Bulletin 2008-16 Data Call Request for Rating Manual

TO: South Carolina Department of Insurance Capitol Center 1201 Main Street, Suite 1000 Columbia, South Carolina 29201 Mailing Address: P.O. Box 100105, Columbia, S.C. 29202·3105 Telephone: (803) 737·6160 BULLETIN NUMBER 2008-16 MARK SANFORD Governor SCOTT H. RICHARDSON Director of Insurance All Licensed Writers of Medical Malpractice Insurance in the State of South Carolina FROM: Scott H. Richard~?~.~'----­ Director of Insurance SUBJECT: DATE: Data Call Request for Rating Manual - with most current information on all Fonns, Rules, Credits, Debits and Rates September 15, 2008 The purpose of this bulletin is to clarify the application of S. C. Code Ann. Reg. 69-64 to medical malpractice insurance policies and to request data from insurers writing medical malpractice insurance coverage in this state.. While Regulation 69-64 exempts certain commercial insurance policies from prior approval of forms and rates, medical malpractice insurance is not included in the definition of "exempt commercial policies" under the provisions of Regulation 69-64. Therefore, insurers writing medical malpractice insurance must file any classification, rate, rule, or rating plan, or modifications thereof, prior to its use in this State. To ensure that the Department has the latest comprehensive Rating Manual with details of all the fom1s, rules, credits, debits and rates required to rate a policy independently for each insurer writing medical malpractice insurance in South Carolina, the Department is issuing a data call to all writers of medical malpractice insurance in the state. Al1 insurers of medical malpractice insurance in South Carolina are hereby required to submit their most recently updated Rating Manual - with the exact description of all forms, mles, credits, debits and rates to the Department. The manual must be filed in "PDF" format, on a diskette, via mail. Please mail the information to: Attention: Vibha Jayasinghe South Carolina Department of Insurance P.OBox 100105 Columbia, SC 29202 The deadline for the receipt of the diskette by the SC DOl is October 15, 2008. Bulletins are the method by which the Director of Insurance forma lly communicates with persons and entities regulated by the Department. Bulletins are departmental interpretations of South Carolina insurance laws and regulations and provide guidance on the Department's enforcement approach. Bulletins do not provide legal advice. Readers should consult applicable statutes and regulations or contact an attorney for legal advice or for additional information on the impact of that legislation on their specific situation This bulletin constitutes official notice of the data call request. All questions regarding this request should be submitted to Vibha Jayasinghe v1a e-mail at Bulletins are the method by which the Director of Insurance formally communicates with persons and entities regulated by the Department. Bulletins are departmental interpretations of South Carolina insurance laws and regulations and provide guidance on the Department's enforcement approach. Bulletins do not provide legal advice. Readers should consult applicable statutes and regulations or contact an attorney for legal advice or for additional information on the impact of that legislation on their specific situation