Comp Loss

In 2006, South Carolina’s workers’ compensation premiums grew more than 18 percent and the state has ranked second in the nation in terms of how quickly rates have increased. So in 2007, South Carolina enacted workers’ compensation reforms. Legislation shuttered the second injury fund, closed loopholes created by various court rulings and streamlined the appellate process. While most special interests were pleased, insurers found it disappointing because it did not go far enough in requiring that injured worker awards be based on objective standards. Gov. Mark Sanford tried to force those standards through an executive order but the workers’ compensation commission unanimously rejected his order.

Topics Profit Loss Workers' Compensation