SC H4817

Requires insurance companies to reduce rates by at least 15% for policyholders who have maintained continuous coverage for 5 or more years without filing a claim.

Prohibits insurers from canceling or non-renewing policies based solely on the number of claims filed, unless claims exceed 3 within a 24-month period.

Establishes a Policyholder Protection Fund with an initial allocation of $10 million to assist consumers displaced by insurer market withdrawals.

Mandates 90-day advance written notice to policyholders before any rate increase exceeding 10%, with clear explanation of factors contributing to the increase.

Creates an Insurance Consumer Advocate Office within the Department of Insurance to investigate complaints and represent policyholder interests in rate hearings.