Illinois General Assembly - Bill Status for SB1521

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Bill Status of SB1521 100th General Assembly

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Short Description: INS CD-EXCESSIVE PREMIUM PAID

Senate Sponsors
Sen. Heather A. Steans

Last Action

Date	Chamber	Action
1/13/2015	Senate	Session Sine Die

Statutes Amended In Order of Appearance

215 ILCS 5/462b

from Ch. 73, par. 1065.9b

Synopsis As Introduced
Amends the Illinois Insurance Code in the Article concerning workers' compensation and employer's liability rates. Provides that if the application of incorrect classifications, payrolls, or any other factors of a rating system results in the payment by an insured of premiums in excess of the premiums that would have been paid utilizing the correct applications of classifications, payrolls, or other factors of a rating system, the insurer shall pay 5% interest on the excessive premium paid from the date of inception of the workers' compensation policy on which the excessive premium was paid through the date on which the insurer refunds the excessive premium paid. Provides that the Director of Insurance shall have the authority to award the interest. Effective immediately.

Actions

Date	Chamber	Action
2/13/2013	Senate	Filed with Secretary by Sen. Heather A. Steans
2/13/2013	Senate	First Reading
2/13/2013	Senate	Referred to Assignments
2/27/2013	Senate	Assigned to Labor and Commerce
3/6/2013	Senate	Postponed - Labor and Commerce
3/13/2013	Senate	To Subcommittee on Special Issues (LC)
3/22/2013	Senate	Rule 3-9(a) / Re-referred to Assignments
1/13/2015	Senate	Session Sine Die

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