The Department of Insurance must determine the South Carolina average market rate for private sector liability insurance for telecommunications operations. In order to have government-owned and nongovernment-owned telecommunications service providers in the same competitive position, to the extent possible, the rate paid for liability insurance for government-owned telecommunications operations must be equal to or greater than the average market rate for private sector liability insurance in South Carolina as determined by the Department of Insurance. To the extent that any government-owned telecommunications service provider pays less than the average market rate for this insurance established by the Department of Insurance, the difference shall be remitted by the government-owned telecommunications service provider to the general fund of the government owning the telecommunications provider. Provided, however, nothing in this section shall be construed to mean that government-owned telecommunication providers are not covered by the South Carolina Tort Claims Act.

HISTORY: 2002 Act No. 360, Section 1A, eff July 1, 2002.