Download This Version in Microsoft Word format
TO AMEND SECTION 38-73-515, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO WORKERS' COMPENSATION INSURANCE DEDUCTIBLES, SO AS TO INCREASE THE MAXIMUM FROM TWO THOUSAND FIVE HUNDRED DOLLARS TO FIVE THOUSAND DOLLARS FOR EACH COMPENSABLE CLAIM.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 38-73-515(A) of the 1976 Code is amended to read:
"(A) Each insurer issuing a policy of workers' compensation insurance shall offer, as a part of the policy or as an optional endorsement to the policy, deductibles optional to the policyholder for benefits payable under Title 42. Deductible amounts offered must be disclosed fully to the prospective policyholder in writing in the amount of one hundred dollars, two hundred dollars, three hundred dollars, four hundred dollars, five hundred dollars, or increments of five hundred dollars up to a maximum of two thousand five hundred five thousand dollars for each compensable claim. The policyholder exercising the deductible option shall choose only one deductible amount."
SECTION 2. This act takes effect upon approval by the Governor.
This web page was last updated on Thursday, June 25, 2009 at 10:01 A.M.