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South Carolina Code > Title 38 > Chapter 75 > Article 5 – Wind and Hail Insurance

§ 38-75-310 Definitions
§ 38-75-320 Declaration of purpose
§ 38-75-330 South Carolina Wind and Hail Underwriting Association created; members
§ 38-75-340 Plan of operation
§ 38-75-350 Application for coverage; issuance of policy
§ 38-75-360 Powers of Association
§ 38-75-370 Duties of members of Association; limitation on liability
§ 38-75-375 Contested assessment or interest levy by association; payment under protest; appeal; exposure to disciplinary procedures
§ 38-75-380 Liability for inspections and statements concerning risk
§ 38-75-385 Liability for acts or omissions under this article
§ 38-75-386 Essential property insurance; liability for acts and omissions
§ 38-75-390 Cession of essential property insurance to Association
§ 38-75-400 Rates
§ 38-75-410 Appeals; hearings upon appeal
§ 38-75-420 Reports of inspection by Association
§ 38-75-430 Association shall file statement of transactions and the like; additional information
§ 38-75-440 Examination into affairs of Association
§ 38-75-450 Regulations
§ 38-75-460 Expansion of area in which essential property insurance provided; factors; multiple tiers

Terms Used In South Carolina Code > Title 38 > Chapter 75 > Article 5 - Wind and Hail Insurance

  • Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
  • Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
  • Association: means the South Carolina Wind and Hail Underwriting Association established pursuant to the provisions of this article. See South Carolina Code 38-75-310
  • Coastal area: means :

    (a) all areas in Beaufort County and Colleton County which are east of the west bank of the intracoastal waterway;

    (b) the following areas in Georgetown County: all areas between the Harrell Siau Bridge and the Georgetown-Horry County border which are east of a line paralleling U. See South Carolina Code 38-75-310
  • Coinsurance: means a stipulation or requirement that the insured undertakes to be his own insurer to the extent that he fails to maintain insurance of a given percentage of the value of the property against loss or damage. See South Carolina Code 38-1-20
  • Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
  • Contract: A legal written agreement that becomes binding when signed.
  • Conviction: A judgement of guilt against a criminal defendant.
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Department: means the Department of Insurance of South Carolina. See South Carolina Code 38-1-20
  • Director: means the person who is appointed by the Governor upon the advice and consent of the Senate and who is responsible for the operation and management of the department. See South Carolina Code 38-1-20
  • Employer: means every person, firm, partnership, association, corporation, receiver, or other officer of a court of this State, the State or any political subdivision thereof, and any agent or officer of the above classes employing any person in this State. See South Carolina Code 41-10-10
  • Essential property insurance: means insurance against direct loss to property as defined and limited in the wind and hail insurance policy and forms approved by the director or his designee; and after January 1, 1995, at the request of the insured, coverage for:

    (a) actual loss of business income;

    (b) additional living expense; or

    (c) fair rental value loss. See South Carolina Code 38-75-310
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
  • Insurable property: means immovable property at fixed locations in coastal areas of the State as that term is defined, or tangible personal property located in it, which property is determined by the association to be in an insurable condition as determined by reasonable underwriting standards, but not to include farm or manufacturing property, or motor vehicles which are eligible to be licensed for highway use. See South Carolina Code 38-75-310
  • insurance: includes annuities. See South Carolina Code 38-1-20
  • Insurer: includes a corporation, fraternal organization, burial association, other association, partnership, society, order, individual, or aggregation of individuals engaging or proposing or attempting to engage as principals in any kind of insurance or surety business, including the exchanging of reciprocal or interinsurance contracts between individuals, partnerships, and corporations. See South Carolina Code 38-1-20
  • Joint resolution: A legislative measure which requires the approval of both chambers.
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Net direct premiums: means gross direct premiums excluding reinsurance assumed and ceded written on property other than farm or manufacturing in this State for fire and extended coverage insurance, including the fire and extended coverage components of homeowners policy and commercial multiple peril package policies, less return premiums upon canceled contracts, dividends paid or credited to policyholders, or the unused or unabsorbed portion of premium deposits. See South Carolina Code 38-75-310
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • Person: means a corporation, agency, partnership, association, voluntary organization, individual, or another entity, organization, or aggregation of individuals. See South Carolina Code 38-1-20
  • Personal property: All property that is not real property.
  • Plan of operation: means the plan of operation of the association approved or promulgated by the department pursuant to the provisions of this article. See South Carolina Code 38-75-310
  • Policy: means a contract of insurance. See South Carolina Code 38-1-20
  • Premium: means payment given in consideration of a contract of insurance. See South Carolina Code 38-1-20
  • Property insurance: means each insurance against direct or indirect loss of or damage to a property resulting from fire, smoke, weather disturbances, climatic conditions, earthquake, volcanic eruption, rising waters, insects, blight, animals, war damage, riot, civil commotion, destruction by order of civil authority to prevent spread of conflagration or for other reason, water damage, vandalism, glass breakage, explosion of a water system, collision, theft of automobiles, and personal effects in them (but no other forms of theft insurance), loss of or damage to domestic or wild animals, and any other perils to property which in the discretion of the director or his designee form proper subjects of property insurance, if not specified in items (1), (7), (11), (35), (40), (54), or (59) of this section. See South Carolina Code 38-1-20
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
  • Seacoast area: means all areas within Horry, Georgetown, Berkeley, Charleston, Dorchester, Colleton, Beaufort, and Jasper Counties. See South Carolina Code 38-75-310
  • Solicit: means attempting to sell insurance or asking or urging a person to apply for a particular kind of insurance from a particular company. See South Carolina Code 38-1-20
  • Wages: means all amounts at which labor rendered is recompensed, whether the amount is fixed or ascertained on a time, task, piece, or commission basis, or other method of calculating the amount and includes vacation, holiday, and sick leave payments which are due to an employee under any employer policy or employment contract. See South Carolina Code 41-10-10

South Carolina Code > Title 38 > Chapter 75 > Article 5 – Members Shall Serve for Terms of Two Years and Shall Receive No Per Diem, Mileage, or Subsistence. Vacancies Must Be Filled in the Same Manner as the Original Appointment.

§ 38-75-480 Loss mitigation grant program; establishment; purpose
§ 38-75-485 South Carolina Hurricane Damage Mitigation Program; grant eligibility and use
§ 38-75-490 Development of rating system to evaluate relative ability of coastal property to withstand wind load from hurricane

Terms Used In South Carolina Code > Title 38 > Chapter 75 > Article 5 - Members Shall Serve for Terms of Two Years and Shall Receive No Per Diem, Mileage, or Subsistence. Vacancies Must Be Filled in the Same Manner as the Original Appointment.

  • Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
  • Department: means the Department of Insurance of South Carolina. See South Carolina Code 38-1-20
  • Director: means the person who is appointed by the Governor upon the advice and consent of the Senate and who is responsible for the operation and management of the department. See South Carolina Code 38-1-20
  • Entitlement: A Federal program or provision of law that requires payments to any person or unit of government that meets the eligibility criteria established by law. Entitlements constitute a binding obligation on the part of the Federal Government, and eligible recipients have legal recourse if the obligation is not fulfilled. Social Security and veterans' compensation and pensions are examples of entitlement programs.
  • Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
  • Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • insurance: includes annuities. See South Carolina Code 38-1-20
  • Insurer: includes a corporation, fraternal organization, burial association, other association, partnership, society, order, individual, or aggregation of individuals engaging or proposing or attempting to engage as principals in any kind of insurance or surety business, including the exchanging of reciprocal or interinsurance contracts between individuals, partnerships, and corporations. See South Carolina Code 38-1-20
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Person: means a corporation, agency, partnership, association, voluntary organization, individual, or another entity, organization, or aggregation of individuals. See South Carolina Code 38-1-20
  • Policy: means a contract of insurance. See South Carolina Code 38-1-20
  • Premium: means payment given in consideration of a contract of insurance. See South Carolina Code 38-1-20