what does the state accident fund do in sc
Created in 1947 by an Act of the General Assembly [1947(45) 147], the State Accident Fund (formerly the State Workersâ Compensation Fund) is one of twenty-seven state sponsored workersâ compensation insurance funds. The majority of these funds were chartered to compensate for fluctuation in the workersâ compensation market. 1. The State Accident Fundâs mission statement is: Provide a cost effective guaranteed workersâ compensation market for state agencies, other government entities and, if required by the legislature, businesses in the private sector. The State Accident Fund is charged with the administration of the workersâ compensation program for all state agencies. Creation of the Fund centralized the administration of workersâ