Janette Buchanan and Shana Smallwood

Summary

The South Carolina Supreme Court affirmed the Court of Appeals’ construction of the South Carolina Property and Casualty Insurance Guaranty Association Act, holding that settlement amounts are offset from the total damages claimed, not from the statutory $300,000 cap, and therefore the Guaranty must pay the full statutory limit. The Court found the statutory language ambiguous but adopted the interpretation that best accords with legislative intent.