Who issues a certificate of authority in South Carolina?

In South Carolina, the Department of Insurance is the entity responsible for issuing a certificate of authority. This certificate allows an insurance company to operate within the state, ensuring that they comply with specific state regulations and requirements. The Department of Insurance evaluates the financial stability of the company and its ability to meet its policyholder obligations before granting this certificate. This process is essential for protecting consumers and maintaining trust in the insurance market.

The other entities listed do not have the authority to issue this certificate. The National Association of Insurance Commissioners (NAIC) is a collective organization that assists states in regulating the insurance industry but does not issue certificates itself. The Governor does not typically engage in administrative functions such as issuing certificates of authority for insurance companies. Similarly, the U.S. Attorney General is responsible for federal law enforcement and legal matters, not for regulating state insurance operations.