South Carolina is facing a crisis in the alcohol industry as multiple bars and music venues are being forced to close due to high liquor liability rates. The issue dates back to 2017 when a law was passed requiring businesses with liquor licenses to carry at least a million dollars’ worth of coverage. This legislation was prompted by an incident in which a drunk driver without insurance left a bar, which also didn’t have insurance, and caused a serious accident. While the intention was to protect against such incidents, the law has had unintended consequences, driving up prices and causing some businesses to shut down.
One such Business, Golden Grove Farm & Brew, has announced that it will be taking a hiatus due to the high liquor liability rates. The company plans to only manufacture and sell beer through distribution after their current insurance policy ends on April 1. This announcement comes as South Carolina lawmakers have begun discussions on how to address the problems with liquor liability and protect the people of the state.
The issue is complex, with experts and professionals testifying at a recent House Judiciary Subcommittee meeting in Columbia. Concerns were raised about the lack of competition between insurance providers, which has led to skyrocketing prices and limited options for businesses. On the other side of the issue, the victims of drunk driving are also impacted, and there is a need to balance the interests of all stakeholders.
The subcommittee is expected to continue meeting in the near future to find a solution that addresses the challenges of liquor liability while protecting the interests of businesses and the safety of the public. It is clear that this is a complex issue with far-reaching implications, and finding a resolution will require careful consideration and input from all parties involved. As South Carolina grapples with this crisis, businesses and lawmakers are working together to find a path forward.
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