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. It establishes definitions, licensure requirements, and exemptions for both individual and business entity adjusters, mandating that individuals pass an examination to obtain a license and complete continuing education for license renewal. Key provisions include requirements for good moral character, knowledge of insurance laws, and compliance with background checks. The bill also proposes to repeal existing Chapters 47 and 48 of Title 38, thereby streamlining the regulatory framework governing insurance adjusters in South Carolina.

Additionally, the bill introduces a new category of adjusters known as "public adjusters," outlining specific licensing requirements and prohibiting individuals from acting as public adjusters without a license. It mandates that public adjusters provide written contracts with detailed terms and prohibits them from charging excessive fees. The legislation also includes ethical conduct guidelines, such as prohibiting solicitation during loss events and allowing insured individuals to rescind contracts within five business days. Overall, the bill aims to enhance accountability, transparency, and professionalism within the insurance adjusting industry in South Carolina.

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