HB1075sam001 93RD GENERAL ASSEMBLY

Sen. John J. Cullerton

Filed: 5/11/2004

09300HB1075sam001 LRB093 05509 AMC 50510 a

AMENDMENT TO HOUSE BILL 1075

AMENDMENT NO. ______. Amend House Bill 1075 by replacing everything after the enacting clause with the following:

"Section 5. The Illinois Insurance Code is amended by adding Section 155.42 as follows:

(215 ILCS 5/155.42 new)

Sec. 155.42. Arbitration of automobile physical damage claims. An insurer that amends, delivers, issues, or renews a policy of automobile insurance, as defined in Section 143.13, must arbitrate and settle all motor vehicle physical damage claims between the insurer and another insurer in accordance with an automobile subrogation program sponsored by the intercompany arbitration organization chosen by the insurer. Any arbitration decision shall be binding for the amount of damages not exceeding $5,000.

Section 99. Effective date. This Act takes effect upon becoming law.".