™Your Policy Risk Impact Agent
63 chapters · 1,607 sections in this title.
S.C. Code Ann. § 38-90-75 Discounting of loss and loss adjustment expense reserves
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(A) A captive insurance company shall file annually an actuarial opinion on loss and loss adjustment expense reserves provided by an independent actuary. The actuary may not be an employee of the captive company or its affiliates. (B) A captive insurance company may discount its …
S.C. Code Ann. § 38-90-80 Inspections and examinations; confidentiality of reports; limitations applicable to branch captive insurance companies; application of general provisions
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(A)(1) At least once every five years, and whenever the director determines it to be prudent, the director personally, or by a competent person appointed by the director, shall thoroughly inspect and examine each risk retention group or industrial insured insurance company to asc…
S.C. Code Ann. § 38-90-90 Suspension or revocation of license
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(A) The license of a captive insurance company to conduct an insurance business in this State may be suspended or revoked by the director for: (1) insolvency or impairment of capital or surplus; (2) failure to meet the requirements of Section 38-90-40; (3) refusal or failure to s…
