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The South Carolina Legislature is considering adding a provision to the Insurance Code providing that rescission can occur only if either: there is a mutual rescission agreement executed by all parties, or the insurer initiates a court proceeding for rescission.
Changes may be on the horizon in South Carolina for the procedure for life insurers seeking to rescind policies based on material misrepresentations in the application. The South...
Changes may be on the horizon in South Carolina for the procedure for life insurers seeking to rescind policies based on material misrepresentations…
The South Carolina Legislature is considering adding a provision to the Insurance Code providing that rescission can occur only if either: there is a mutual rescission agreement executed by all parties, or the insurer initiates a court proceeding for rescission.
The Insurance Commission (IC) has placed another pre-need firm under conservatorship due to trust fund deficiencies, the Department of Finance (DOF) said on Thursday, March 3. In a statement released by the DOF, the IC said the agency ordered Eternal Plans Inc. (EPI) to be placed under conservat