RATES, RULES, AND FORMS MANUAL Of The South Carolina …

1 This MANUAL Includes Copyrighted Material Of Insurance Services Office, Inc. With Its Permission rates , rules , AND FORMS MANUAL Of The South Carolina Wind And Hail underwriting association September 2014 Edition Mailing Address: PO Box 407 Columbia, SC 29202 Phone: 803 / 779 - 8373 Web: Street Address: 240 Stoneridge Dr Ste 101 Columbia, SC 29210 Fax: 803 / 779 - 0324 This MANUAL Includes Copyrighted Material Of Insurance Services Office, Inc.

2 With Its Permission PREFACE The rates , rules , and FORMS MANUAL of the South Carolina Wind and Hail underwriting association was designed to assist producers with placing business with the association . Unfortunately, one document cannot respond to every possible situation. Should you have any questions, please contact the association Office. You are encouraged to attend producer seminars which are periodically sponsored by the association . Many producers find the sessions to be extremely beneficial to their understanding of the operation of the association .

3 The MANUAL is available for viewing and downloading on the Internet at using the Adobe Acrobat reader. The association web site has a number of features to assist producers. Online rating In/Out mapping Policy inquiry Saved quotes Submitted applications Electronic applications Electronic rewrites Electronic payments Electronic claims reporting Viewing of select policy documents (Declarations, Inspection Reports, etc)

4 _____ South Carolina Wind & Hail underwriting association rules , rates , & Procedures MANUAL Table of Contents September 1, 2014 TABLE OF CONTENTS DIVISION I OVERVIEW A. Purpose B. Who May Apply C. Coastal Area D. Application FORMS E. Eligible Property F. Ineligible Property G. Coverage H. Hurricane Restrictions I.

5 Waiting Period J. Premiums K. Commission Rate L. Application Processing Procedures M. Inspection Program N. underwriting O. Acceptance P. Declination Q. Risk Identification R. Policy Changes S. Cancellations T. Loss Handling U. Appeals V. Mortgagee s Interest W.

6 Producer License Requirements X. Policy Distribution DIVISION II GENERAL rules A. Term B. Limits C. County Rating D. Zone Rating E. rules F. Policy Restrictions G. Primary (Non-Contributing) Insurance H. Improvements and Betterments I. Builder s Risk J. Valuation K. Minimum Premiums L.

7 Deductibles M. Policy Fee N. First Loss Scale Formula O. First Loss Scale Examples DIVISION III BINDER PROCEDURE A. Overview B. Originating Mortgage C. Ineligible Policy FORMS D. Minimum Requirements E. Not Eligible F. Fax Binder G. Binder Period H. Binder Request form DIVISION IV INTERNET PROCESSING PROCEDURES A. Agency sign-up C.

8 Benefits of Using eFeatures B. Online Features D. Common ePay Questions DIVISION V DWELLING PROGRAM A. Dwelling Eligibility B. Coverage form C. Replacement Cost Coverage D. Rating- Coverage A and C E. Rating - Coverage B F. Rating - Outdoor Property G. Loss of Use Coverage H. Increased Cost in Construction I. Mitigation Dwellings/Townhomes J. Mitigation Condo-Unit Owners K. Key Premiums L. Key Factor Table M.

9 Outdoor Property _____ South Carolina Wind & Hail underwriting association rules , rates , & Procedures MANUAL Table of Contents September 1, 2014 DIVISION VI MANUFACTURED HOME PROGRAM A. Manufactured Home Eligibility B. Modular Home Eligibility C. Coverage form D. Replacement Cost Coverage E. Rating - Coverage A and C F. Rating - Coverage B G. Rating - Outdoor Property H. Loss of Use Coverage I. Mitigation Manufactured Homes J.

10 Key Premiums K. Kay Factor Table L. Outdoor Property DIVISION VII COMMERCIAL PROGRAM A. Commercial Eligibility B. Coinsurance C. Construction Classification D. Condominiums E. Rating Procedure F. Loss of Business Income G. Builder s Risk H. Mitigation Program - Commercial I. rates J. Outdoor Property K.