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COLUMBIA, S.C.--State Sen. Gerald Malloy has introduced legislation in the South Carolina Legislature that would allow captives domiciled in the state to write primary workers compensation coverage.
The Democratic senator of Hartsville, S.C., said he introduced S.B. 0509 because South Carolina businesses pay high workers comp premiums and reform measures have been slow in coming.
His legislation would give self-insured employers an alternative, the senator said.Currently, South Carolina allows captives to write workers comp reinsurance or to cover the deductible on large-deductible workers comp plans, said a spokeswoman for the South Carolina Department of Insurance.