Requires the South Carolina Health Insurance Pool to calculate the standard risk rate for major medical expense coverage based on the standard rate for individuals used by the five largest insurers in South Carolina that issue comparable coverage; Requires the Pool to establish the standard risk rate by applying reasonable actuarial techniques to estimated experience and coverage expenses if five insurers do not offer comparable coverage; Requires the Pool to set rates at 200% of the rates for individual standard risks; Requires the Pool to submit rates to the Director of the Department of Insurance for their approval.