverage must be at rates established on an actuarially sound basis, including consideration of trends in the frequency and severity of losses and must be calculated to be self-supporting.