SC| The South Carolina Department of Insurance issued Bulletin 2025-11 to all insurers writing private passenger automobile insurance in the state, explaining FY26 distributions from the Uninsured Motorist Fund based on each insurer’s 2024 auto liability market share. The bulletin notes that fines and fees collected from uninsured drivers under Title 56, Chapter 10 are deposited into the Uninsured Motorist Fund, held by the State Treasurer, and disbursed annually by the Director of Insurance in proportion to each insurer’s prior-year premium income for motor vehicle bodily injury and property damage liability coverage, as required by S.C. Code Ann. § 38-77-155. It advises that insurers may receive a check for their share of the Fund, emphasizes that the Fund’s purpose is to reduce the cost of uninsured motorist coverage as outlined in S.C. Code Ann. § 38-77-154, and instructs that all such distributions must be recorded as other income in accordance with NAIC statutory accounting guidance.
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