Section 38-73-1260. Subscribers to rating organizations.

SC Code § 38-73-1260 (2019) (N/A)

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Subject to rules and regulations which have been approved by the department as reasonable, each rating organization shall permit any insurer, not a member, to be a subscriber to its rating services for any kind of insurance, subdivision, or class of risk or part or combination thereof for which it is authorized to act as a rating organization. If the rating organization refuses to admit an insurer as a subscriber or fails to grant or reject an insurer's application for subscribership within thirty days after it was made, the insurer may request a review by the director or his designee. Upon review the failure to act must be treated as a rejection of the application. If the director or his designee finds at a hearing, held upon at least thirty days' written notice to the rating organization, that the insurer has been refused admittance to the rating organization as a subscriber without justification, he shall order the rating organization to admit the insurer as a subscriber. If he finds that the action of the rating organization was justified, the director or his designee shall make an order affirming its action.

Each rating organization shall furnish its rating services without discrimination to its members and subscribers.

HISTORY: Former 1976 Code Section 38-43-960 [1947 (45) 322; 1952 Code Section 37-726; 1962 Code Section 37-726] recodified as Section 38-73-1260 by 1987 Act No. 155, Section 1; 1993 Act No. 181, Section 783.

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Section 38-73-1250. Changes within rating organization.

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Section 38-73-1270. Changes in rules and regulations; review of reasonableness.