In the event of cancellation during the first year of the policy term, refund of premium for that portion of the policy term must be on a pro rata basis if cancellation is effected by the insurer or on the short rate basis if cancellation is effected by the insured.In the event of cancellation during the second year of the policy term, refund of that portion of the unearned premium attributable to the second year must be on a pro rata basis if cancellation is effected by the insurer or on the short rate basis if cancellation is effected by the insured, subject, however, to the provision that the portion of the unearned premium attributable to the third year is considered entirely unearned and must be returned in full regardless of the party responsible for cancellation.Fire insurance policy shall indicate allocation of premium and location of property.
This information must be incorporated in all daily reports or other evidence furnished by the agent of coverage assumed.
HISTORY: Former 1976 Code Section 38-43-160 [1948 (45) 1961; 1952 Code Section 37-665; 1962 Code Section 37-665; 1978 Act No. Maximum amounts of fire insurance policies; stated values; contributions by coinsurers.
HISTORY: Former 1976 Code Section 38-9-220 [1947 (45) 322; 1952 Code Section 37-157; 1962 Code Section 37-157] recodified as Section 38-75-40 by 1987 Act No. Clause limiting or invalidating policies if property is encumbered is void.
Any clause in any policy of insurance purporting or undertaking to limit or invalidate the force of the policy in case of encumbrance by real estate mortgage of the property insured by the policy is void. Notwithstanding any other provision of law, no insurer has a cause of action against a tenant who causes damage to real or personal property leased by the landlord to the tenant when the insurer is liable to the landlord for the damages under an insurance contract between the landlord and the insurer, unless the damage is caused by the tenant intentionally or in reckless disregard of the rights of others.
HISTORY: Former 1976 Code Section 38-9-210 [1947 (45) 322; 1952 Code Section 37-156; 1962 Code Section 37-156] recodified as Section 38-75-50 by 1987 Act No. HISTORY: Former 1976 Code Section 38-9-370 [En, 1977 Act No.
151 Section 2] recodified as Section 38-75-60 by 1987 Act No. Policies may not exceed three years; refund of unearned premiums on cancellation of policies.
In case of total loss by fire the insured is entitled to recover the full amount of insurance.
In case of a partial loss by fire the insured is entitled to recover the actual amount of the loss but in no event more than the amount of the insurance stated in the contract.
In case of partial loss the insured is entitled to recover the actual amount of loss but in no event more than the amount of insurance stated in the contract.
If two or more such policies are written upon the same property and covering the same interests, they are considered to be contributive insurance, and, if the aggregate sum of all such insurance exceeds the insurable value of the property, as agreed by the insured and insurer, each insurer, in the event of a total or partial loss, is liable for its pro rata share of insurance.
(3) "Plan of operation" means the plan of operation of the association approved or promulgated by the department pursuant to the provisions of this article. Editor's Note Under the provisions of Chapter 34, Title 1, an agency is required to adopt the latest edition of a nationally recognized code which it is charged by statute or regulation with enforcing by giving notice in the State Register. The purpose of this article is to assure an adequate market for wind and hail insurance in the coastal areas of this State. South Carolina Wind and Hail Underwriting Association created; members.Tags: Adult Dating, affair dating, sex dating