Bulletin 2010-08 Notice of Tentative Credit Property Insurance Rates and Opportunity to Request a He

TO: FROM: South Carolina Department of Insurance Capitol Center 1201 Main Street. Snite 1000 Columbia, South Carolina 29201 Mailing Address: P. 0. Box 100105, Columbia, SC 29202-3105 Telephone: (803) 737-6150 BULLETIN NUMBER 2010-08 MARK SANFORD Governor SCOTT RICHARDSON Director of Insurance Insurers Writing Credit Property Insurance in South Carolina in Conjunction with Consumer Credit Transactions subject to 1966 S.C. Act No. 988, Consumer Finance Law Scott H. Richardson. Director SUBJECT: Notice of Tentative Credit Property Insurance Rates and Opportunity to Request a Hearing DATE: July 30, 2010 I. NOTICE OF TENTATIVE CREDIT PROPERTY INSURANCE RATES Regulation 69-11.1, Regulation of Credit Insurance, requires the South Carolina Department of Insurance to rates for credit property insurance by August 1 of each year. The tentative rates are those the Department believes may reasonably be expected to produce a loss ratio of not less than fifty percent in the following calendar year. This bulletin constitutes official notice of the tentative rates tor 11. II. OPPORTUNITY FOR A HEARING Counsel "'l'T'"~"'"'T of Insurance respect to the Department the rates so on or before All requests must include documentation supporting your position that the tentative rates for credit property insurance need to be changed. Atter all such hearings have been held, the final rate or an affirmation of the tentative rate shall be sent to all companies before October 1, 2010. Ill. QUESTIONS Any questions or concerns about this Bulletin should be submitted in writing to the attention of: Andrew· Dvorine, Life Actuary South Carolina Department of Insurance 145 King Street, Suite 228 Charleston, South Carolina 29401 Facsimile: (843) 722-6105 E-mail: advorine@doi.sc.gov