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Governor Signs Landmark Tort Reform, Liquor Liability Bill Into Law

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Gov. Henry McMaster and Lt. Gov. Pamela S. Evette were joined May 28, 2025, by members of the General Assembly and the business community for a ceremonial bill signing of H. 3430, Tort Reform and Liquor Liability.

Officials said the commonsense bill enacts significant reforms to South Carolina’s joint and several liability laws, addresses rising insurance costs for businesses, and establishes new safety and insurance requirements for establishments that serve alcohol.

“In March, we called on the General Assembly to take bold action on tort reform by finding a commonsense solution that provides accountability, certainty, and just compensation without damaging our economy. Today, we gathered back together to celebrate this great victory," McMaster said.

The governor added, "Getting to this day was not easy, at times disagreements and obstacles seemed impossible to overcome, rhetoric was sharp, emotions ran hot, and tempers flared, but with a spirit and determination as indomitable as has ever been seen in this Capitol, our legislative leaders persevered."

The new law allows defendants in civil cases to have nonparty-tortfeasors (individuals or entities not named in the lawsuit) included on the verdict form for the jury to consider when assigning fault.

If the jury finds that a nonparty’s conduct contributed to the plaintiff’s injury, that nonparty may be apportioned a percentage of fault, reducing the liability of the defendant.

For incidents involving DUIs, a business cannot be held liable for more than 50 percent of the plaintiff’s damages, as opposed to 100 percent under the previous law.

"It is important for us to maintain a business-friendly climate and ensure that our actions also address that. At no time should the actions of government put businesses out of business," said Senate President Thomas Alexander. "It has not been an easy road, but by working together, we can move South Carolina forward."

Under the law, anyone who sells alcohol after 5:00 PM for on-premises consumption must have a liquor liability or general liability insurance policy with an annual aggregate limit of $1 million.

Businesses may reduce their insurance coverage requirement by completing one or more of the following risk mitigation measures:

* Stop selling alcohol at midnight - $250,000 reduction

* Have all employees complete the alcohol server training within 60 days of employment - $100,000 reduction

* Have less than 40 percent of total sales be from alcohol - $100,000 reduction

* Use a digital forensic identification system between 12:00 AM and 4:00 AM - $100,000 reduction

* Be a 501(c)(3) organization or hosting an event where a special event license is obtained - $500,000 reduction.

"We needed a bill that protects South Carolina businesses while also protecting victims who should receive compensation, and I believe we accomplished that," said Speaker of the House Murrell Smith. "I am proud to lead the House in finding a commonsense solution to this issue. Today is a great day not only for the citizens of South Carolina, but also for the businesses and those who use the court system."

The law also creates a mandatory alcohol server training program, requiring those who serve alcohol to complete a certified course recognized by the South Carolina Department of Revenue (SCDOR).

Topics include state alcohol laws, liquor liability, identifying overserved individuals, concealed weapons and alcohol, and identifying fake IDs. Servers will be issued alcohol-server certificates by SCDOR.

"Progress on important policy matters is often slow but today is a recognition of a step toward a fair civil justice system," said Senate Majority Leader Shane Massey. "The governor’s support was instrumental. If it had not been for him being willing to come out and take the steps to be in front of everybody on this issue, it would not have happened."

"The legal system in our state should reflect our South Carolina values — of goodness and fairness — and lay a reliable foundation for economic development,” said Sara Hazzard, President and CEO of the South Carolina Manufacturers Alliance.

She added, “Businesses exposed to excessive liability face higher costs that make it more difficult to invest in our employees, our businesses, and our communities. But when certainty, fairness and goodness are anchors of our civil justice system, families, businesses and communities can thrive.”

Mikro-Technik Selects McCormick County For First North American Operation

Mikro-Technik, a natural fiber manufacturer, selected McCormick County to establish its first North American operation.

The company’s $3.2 million investment will create 27 jobs, according to the South Carolina Department of Commerce.

Founded in Germany in 1954, Mikro-Technik specializes in the processing of cellulose fiber into additives for the food and pet food industries.

The company’s fibers are a renewable raw material used as a functional ingredient in food applications.

Mikro-Technik is leasing and upfitting the facility located at 8463 Highway 28/221 in Plum Branch. The new operation will expand the company’s production capacity for customers in the U.S. and Canada.

Operations are expected to be online in the third quarter of 2025. Individuals interested in joining Mikro-Technik should go to the company’s careers page.

The state’s Coordinating Council for Economic Development awarded a $350,000 Rural Infrastructure Fund grant to McCormick County to assist with the costs of building improvements.

FNB Appoints Christopher Chan as Chief Strategy Officer

First National Bank, the largest subsidiary of F.N.B. Corporation (NYSE: FNB), said it has promoted Christopher "Chris" Chan to executive vice president and chief strategy officer.

Previously the bank’s director of Corporate Strategy, Chan now reports directly to Vincent J. Delie, Jr., chairman, president and chief executive officer of F.N.B. Corporation and First National Bank.

In addition to serving as the head of FNB's Corporate Strategy and Investor Relations areas, Chan now also largely is responsible for advancing FNB's Clicks-to-Bricks digital strategy, with oversight of the company's Digital Channels, eCommerce, Data Science and Data Management and Governance teams.

Officials said the new organizational structure further facilitates and streamlines the utilization of data-driven analyses, forecasting models, financial information and macroeconomic factors to position the company for ongoing success.

"Our organizational structure is unique and aligns with the new banking model where AI, data analytics and digital technology play an integral role in our Company's operations and ongoing success," Delie said in a statement.

He added, "Chris has overseen multiple strategic initiatives and delivered significant results that benefit our teams, customers and shareholders. Expanding his role to more fully integrate our technology investment and digital capabilities is a natural progression that further enhances the role innovation plays in FNB's continued growth."

Officials said the organizational realignment serves to efficiently scale development, data consumption, business insights, lead generation and client personalization across FNB's digital ecosystem, which revolves around its proprietary eStore.

As part of its broader efforts, FNB will add to Chan's team a director of AI and Innovation who will focus on enterprise AI implementation and fintech partnerships.

With previous experience at Balyasny Asset Management in Houston, Texas, Citadel Global Equities in San Francisco and Morgan Stanley's New York City Financial Institutions Group, Chan has served at FNB for more than five years.

He earned his bachelor’s degree in economics from Dartmouth College.

F.N.B. Corporation (NYSE: FNB), headquartered in Pittsburgh, Pennsylvania, is a diversified financial services company operating in seven states and the District of Columbia.

FNB's market coverage spans several major metropolitan areas, including: Pittsburgh, Pennsylvania; Baltimore, Maryland; Cleveland, Ohio; Washington, D.C.; Charlotte, Raleigh, Durham and the Piedmont Triad (Winston-Salem, Greensboro and High Point) in North Carolina; and Charleston, South Carolina.

The company has total assets of $49 billion and approximately 350 banking offices throughout Pennsylvania, Ohio, Maryland, West Virginia, North Carolina, South Carolina, Washington, D.C. and Virginia.

BofA Report: 60 Percent of Homeowners, Prospective Buyers Uncertain About the Housing Market - A Three-Year High

Uncertainty among current homeowners and prospective buyers is at a three-year high, with 60 percent saying they can't tell whether now is a good time to buy a home or not, compared to 48 percent two years ago, according to the latest Bank of America Homebuyer Insights Report, released in coordination with Bank of America Institute's latest On the move analysis.

Despite this, 52 percent of prospective homebuyers are optimistic about the state of the homebuying market, saying it's better now than it was a year ago. Three out of four (75 percent) expect home prices and interest rates to fall and are waiting until then to buy a new home, up from 62 percent in 2023.

"With so many factors impacting the homebuying market, prospective buyers and current homeowners are left wondering what it all means for them," says Matt Vernon, Head of Consumer Lending at Bank of America. "As our research shows, a majority of buyers feel the market is headed in the right direction, but many are still planning to wait for more favorable conditions before they decide to take action."

Gen Z compromising in order to buy

The new research also reveals that despite financial hurdles, the dream of homeownership remains a powerful motivator for both Gen Z and Millennials, driving them to make sacrifices in the present and prioritize the long-term financial security a home can provide.

For Gen Z and Millennials, three out of every four current homeowners say owning a home is a milestone achievement.

The 2025 data shows:

30 percent of Gen Z homeowners reported that they paid for their down payment by taking on an extra job, compared to 28 percent in 2024 and 24 percent in 2023.

22 percent of Gen Z homeowners reported that they purchased their home with siblings, compared to 12 percent in 2024 and 4 percent in 2023.

34 percent of Gen Z prospective homebuyers would consider living with family or friends while waiting to purchase a home.

21 percent of Gen Z prospective homebuyers say they plan to pay for their down payment with a loan from parents or family, compared to just 15 percent of the general population who say the same. Among all prospective homebuyers, this number is up from 12 percent in 2024 and 9 percent in 2023.

"Even with the challenges they face, younger generations still understand the long-term value owning a home offers them and many are doing what it takes to get there," says Vernon. "They are finding creative ways to afford down payments and working hard to improve their financial futures."

Severe weather is top of mind for homebuyers

62 percent of current homeowners and prospective buyers are concerned about the impact of severe weather and natural disasters when it comes to homeownership, and 73 percent feel it is important to buy in areas where there is lower risk of these events occurring.

Many (38 percent) have changed their preferred home purchasing location due to the risk of severe weather in the area.

Among current homeowners, nearly a quarter (23 percent) have personally experienced property damage or loss in the last 5 years due to severe weather events.

65 percent of current homeowners are taking measures to prepare their home for the risk of severe weather.

Sparks Research conducted a national online survey on behalf of Bank of America between March 20 and April 22, 2025.

A total of 2,000 surveys (1000 homeowners / 1000 renters) were completed with adults 18 years old or older, who make or share in household financial decisions, and who currently own a home/previously owned a home or plan to own a home in the future.

The margin of error is +/- 2.2 percent at the 95 percent confidence level. Select questions allowed respondents to choose more than one answer, resulting in responses that may equate to more than 100 percent.

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