S.C. Code Ann. § 38-13-400 – Report disclosing material acquisitions and dispositions of assets or material nonrenewals, cancellations, or revisions of ceded reinsurance agreements; when due; where to file; confidentiality of information | Midpage
§ 38-13-400
S.C. Code Ann. § 38-13-400
Report disclosing material acquisitions and dispositions of assets or material nonrenewals, cancellations, or revisions of ceded reinsurance agreements; when due; where to file; confidentiality of information
(A) Effective January 1, 1995, every insurer domiciled in this State shall file a report with the director or his designee disclosing material acquisitions and dispositions of assets or material nonrenewals, cancellations, or revisions of ceded reinsurance agreements, unless such acquisitions and dispositions of assets or material nonrenewals, cancellations, or revisions of ceded reinsurance agreements have been submitted to the director or his designee for review, approval, or information purposes pursuant to other provisions of the insurance laws, regulations, or other requirements.
(B) The report required in subsection (A) is due within fifteen days after the end of the calendar month in which any of the foregoing transactions occur.
(C) One complete copy of the report, including any exhibits or other attachments filed as part thereof, must be filed with:
(1) the director or his designee; and
(2) the National Association of Insurance Commissioners.
(D) All reports obtained by or disclosed to the director or his designee pursuant to this section or Sections 38-13-410 or 38-13-420 must be given confidential treatment and are not subject to subpoena and shall not be made public by the director or his designee, the National Association of Insurance Commissioners, or any other person, except to insurance departments of other states, without the prior written consent of the insurer to which it pertains, unless the director or his designee, after giving the insurer which would be affected thereby notice and an opportunity to be heard, determines that the interest of policyholders, shareholders, or the public will be served by the publication thereof, in which event the director or his designee may publish all or any part thereof in such manner as the director or his designee considers appropriate.