The bill S. 212 aims to amend Section 38-75-750 of the South Carolina Code of Laws, which pertains to the requirements for the renewal of insurance policies. The key change introduced by this bill is that an insured individual must receive notice and provide written consent for any increase in the deductible amount prior to the renewal of their insurance policy. This ensures that policyholders are fully informed and agree to any changes in their deductible before their policy is renewed.

Additionally, the bill outlines the obligations of insurers regarding the communication of renewal terms and premium statements. Insurers are required to furnish these details to the insured at least thirty days before the expiration or anniversary of the original policy. If the insurer fails to meet these requirements or does not obtain the necessary consent for a deductible increase, the insured has the right to cancel the renewal policy within thirty days of receiving the renewal terms. The bill is set to take effect upon approval by the Governor.

Statutes affected:
01/15/2025: 38-75-750
Latest Version: 38-75-750