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 public adjusters. Key provisions include the requirement for individuals and business entities to be licensed, with specific exemptions for attorneys and certain insurer employees. Applicants must demonstrate good moral character, pass a written examination, and undergo background checks. Continuing education is mandated, particularly for those handling workers' compensation claims, and the director of insurance is authorized to contract with external entities for administrative functions related to licensing. The bill also repeals existing Chapters 47 and 48 of Title 38.

Chapter 92 specifically addresses public adjusters, defining their role and outlining the licensing requirements, which include submitting a completed application, passing an examination, and undergoing criminal records checks. Public adjusters must maintain transparency in their contracts with clients, including disclosing their license number and any financial interests related to the claim. The bill prohibits public adjusters from soliciting clients during loss events and requires them to maintain comprehensive records of their transactions for at least five years. Overall, the legislation aims to enhance the regulatory framework for insurance adjusters, ensuring compliance with professional standards and protecting consumer interests.

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