02/14/2025
If you think the current tort reform bill is only about protecting bar and restaurant owners, take the time and read the proposed bill.
If you think insurance companies are victims of frivolous suits, lawyers and fraudulent claims, look at their quarterly profits they report.
If you think your premiums are going up because insurance companies are having to do what is necessary to survive, look at their market.
If you want a recent example of how corrupt the state regulated insurance industry is in our state, then take a moment and look at United Property and Casualty Insurance Company.
Learn what bad faith means.
Learn how insurance companies take advantage of the South Carolina Property and Casualty Guaranty Association to avoid bad faith, at the tax payers expense.
Learn how insurance companies can dump claims, file bankruptcy, pull out of our state and return to our state under the same name, same logo, and issue policies months after they pulled out, dumped claims and left their policy holders high and dry for the tax payer to fund. It’s wrong and flat out should be illegal.
Bottom line is, insurance companies are protected far more than people. They have a safety net that essentially guarantees they will be ok, and their executives walk away fat and happy. Tort reform, specifically the bill before our legislature, is not about helping our food and beverage industry. It’s allows for further protections for essentially all markets insurance companies do business in. Nobody likes paying for insurance and when you need your insurance to step up, seldom does anyone have a good experience asking them to meet their end of the bargain. They conduct themselves the way they do because they know they can get away with it. “Tort reform” is a brand designed by the insurance industry that they stamp on legislation that is actually deregulation and removal of consumer protections for the people. Don’t look at the last year, look at the last several decades of the trajectory of insurance industry profits and your premiums. They have both gone up. What they are trying to sell you does not add up.