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What is a “South Carolina coastal captive insurance company?

April 26, 2017captive coastal COMPANY Insurance south carolina

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What is a “South Carolina coastal captive insurance company?

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A coastal captive insurance company is a company, as defined by Section 38-90-10(8), to address the specific issues of affordability and availability regarding wind and storm surge coverage in South Carolina. By statute, a coastal captive insurance company may only provide coverage against the perils of wind and storm surge.