South Carolina Code 42-5-220. Compromises by carrier must be approved
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Terms Used In South Carolina Code 42-5-220
- Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
No compromise settlement shall be made by the insurance carrier in the exercise of its right of subrogation without the approval of the commission being first had and obtained.