Governor Henry McMaster held a ceremony Wednesday to highlight a recently signed law designed to ease rising insurance costs for businesses, particularly those that sell alcohol like bars and restaurants.
The law provides these establishments with options and certain requirements to reduce their minimum insurance coverage. It also reforms personal injury lawsuit procedures, updating how fault and financial responsibility are assigned while maintaining full compensation for victims.
Despite the celebratory atmosphere, legislators cautioned that this legislation is just the beginning of a longer process. Senate Majority Leader Shane Massey noted, “Progress on important policy matters is often frustratingly slow and incremental,” calling the law a “small step” forward.
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