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 scores cannot be used as grounds for refusing to issue or renew an automobile insurance policy. Additionally, it clarifies that while insurers can set rates based on relevant actuarial data, they cannot consider the aforementioned factors when determining premium rates.

Furthermore, the bill amends Section 38-77-123(A) to reinforce that insurers cannot refuse to renew policies based on similar discriminatory factors, including credit ratings and income levels. The legislation emphasizes the importance of fair treatment in the insurance market and aims to eliminate practices that may lead to unfair discrimination against individuals seeking automobile insurance. The act 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