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. The bill also emphasizes that insurers must not consider these factors when setting premium rates, while still allowing for the use of relevant actuarial data.

Additionally, 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. It outlines specific conditions under which insurers may not refuse renewal, such as prior accidents or claims, while also allowing for the modification of certain coverages based on claims history. The bill aims to promote fairness in the automobile insurance market by eliminating the reliance on credit-based assessments in determining insurance coverage and premiums.

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