The following are exempted from applying for an insurance premium service company license in South Carolina:
  • An insurer authorized to transact insurance business in this state
  • A banking institution, savings and loan association, cooperative credit union, consumer finance company authorized to do business in this state, or a supervised lender provided for in Title 37 of the SC Code of Laws authorized to do business in this state
  • The inclusion of a charge for insurance in connection with an installment sale of goods or services
  • The advancing of premiums by insurance agents and producers of record under Article 3 of Chapter 43 of this title (Section 38-39-10)