(215 ILCS 5/807.1)
Sec. 807.1.
Exemption of Certain Counties by the
Director.
The Director shall exempt every policy insuring residences, living units or
commercial buildings located in any county of 1,000,000 or more inhabitants or
any county contiguous to any such county, and, upon request of the Fund,
may exempt every policy insuring residences, living units or commercial
buildings located in any other specified county of this
State, from the provisions of Section 805.1 of this Article.
(Source: P.A. 91-357, eff. 7-29-99.)
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(215 ILCS 5/808.1)
Sec. 808.1.
Right of Insurers to Refuse to Provide Mine
Subsidence Coverage.
An insurer may refuse to provide mine subsidence coverage on a residence or
commercial building evidencing unrepaired mine subsidence damage until such
damage has been repaired.
(Source: P.A. 88-379.)
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(215 ILCS 5/809.1)
Sec. 809.1.
Arbitration.
In the event of a dispute between a policyholder and an insurer as to whether
a residence or commercial building covered by mine subsidence insurance has
been damaged by mine subsidence, a policyholder shall have the right to submit
that dispute to arbitration in accordance with this Section. No policyholder
shall have the right under this Section to submit to arbitration any issue
regarding the amount of loss or damage caused to a residence or commercial
building by mine subsidence.
Arbitration may be initiated only after the insurer has made a decision that
the residence or commercial building covered by mine subsidence insurance was
not damaged by mine subsidence and so notified the policyholder in writing,
accompanied by a notice informing the policyholder of the policyholder's right
to arbitration and containing specific reference to this Section. Within 60
days after receipt by the policyholder of the notification, the policyholder
may initiate arbitration in accordance with the Commercial Arbitration Rules of
the American Arbitration Association, as then in effect. All costs of the
arbitration shall be borne by the losing party. Appeals from the decision of
the arbitrators shall be in accordance with the Uniform Arbitration Act as in
effect in Illinois.
(Source: P.A. 88-379.)
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(215 ILCS 5/810.1)
Sec. 810.1.
Reinsurance Agreements.
All insurers shall enter into a
reinsurance agreement with the Fund. The reinsurance agreement shall be filed
with and approved by the
Director. The agreement shall provide that each
insurer shall cede 100% of any subsidence insurance written up to the limits
contained in Section 805.1(c) to the Fund and, in
consideration of the ceding
commission retained by the insurer, agrees to distribute informational
publications provided by the Fund on a schedule set by the Fund, undertake
adjustment of losses, payment of taxes, and all other expenses of the insurer
necessary for sale of policies and administration of the mine subsidence
insurance coverage. The Fund shall agree to reimburse the insurer for all
amounts reasonably and properly paid policyholders from claims resulting from
mine subsidence and for expenses specified in the reinsurance agreement. In
addition, the reinsurance agreement may contain, and may authorize the Fund to
establish and promulgate deductibles. The reinsurance agreement may also
contain reasonable rules and procedures covering
insurer documentation of losses; insurer reporting of claims, reports of
litigation, premiums and loss payments; loss payment review by the Fund;
remitting of premiums to the Fund; underwriting; and cause and origin
investigations; and procedures for
resolving disputes between the insurers and the Fund.
(Source: P.A. 90-655, eff. 7-30-98; 91-357, eff. 7-29-99.)
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(215 ILCS 5/811.1)
Sec. 811.1.
Distribution of Premiums.
The Fund is authorized to establish the proportion of total mine subsidence
insurance premiums collected by each insurer which shall be retained by the
insurer as a ceding commission, subject to review of the Director. The
remainder of such premiums shall be remitted by the insurer to the Fund at
times to be determined by the Fund. The ceding commission shall be uniform in
all reinsurance agreements entered into pursuant to Section 810.1 of this
Article
and shall be based on reasonable administrative costs to the insurers,
including agents' commissions.
(Source: P.A. 88-379.)
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(215 ILCS 5/812.1)
Sec. 812.1.
Claim Payments.
The Residential or the Commercial Fund, as the case may be, shall reimburse
insurers for all amounts due within 90 days after receiving adequate
documentation, as set forth in the reinsurance agreement, the Plan of Operation
or in the operating rules and procedures adopted by the Fund, that the insurer
has properly paid the claim and is entitled to reimbursement by the Fund,
subject to the limitations imposed by Section 806.1.
(Source: P.A. 88-379.)
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(215 ILCS 5/813.1)
Sec. 813.1.
Reporting Requirements.
Every insurer must report, at times designated by the Fund, such information
as is reasonably required by the Fund to conduct its affairs, establish claim
reserves, and reimburse insurers for losses paid to insureds.
(Source: P.A. 88-379.)
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(215 ILCS 5/814.1)
Sec. 814.1.
Right of Recourse.
(a) The Fund shall have no right of recourse against the insurer, once the
Fund has reimbursed the insurer for any particular loss, unless the insurer has
failed to settle that loss in its customary manner, or in case of fraud by the
insurer.
(b) The Fund may seek recovery against the policyholder for unjust
enrichment
if, in the Fund's judgment, the policyholder was not entitled to the amounts
paid because of fraud, or a material violation of the policy conditions. The
insurer shall provide cooperation to the Fund.
(Source: P.A. 88-379.)
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(215 ILCS 5/815.1)
Sec. 815.1.
Subrogation.
(a) All insurers issuing mine subsidence policies shall retain the right of
subrogation.
(b) The Fund, on its own behalf, may exercise the right of subrogation.
(c) Every insurer shall include in its reports an itemized list of all
losses
in subrogation and shall remit to the Fund all monies, less expenses, recovered
as the result of subrogation actions.
(Source: P.A. 88-379.)
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(215 ILCS 5/817.1)
Sec. 817.1.
Powers of Director.
In addition to any powers conferred upon
him by this or any other law, the Director shall have the authority to
supervise the operations of the Fund and shall review the Fund's rates once
every three years. In addition the Director or any person designated by him
has the power:
(a) to examine the operation of the Fund through free | ||
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(b) to do all things necessary to enable the State of | ||
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(c) to require such reports as the Director may deem | ||
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(Source: P.A. 90-655, eff. 7-30-98.)
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(215 ILCS 5/Art. XXXVIII.5 heading) ARTICLE XXXVIII 1/2.
GROUP SELF-INSURANCE PROGRAMS
(Repealed by P.A. 89-97, eff. 7-7-95)
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(215 ILCS 5/850) (from Ch. 73, par. 1065.501)
Sec. 850.
(Repealed).
(Source: Repealed by P.A. 89-97, eff. 7-7-95.)
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(215 ILCS 5/Art. XXXIX heading) ARTICLE XXXIX.
GROUP LEGAL EXPENSE INSURANCE
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(215 ILCS 5/900) (from Ch. 73, par. 1065.600)
Sec. 900.
Group legal expense defined.
Group legal expense insurance
means that form of legal expense insurance covering not less than 10 employees,
members, or employees of members, written under a master policy issued to
any governmental corporation, unit, agency or department thereof, or to
any corporation, copartnership, individual employer, or to any association
upon application of an executive officer or trustee of such association
having a constitution or bylaws and formed in good faith for purposes other
than that of obtaining insurance, where officers, members, employees, employees
of members or classes or departments thereof may be insured for their individual
benefit. In addition, a group legal expense policy may be written to insure
any group which may be insured under a group life insurance policy. The
term "employees" includes the officers, managers and employees or subsidiary
or affiliated corporations, and the individual proprietors, partners, and
employees of affiliated individuals and firms, when the business of such
subsidiary or affiliated corporations, firms or individuals is controlled
by a common employer through stock ownership, contract or otherwise.
(Source: P.A. 81-1361.)
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