Auto insurance in South Carolina : recommendations to eliminate recoupment fees, increase insurance competition, improve enforcement of insurance laws, replace the Reinsurance Facility

摘要

This report by the Legislative Audit Council reviews the laws, policies, and practices of the South Carolina Reinsurance Facility. The reinsurance facility provides insurance for divers in the "residual market", drivers who would generally have difficulty getting an insurance company to sell them a policy voluntarily, such as inexperienced drivers or those with a bad driving record. Due to excessive regulations, South Carolina has greatly expanded the number of drivers in its residual market and has reduced competition among insurance companies.