South Carolina § 38-9-190 - Loss and claim reserves.
Full text of South Carolina South Carolina Code of Laws § 38-9-190 — Loss and claim reserves., with citation guidance and answers to common questions.
§ 38-9-190. Loss and claim reserves.
A company authorized to transact insurance in this State shall maintain reserves in an amount estimated in the aggregate as being sufficient to provide for the payment of all losses or claims arising by the date of an annual or other statement, whether reported or unreported, which are unpaid as of that date and for which the insurer may be liable and also reserves in an amount estimated to provide for the expenses of adjustment or settlement of these claims.
The reserves for unpaid losses and loss expenses under policies of personal injury liability insurance, employer's liability insurance, and workers' compensation insurance must be calculated in accordance with regulations the department prescribes. A company authorized to write these kinds of insurance shall file with its annual statement schedules of its experience in the form the director or designee requires.
Credit for reinsurance is allowed a ceding insurer as an asset or a deduction from reserves required by this section only as provided in Section 38-9-200 or 38-9-210.
HISTORY: Former 1976 Code SECTION 38-9-190 [1947 (45) 322; 1948 (45) 1734; 1952 Code SECTION 37-154; 1962 Code SECTION 37-154] recodified as SECTION 38-75-20 by 1987 Act No. 155, SECTION 1; Former 1976 Code SECTION 38-5-780 [1947 (45) 322; 1948 (45) 1734; 1949 (46) 600; 1952 Code SECTION 37-189; 1956 (49) 2021; 1958 (50) 1608; 1962 Code SECTION 37-189; 1971 (57) 310] recodified as SECTION 38-9-190 by 1987 Act No. 155, SECTION 1; 1991 Act No. 13, SECTION 10; 1993 Act No. 181, SECTION 535.
Source: official South Carolina text · Last verified 2026-08-27
Frequently Asked Questions About South Carolina § 38-9-190
What does South Carolina Code of Laws § 38-9-190 cover?
Section 38-9-190 ("Loss and claim reserves.") is part of the South Carolina Code of Laws, the codified statutory law of South Carolina. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite South Carolina § 38-9-190?
A common citation format is "South Carolina Code of Laws § 38-9-190" (South Carolina). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of South Carolina law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the South Carolina official source linked on this page or consult a licensed South Carolina attorney.
How does South Carolina § 38-9-190 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in South Carolina can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in South Carolina.