(Published October 21, 2016) Recently, South Carolina lifted the restriction on punitive damages exclusions in all liability policies other than automobile liability policies. The DOI issued Bulletin 16-09 to discuss the change in position, based on state law and court findings. South Carolina law contains only one statutory provision regarding punitive damages, and that is found in the definition of “damages” in automobile liability policies.
(Published October 18, 2016) Due to the destruction caused by Hurricane Mathew that struck parts of South Carolina beginning on October 4, 2016, the President has declared several counties in South Carolina a federal disaster area. As a result, individuals that reside in or have a business located in any of the affected counties may qualify for tax relief.