South Carolina § 58-9-2650 - Liability insurance rates.

§ 58-9-2650. Liability insurance rates.

The Department of Insurance must determine the South Carolina average market rate for private sector liability insurance for communications operations. To have government-owned and nongovernment-owned communications service providers in the same competitive position, to the extent possible, the rate paid for liability insurance for government-owned communications operations must be equal to or greater than the average market rate for private sector liability insurance in South Carolina as determined by the Department of Insurance. To the extent that any government-owned communications service provider pays less than the average market rate for this insurance established by the Department of Insurance, the difference must be remitted by the government-owned communications service provider to the general fund of the government owning that communications service provider. However, nothing in this section may be construed to mean a government-owned communications provider is not covered by the South Carolina Tort Claims Act.

HISTORY: 2002 Act No. 360, SECTION 1A, eff July 1, 2002; 2012 Act No. 284, SECTION 8, eff June 29, 2012.

Editor's Note

2012 Act No. 284, SECTION 11, provides as follows:

"The provisions of this act do not expand, diminish, or otherwise affect the provisions of Chapter 151, Title 59 regarding the South Carolina LightRail Consortium"