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SC S0573
Joint Resolution
Status
4/16/2025
Primary Sponsor
Banking and Insurance
Click for details
AI Summary
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Approves Regulation Document Number 5320 from the South Carolina Department of Insurance regarding Insurance Holding Company Systems
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Implements a group capital calculation and liquidity stress test framework to provide additional tools for group-wide supervision of insurers
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Establishes receivership provisions to ensure continuity of essential services and functions to insurers in receivership by affiliated entities
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Clarifies ownership of data and records for insurers in receivership proceedings
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Amendments are required to maintain the South Carolina Department of Insurance's accreditation with the National Association of Insurance Commissioners
Legislative Description
Department of Insurance - JR to Approve Regulation Document No. 5320
Last Action
Recommitted to Committee on Banking and Insurance
1/14/2026