South Carolina DOR Give Guidance On Required Coverage
For those that have been following the upcoming legislation change in South Carolina regarding Liquor Liability Insurance, you may have had a number of questions. One of those questions was answered today.
The Question: What happens to insurance policies that have coverage levels of $1,000,000 aggregate and LESS THAN 50% per occurrence coverage starting January 1st?
Answer From SC DOR:
“I understand and appreciate your concerns. Per H. 3430 we are required by law on January 1, 2026, to treat any policies that do not have 50% of aggregate in per occurrence coverage as invalid. It will not, however, alert us until either a policy change is made, the business renews its license or mitigating factors are applied for. Once a policy is deemed invalid, we are required to send out a notice of Failure to Maintain notifying you that your license will be suspended in 90 days if not made compliant. It is our hope that this time frame will allow for any necessary changes. Please let me know if you have any further questions.”
Disclaimer: WE ARE NOT AN ATTORNEY. We believe what this means is that SC DOR will not necessarily “enforce” the legislation change until there is an instance or event in which coverage will be verified. However, you should get in front of this thing by actively searching for a policy now that does meet those requirements.
All of Ragnar Hospitality Insurance Company policies meet the new standard of coverage starting January 1, 2026. To get started on a quote for your business