Q1. A South Carolina insurer receives a property damage claim but discovers the insured failed to provide prompt notice of loss as required by the policy. What is the insurer’s right under South Carolina statutes?

• ○The insurer may deny the claim if the delay prejudiced the insurer's investigation.
• ○The insurer must pay the claim regardless of notice delay.
• ○The insurer can cancel the policy retroactively.
• ○The insurer must waive the notice requirement due to South Carolina law.