In keeping with state law, the South Carolina Department of Insurance is again asking carriers to submit extensive data on commercial liabilty and liquor liability coverage in the state.
The data should be submitted by Aug. 31 and should include the number of new policies written, premiums earned, defense costs, subrogation and other information, not only in South Carolina but in other Southeastern states, according to a bulletin posted this week by the DOI.
The data should be submitted on the Excel spreadsheet provided by the department, available here.
The data should cover calendar years 2015 through 2024, so it will not show any impact that may result from the liquor liability and tort reform bill that was approved by state lawmakers in May of this year. That bill, House Bill 3430, lowers the $1 million liquor liability insurance minimum requirement for bars and restaurants that comply with new training and hours-of-service incentives.
Drinking establishments across the state have complained for years that a 2017 law requiring the $1 million minimum made insurance policies too costly and forced multiple venues to close down. A 2023 DOI report, based on data from insurers, found that the liquor liability market in the state has been “extremely unprofitable” for carriers.
Topics
Data Driven
Liability
South Carolina
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