Consumer Advocate Eyeing Challenge to 0.3% Cut in Loss Costs

South Carolina Consumer Advocate Elliott F. Elam Jr. said Thursday he probably will file a challenge to the 0.3% cut in loss costs approved by State Insurance Director Scott Richardson last week."We don't know whether the overall decrease is big enough," Elam said in an interview. "The (state Insurance) department has had four months to look at this. So far we haven't seen a stitch of what the department looked at. We need more information."The National Council on Compensation Insurance (NCCI) last year recommended the rate cut following past filings for double-digit increases in loss ...