What type of insurance requires a Certificate of Authority to conduct business?

In South Carolina, and indeed in most states, all types of insurance, including auto, life, and health insurance, require a Certificate of Authority to lawfully conduct business. This certificate is issued by the state’s insurance department and signifies that the insurer has met all the necessary regulatory and financial requirements to operate in that state.

Obtaining this Certificate is crucial because it ensures that the insurance company is licensed and regulated, which protects consumers by ensuring the company follows state laws regarding financial stability and ethical marketing practices. Each type of insurance operates under this mandate because they collectively contribute to consumer protection standards and ensure that insurers are accountable for their commitments. Thus, the correct answer encompasses all types of insurance, as they all require this regulatory approval to function legally within South Carolina.