2023 status report on the South Carolina workers' compensation insurance market

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South Carolina Insurance Department
Issue Date
2023-12-29
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Workers' compensation--South Carolina
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Abstract
Workers’ compensation laws were enacted to benefit both injured workers and employers: workers receive partial - as well as prompt, predictable, and certain - compensation without regard to fault in exchange for relinquishing their right to sue their employers in tort for damages. The South Carolina Workers’ Compensation Commission reports that insurance companies provide 70% of South Carolina’s workers’ compensation coverage. The remaining coverage is provided through group self-insured funds (such as the State Accident Fund) and individual self-insured employers. Both types of self-insureds share many of the same costs and expenses as an insurance company. Insurance company rates are the focus of this report, but differences will be noted, as appropriate.
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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.).
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