South Carolina H4087 regulates liquor liability insurance, requiring risk-based pricing and establishing a state-administered fund for high-risk.

South Carolina H4087 mandates insurers to establish risk-based pricing for liquor liability insurance, incorporating factors like claims history and responsible service training. The bill also establishes a Liquor Liability Insurance Fund to provide coverage for high-risk establishments. Insurers must submit annual reports to the South Carolina Department of Insurance, detailing premium calculations and claims data. The bill further outlines a tax credit for insurers entering the market and requires annual safety audits for establishments to qualify for coverage.

South Carolina H4087 regulates liquor liability insurance, requiring risk-based pricing and establishing a state-administered fund for high-risk.

South Carolina H4087 mandates insurers to establish risk-based pricing for liquor liability insurance, incorporating factors like claims history and responsible service training. The bill also establishes a Liquor Liability Insurance Fund to provide coverage for high-risk establishments. Insurers must submit annual reports to the South Carolina Department of Insurance, detailing premium calculations and claims data. The bill further outlines a tax credit for insurers entering the market and requires annual safety audits for establishments to qualify for coverage.