The bill S. 215 aims to amend the South Carolina Code of Laws regarding automobile insurance by prohibiting insurers from using numerical, credit-based insurance scores or other credit ratings to determine coverage or premium amounts. Specifically, it amends Section 38-77-122 to ensure that factors such as age, sex, race, and credit ratings cannot be used as grounds for refusing to issue or renew an automobile insurance policy. Additionally, it emphasizes that insurers must not consider these factors when setting premium rates, thereby promoting fairer practices in the insurance industry.

Furthermore, the bill modifies Section 38-77-123(A) to reinforce that insurers cannot refuse to renew policies based on the same discriminatory factors, including credit ratings. The legislation aims to eliminate unfair discrimination in the issuance and renewal of automobile insurance policies, ensuring that all individuals are treated equitably regardless of their financial background or personal characteristics. The bill will take effect upon approval by the Governor.

Statutes affected:
01/15/2025: 38-77-122, 38-77-123
Latest Version: 38-77-122, 38-77-123