South Carolina Code 58-9-2650. Liability insurance rates
Current as of: 2023 | Check for updates
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Terms Used In South Carolina Code 58-9-2650
- Communications service: means a telecommunications service, a broadband service, or both. See South Carolina Code 58-9-2610
- Government-owned communications service provider: means a state or local political subdivision, instrumentality of the State, person, or entity providing a communications service to the public for hire over a facility, operation, or system that is directly or indirectly owned by, operated by, or a financial benefit obtained by or derived from, an agency, instrumentality, or entity of the State or local government. See South Carolina Code 58-9-2610
- Tort: A civil wrong or breach of a duty to another person, as outlined by law. A very common tort is negligent operation of a motor vehicle that results in property damage and personal injury in an automobile accident.
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.