South Carolina General Liability Insurance Profitability (2023)

A higher loss ratio means carriers paid out more of each premium dollar in claims, which tends to push South Carolina general liability rates up and thin the field of carriers competing for the business; a lower one signals a more profitable, more competitive market. With a 19.5% underwriting loss, South Carolina carriers relied on investment income to make the line work in 2023 — a sign of rate pressure ahead. Counting investment income, carriers earned a -6.0% profit on general liability insurance transactions in South Carolina in 2023 — NAIC's broadest profitability measure for the line. Either way, these are industry aggregates — your own general liability rate depends on your business, and the only way to see it is to compare filed rates and real quotes.

South Carolina's $1.0B in general liability premiums is the 26th-largest of the 51 states NAIC reports for the line. Across those states, loss ratios span from 104.1% in New Mexico — the toughest market for carriers — down to 29.5% in Montana, the most profitable; South Carolina's 75.7% places it 5th of 51. For buyers, a state near the top of that spread usually means firmer general liability pricing and fewer competing carriers, while a state near the bottom tends to run softer and more competitive. By premium, South Carolina is about 1.1% of the $94.1B national general liability market, and its loss-ratio rank places it in the toughest quartile of states for carrier profitability — context that shapes how aggressively carriers compete for South Carolina general liability business.

Getting General Liability coverage in South Carolina

See recent South Carolina rate filings on the South Carolina rate page, learn how General Liability works in our General Liability guide, see typical general liability costs, then compare real quotes for your business.