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Old 10-27-2009, 03:17 PM
Elk Elk is offline
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Default South Caroina DOI and Rate Filings

I submitted my first homeowners rate filing to the SC DOI on Sept 1st. We are doing about a 7% base rate change along with some changes in deductible relativities. I didn't hear anything until Oct 2nd when they followed up with some very generic questions on the CAT model and wind mitigation. I replied the next business day. As of today, I've heard nothing further, except that about 10 days ago they said they'd get to it "shortly"? It's pretty stressful-others in the office want to know for sure since the effective date is planned for Jan 1st.

Is this typical of South Carolina? I am new to dealing with the state.

Last edited by Elk; 10-27-2009 at 03:37 PM..
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Old 10-27-2009, 03:20 PM
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MountainHawk MountainHawk is online now
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Originally Posted by Elk View Post
I submitted my first rate filing to the SC DOI on Sept 1st. We are doing about a 7% base rate change along with some changes in deductible relativities. I didn't hear anything until Oct 2nd when they followed up with some very generic questions on the CAT model and wind mitigation. I replied the next business day. As of today, I've heard nothing further, except that about 10 days ago they said they'd get to it "shortly"? It's pretty stressful-others in the office want to know for sure since the effective date is planned for Jan 1st.

Is this typical of South Carolina? I am new to dealing with the state.
If you got a reply within 30 days or so, consider that a win if you are asking for a rate increase in HO, particularly if it is weighted towards the coast. SC isn't as bad as some other states, but for hurricane prone states you should allot anywhere from 3 to 18 months for a rate increase to be approved.
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Old 10-28-2009, 04:22 AM
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I'm not familiar with Cat model filings. Can you deem the filing if they don't get back to you in a timely fashion? I don't recommend this approach as I know the DOI can retaliate with an audit. I'm just curious.
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Old 10-28-2009, 10:37 AM
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Originally Posted by Elk View Post
I submitted my first homeowners rate filing to the SC DOI on Sept 1st. We are doing about a 7% base rate change along with some changes in deductible relativities. I didn't hear anything until Oct 2nd when they followed up with some very generic questions on the CAT model and wind mitigation. I replied the next business day. As of today, I've heard nothing further, except that about 10 days ago they said they'd get to it "shortly"? It's pretty stressful-others in the office want to know for sure since the effective date is planned for Jan 1st.

Is this typical of South Carolina? I am new to dealing with the state.
I've never dealt with South Carolina but that sounds pretty common for a few of the states I deal with. Just hope that is their only round of objections.
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