Loading...
Status report on the South Carolina commercial liability insurance market
South Carolina Department of Insurance
South Carolina Department of Insurance
Abstract
In February 2019, the South Carolina Department of Insurance (SCDOI) received a request from staff of the Senate Judiciary Committee (the Committee) for information on South Carolina’s liquor liability insurance market. In response, the SCDOI issued a mandatory data call to the insurance industry in accordance with S.C. Code of Laws Section 38-13-160. That data call was largely framed after those conducted previously by the Iowa Insurance Division and the Missouri Department of Insurance; it requested detailed information on coverage written and claims payments from 2016 to 2018. The SCDOI also contacted insurance agents and brokers to obtain anecdotal information to supplement the data obtained and issued a report on the findings later that year. In 2023, the Committee expanded its request for information to include additional sub-lines of the commercial liability marketplace. In response, the SCDOI issued an expanded mandatory data call in June 2023. This data call was designed by SCDOI staff with the goal of collecting data more commonly found in traditional actuarial analyses, including premiums, losses, defense and cost containment expenses, claim counts, and subrogation recoveries. As before, industry personnel were consulted for their observations.
Issue Date
2024-01-05
Keywords
Liability insurance--South Carolina, Business insurance--South Carolina
Type
Rights
Records, documents, and information made available by the agencies of the South Carolina state government or its subdivisions are the property of the people of the state of South Carolina. Therefore, according to U.S. copyright law, the South Carolina State Library considers these items to be in the public domain (see Title 17, U.S.C.).
Digitization Specifications
This South Carolina State Document was either saved from a document available publicly online in PDF format or converted to PDF using Adobe Acrobat DC.