Bill Status of HB6775 93rd General Assembly
Short Description: MED MALPRACTICE INS REFORM ACT
Rep. Steve Davis
| 1/11/2005||House||Session Sine Die|
Statutes Amended In Order of Appearance
Synopsis As Introduced
Creates the Illinois Common Sense Medical Malpractice Insurance Reform Act. Provides that: for any liability policy for healthcare providers issued or renewed on or after January 1, 2004, every insurer shall reduce its rates and premiums to no more than 80% of the rate and premium for the same coverage that was in effect on January 1, 2003; between January 1, 2004 and January 1, 2005, rates and premiums may be increased if the Director of Insurance finds that an insurer is substantially threatened with insolvency; beginning January 1, 2004, rates and premiums may be increased if approved in accordance with specified conditions; a healthcare provider applying for a policy for the first time on or after January 1, 2004 shall not be charged more than 80% of the rate and premium that was being charged by that insurer on January 1, 2003 for similarly situated risks; and any separate affiliate of a healthcare provider liability insurer established on or after January 1, 2003 shall reduce its rates and premiums to no more than 80% at the insurer's rates and premiums in effect on January 1, 2003. Sets forth factors to be used in determining rates and premiums for liability insurance policies for healthcare providers. Contains provisions concerning: applicability of other laws; permitted activities; cancellation or non-renewal of insurance; disclosure of premiums; approval of rate changes; hearings; rules; establishment of a joint underwriting authority under specified circumstances; group insurance; enforcement and penalties; filing fees to cover administrative or operational costs; construction; and severability. Effective immediately.
|Date||Chamber|| Action|| 2/9/2004||House||Filed with the Clerk by Rep. Steve Davis|| 2/9/2004||House||First Reading|| 2/9/2004||House||Referred to Rules Committee|| 1/11/2005||House||Session Sine Die|