There are critical moments where the business community’s voice is integral to the future of a bill. Now is one of those times and we need your help.
The State Senate Judiciary Committee will be making a decision on whether or not to pass S.244 – The Tort Reform Bill. The Chamber and our region’s businesses need you to take action.
What You Can Do:
Contact the State Senate Judiciary Committee today. Tell them you support S.244 and urge them to pass this important reform.
Why the Chamber Supports S.244:
South Carolina’s current civil justice system is increasing the cost of doing business. The state’s broad liability laws and high damage awards lead to more lawsuits, higher insurance premiums and financial strain on businesses. This discourages new ventures and forces existing businesses to close or relocate to more business-friendly states.
If you’d like to get more informed on this subject, the U.S. Chamber of Commerce Institute for Legal Reform’s Tort Costs in America provides invaluable insights and data into the challenges brought about by rising tort costs across the country.
Download the Executive Summary
South Carolina’s tort costs are estimated to be $3,734 per household each year and the state ranks among the top 10 for highest tort costs as a percentage of GDP in the country.
S.244 – The Tort Reform Bill is our chance to address these issues head-on. By tackling the root causes of high insurance costs, this bill will provide much-needed relief to businesses.
Key Provisions of S.244:
- Ensures businesses and individuals are only accountable for their own actions without protecting “bad actors.”
- Reduces lawsuits, lowers insurance premiums and makes homeownership and construction more affordable.
- Helps prevent bar and restaurant closures by ensuring fair accountability in alcohol-related incidents.
- Establishes guidelines to prevent insurers from being pressured to settle cases prematurely, promoting fairer claim handling.
If you have any questions or need more information, please reach out to Bailey Vincett at bvincett@charlestonchamber.org.
Thank you for your support in moving this crucial bill forward!
