HB2173ham003 101ST GENERAL ASSEMBLY

Rep. Jay Hoffman

Filed: 4/2/2019

10100HB2173ham003 LRB101 05282 AMC 59048 a

AMENDMENT TO HOUSE BILL 2173

AMENDMENT NO. ______. Amend House Bill 2173 on page 12, by replacing lines 5 through 15 with the following:

"The Fund may also, at its sole discretion and without assumption of any ongoing duty to do so, pay any workers compensation claims or any other third-party claims covered by a policy of an insolvent company on behalf of a high net worth insured as defined in paragraph (iv) of subsection (b) of Section 534.3. In that case, the Fund shall recover from the high net worth insured under this Section for all amounts paid on its behalf, all allocated claim adjusted expenses related to such claims, the Fund's attorney's fees, and all court costs in any action necessary to collect the full amount to the Fund's reimbursement under this Section.".