A recent ruling from South Carolina's highest court has general contractors throughout the state worried that they could be liable for paying potentially huge financial damages that their insurers traditionally covered.
Property owners who sue builders for faulty workmanship -- such as sloppily installed windows, an improperly poured concrete foundation or a poorly sealed building exterior -- can be awarded generous settlements from the court system.
Insurance carriers usually pay that money on behalf of builders through a common type of policy called commercial general liability. But the S.C. Supreme Court shifted that responsibility to general contractors on Jan. 7 when it ruled on a 10-year-old case about a poorly built Myrtle Beach condominium development.
ATTENTION, SC residents!
Builders are already lobbying state legislators for a law to reverse this ruling.
Write your state legislators TODAY!
Tell them you want a RECORDED (NOT secret) vote.
2/8/11 It didn't take long!