An important public hearing on the coastal property insurance market in South Carolina will be held on Thursday, May 9, 2013, at 5:30 p.m. in Buyer Auditorium, 2nd Floor of the Mark Clark Hall on the campus of The Citadel.
There will be an opportunity to discuss and offer input concerning the status of the coastal property insurance market. This hearing is to be conducted by the South Carolina Department of Insurance.
There are two companion bills currently pending in in the South Carolina General Assembly. Senator Chip Campsen and Representative Peter McCoy are co-sponsors of these bills in their respective assemblies.
These bills indicate a desire to strengthen the state’s coastal insurance market by increasing competition, affordability, and transparency. The bills emphasize a market-oriented approach to coastal insurance, and de-emphasize massive state intervention in the issue.