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S. 499
STATUS INFORMATION
General Bill
Sponsors: Senators Reese and Ford
Document Path: l:\council\bills\bbm\9558sl03.doc
Companion/Similar bill(s): 507
Introduced in the Senate on March 19, 2003
Currently residing in the Senate Committee on Judiciary
Summary: Workers' compensation, insurance deductibles, maximum compensation claim
HISTORY OF LEGISLATIVE ACTIONS
Date Body Action Description with journal page number ------------------------------------------------------------------------------- 3/19/2003 Senate Introduced and read first time SJ-6 3/19/2003 Senate Referred to Committee on Judiciary SJ-6
View the latest legislative information at the LPITS web site
VERSIONS OF THIS BILL
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.
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