The bill S. 196 seeks to amend the South Carolina Code of Laws by introducing new regulations for insurance adjusters through the addition of Chapters 91 and 92 to Title 38. These chapters will establish licensure requirements, exemptions, and standards of conduct for adjusters, including the necessity for individuals and business entities to be licensed, with specific exemptions for certain roles such as attorneys. The bill mandates that applicants demonstrate good moral character, pass a written examination, and complete continuing education courses to maintain their licenses. It also grants the director of insurance the authority to contract with external entities for administrative functions related to licensing and sets forth the fees associated with obtaining and renewing adjuster licenses. Additionally, the bill includes provisions for the repeal of existing Chapters 47 and 48 of Title 38, which are likely outdated.

Furthermore, the bill introduces specific regulations for public adjusters, defining their licensing requirements and prohibiting unlicensed individuals from acting in that capacity. It outlines the application process, eligibility criteria, and the necessary information to be included in the license. Public adjusters are required to maintain written contracts with clients, disclose financial interests, and adhere to ethical conduct guidelines, including prohibitions against soliciting clients during loss events. The legislation emphasizes transparency and accountability, mandating that public adjusters provide detailed disclosures to insured individuals and maintain comprehensive records of their transactions for at least five years. Overall, the bill aims to enhance consumer protection and ensure ethical practices within the public adjusting profession.

Statutes affected:
01/14/2025: 38-1-20
04/16/2025: 38-1-20
04/22/2025: 38-1-20
04/22/2025-A: 38-1-20
Latest Version: 38-1-20