Legislative Audit Council Request: Workers’ Compensation Commission
The General Assembly passed workers’ compensation reform legislation that was signed into law on June 25, 2007.
The legislation addressed several anti-business court decisions, stream-lined the appellate process, and phased out the Second Injury Fund.
The 2007 law did not address objective standards for awards or regulate attorneys’ fees.
While the reforms appear to have stabilized workers’ comp premium rates and prevented another double-digit increase, South Carolina’s workers’ comp premiums are still among the highest in the nation.
In October 2014, the Oregon Workers’ Compensation Premium Rate Ranking was released. South Carolina had the 17th highest premiums in the nation. In the Small Business Survival Index released in February 2016, workers’ comp costs for SC small businesses were tied for the 34th highest in the US. In both surveys, North Carolina, Georgia, Tennessee and Virginia all had better rankings than South Carolina.