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Bulletins and Orders

Posted on: December 16, 2020

Bulletin 2020-11: New Guaranty Association Notice Requirement

The South Carolina Department of Insurance has issued Bulletin 2020-11 to notify members of the South Carolina Carolina Life and Accident and Health Insurance Guaranty Association of the new requirement to issue a notice that describes the coverages, exclusions and limitations of coverage provided by the SCLAHIGA.  

Section 38-29-200(2) requires the SCLAHIGA to prepare a summary document describing the general purposes and current limitations of Chapter 29 of Title 38 of the South Carolina Code of Laws. See S.C. Code Ann. § 38-29-200(2) (2020). The notice must be submitted to the Director of Insurance for approval. Attached to Bulletin 2020-11 is a copy of the notice as approved for the SCLAHIGA in accordance with the requirements of the statute.  

Effective sixty days from the date of this bulletin, no SCLAHIGA member insurer may deliver a policy or contract to a policy owner, contract owner, certificate holder, or enrollee unless the summary document (notice) is delivered to the policy owner, contract owner, certificate holder, or enrollee at the time of delivery of the policy or contract. The document must also be made available upon request by a policy owner, contract owner, certificate holder, or enrollee. This notice requirement applies to new policies and renewals.

View Bulletin 2020-11 online here.


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