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South Carolina legislature has recently approved a measure that will enable policyholders to transact with their insurers through electronic means.
A significant feature of the law, which was proposed as House Bill 3488, is the legal acknowledgement of e-signatures to validate electronic documents in online transactions, as stipulated by widely accepted conventions such as Esign and UETA.
The law will take effect on January 01, 2018.
Trade group Property and Casualty Insurers Association of America (PCI), welcomed the development as an expansion of consumer choice and a convenient option for accessing policy information through digital means.
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“There is a growing trend across the country to enable insurers to conduct all policyholder transactions over the internet with the consumer’s consent,” Oyango Snell, PCI state government relations counsel, said in the statement.
Among others, the new law will allow policyholders to renew or review their insurance policies; and receive their insurance bills or other notices through the internet as opposed to paper mail delivery, upon their choice.
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