Premium Service Company
Title 38, Chapter 39 of the South Carolina Code of Laws defines the regulations and requirements for Premium Service Companies. Section 38-39-10 provides a detailed list of those exempt from the licensing requirements.
- Application and license fee ($1,000.00) must be completed on NIPR.
- There are additional questions and attachments that need to be sent to the Department of Insurance for the application to be completed. The following will need to be sent to the email for the Special Licensing team.
- Premium Service Company Initial Application Checklist.
- Certificate of Existence from the SC Secretary of State
- Financial Requirement as described in SC Code Law 38-39-30 (Surety Bond or Certificate of Deposit)
- Financial statement from the last two years
- Additional Questionnaire
- Biographical Affidavit of all Officers and Directors
- Rates and Forms
- An Annual Statement must be provided via email to the Department annually by March 1st. (There is no fee to submit this document).
The renewal application and fee of $1000 is due between December 1 to March 1 on every even year.
Here is a navigation tool for getting through NIPR to renew your license.
- Renewal application and fee ($1,000.00) must be completed on NIPR between December 1 to March 1 on every even year.
- There are additional requirements that must be sent to the Department of Insurance to go with the online application. Send the additional requirements and attachments to the email for the Special Licensing Team.
- Renewal Application Checklist.
- Additional Renewal Questionnaire
- Annual Statement of previous year
- Financial Requirement as described in SC Code Law 38-39-30 (Surety bond or Certificate of Deposit)
- If any changes to the directors/officers, please complete new Biographical Affidavits.
- If any changes to the Rates and Forms, please provide copies.
The following are exempted from applying for an insurance premium service company license in South Carolina:
- Surrender request