SECTION 2. Section 387200(F) of the 1976 Code is amended to read: This section applies to all new policies issued with an “(F) effective date after December 31, 2007.” SECTION 3. A. Section 3875485(C)(4) of the 1976 Code is amended to read: department shall use its best efforts to obtain grants or funds from the federal government to supplement the financial resources of the program. In addition to state appropriations, if any, this program must be implemented by the department through the use of the premium taxes due to this State by the South Carolina Wind and Hail Underwriting Association, and one percent of the premium taxes due to this State by brokers placing property insurance within the eligible surplus lines market and one two percent of the premium taxes collected annually and remitted to the Department of Insurance by insurers licensed to do business in this State.” B. The provisions of this SECTION are applicable to premium taxes due and payable on or after July 1, 2014. SECTION 4. A. Section 3875755 of the 1976 Code is amended to read: (A) All insurers, at the issuance of a new “Section 3875755. policy and at each renewal, clearly shall notify the applicant or policyholder of a personal lines residential property insurance policy of the availability and the range of each premium discount, credit, other rate differential, or reduction in deductibles for properties on which fixtures or construction techniques demonstrated to reduce the amount of loss in a windstorm have been installed or implemented, including information related to catastrophe savings accounts. The notice must describe generally what measures the policyholders may take to reduce their windstorm premium. (B)(1) All insurers, at the issuance of a new policy and at each renewal, shall notify the applicant or policyholder of a personal lines residential property insurance policy of the following: (a) whether or not the insured has coverage for flood or mold. The disclosure shall also state that insurance is available
SECTION 2. Section 387200(F) of the 1976 Code is amended to read: “(F) This section applies to all new policies issued with an effective date after December 31, 2007.” SECTION 3. A. Section 3875485(C)(4) of the 1976 Code is amended to read: department shall use its best efforts to obtain grants or funds from the federal government to supplement the financial resources of the program. In addition to state appropriations, if any, this program must be implemented by the department through the use of the premium taxes due to this State by the South Carolina Wind and Hail Underwriting Association, and one percent of the premium taxes due to this State by brokers placing property insurance within the eligible surplus lines market and one two percent of the premium taxes collected annually and remitted to the Department of Insurance by insurers licensed to do business in this State.” B. The provisions of this SECTION are applicable to premium taxes due and payable on or after July 1, 2014. SECTION 4. A. Section 3875755 of the 1976 Code is amended to read: “Section 3875755. (A) All insurers, at the issuance of a new policy and at each renewal, clearly shall notify the applicant or policyholder of a personal lines residential property insurance policy of the availability and the range of each premium discount, credit, other rate differential, or reduction in deductibles for properties on which fixtures or construction techniques demonstrated to reduce the amount of loss in a windstorm have been installed or implemented, including information related to catastrophe savings accounts. The notice must describe generally what measures the policyholders may take to reduce their windstorm premium. (B)(1) All insurers, at the issuance of a new policy and at each renewal, shall notify the applicant or policyholder of a personal lines residential property insurance policy of the following: (a) whether or not the insured has coverage for flood or mold. The disclosure shall also state that insurance is available
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