State of Illinois
92nd General Assembly

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 1        AN  ACT  to  amend  the Illinois Insurance Code by adding
 2    Section 141.04.

 3        Be it enacted by the People of  the  State  of  Illinois,
 4    represented in the General Assembly:

 5        Section  5.  The  Illinois  Insurance  Code is amended by
 6    adding Section 141.04 as follows:

 7        (215 ILCS 5/141.04 new)
 8        Sec. 141.04.  Liability for credit  information  used  in
 9    underwriting.  An  insurance  company transacting business in
10    this State shall indemnify and hold harmless any  independent
11    insurance  producer  representing  the company from liability
12    arising out of or relating to actions  or  inactions  of  the
13    independent producer concerning the use of credit information
14    relating  to  an  insured  or  proposed  insured  used in the
15    underwriting of insurance coverage. The company's  obligation
16    to   indemnify  and  hold  harmless  the  insurance  producer
17    includes,  but  is  not  limited  to,   indemnification   for
18    attorney's   fees   and   costs  of  investigation,  defense,
19    settlements, and judgments.
20        As used in this Section, "independent insurance producer"
21    means an insurance producer representing an insurance company
22    as an independent contractor and not as an employee.

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