90th General Assembly
Summary of HB0223
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Short description: 
INS CD-EXCHANGE-REORGANIZATION                                             

Synopsis of Bill as introduced:
        Amends the Illinois Insurance Code.  Repeals a Section concerning      
   single case appointment of agents by insurer.                               
        HOUSE AMENDMENT NO. 1.                                                 
          Adds reference to:                                                   
          215 ILCS 5/491.1                from Ch. 73, par. 1065.38-1          
          215 ILCS 5/499.1                from Ch. 73, par. 1065.46-1          
        Amends the Illinois Insurance Code.  Provides that  a  registered      
   firm  may  be  a  limited  liability company.  Provides that a limited      
   liability company that transacts insurance business  as  an  insurance      
   agency shall register with the Director of Insurance.                       
          FISCAL NOTE, H-AM 1 (Dept. of Insurance)                             
          There will be no fiscal impact on this Dept.                         
        SENATE AMENDMENT NO. 1. (Senate recedes May 31, 1997)                  
          Adds reference to:                                                   
          215 ILCS 5/155.31                                                    
        Amends the Ill. Insurance Code to establish a confidentiality          
   privilege for communications relating to voluntary internal compliance      
   audits. Effective immediately.                                              
        SENATE AMENDMENT NO. 2. (Senate recedes May 31, 1997)                  
          Adds reference to:                                                   
          215 ILCS 5/534.3                                                     
          215 ILCS 5/534.4                                                     
          215 ILCS 5/538.4                                                     
          215 ILCS 5/545                                                       
          215 ILCS 5/546                                                       
          215 ILCS 5/802.1                                                     
          215 ILCS 5/803.1                                                     
        Amends the Illinois Insurance Code in relation to mine subsidence      
   insurance.      Includes   within   the   definition   of    "insurer"      
   intergovernmental  cooperatives  that provide Standard Fire Policy and      
   Extended  Coverage  Endorsements.   Authorizes   the   Illinois   Mine      
   Subsidence  Insurance  Fund  to enter into reinsurance agreements with      
   intergovernmental cooperatives that provide joint  self-insurance  for      
   mine  subsidence losses. Amends the Illinois Insurance Code concerning      
   the Illinois Insurance Guaranty Fund.  Provides  that   covered  claim      
   does not include certain third party claims against insurers.  Repeals      
   certain  provisions concerning exhaustion of claims.  Provides that an      
   insured or claimant shall be required to first  exhaust  all  coverage      
   provided  by  any  other insurance policy if the claim arises from the      
   same facts, injury, or loss  that  gave  rise  to  the  covered  claim      
   against  the  Fund.   Provides  that  the  Fund's  obligation shall be      
   reduced by the amount recovered or recoverable, whichever is  greater,      
   under  the  other  insurance  policy.  Provides that to the extent the      
   Fund's obligation is reduced, the liability of the person  insured  by      
   the  insolvent  insurer's policy for the claim shall be reduced in the      
   same amount. Makes other changes.                                           
        CONFERENCE COMMITTEE REPORT NO. 1.                                     
        Recommends that the Senate recede from S-ams 1 and 2.                  
        Recommends that the bill be further amended as follows:                
          Adds reference to:                                                   
          New Act                                                              
          215 ILCS 5/107.02               from Ch. 73, par. 719.02             
          215 ILCS 5/107.06a              from Ch. 73, par. 719.06a            
          215 ILCS 5/107.28 new                                                
          215 ILCS 5/107.29 new                                                
          215 ILCS 5/155.31 new                                                
          215 ILCS 5/491.1                from Ch. 73, par. 1065.38-1          
          215 ILCS 5/499.1                from Ch. 73, par. 1065.46-1          
          215 ILCS 5/534.3                from Ch. 73, par. 1065.84-3          
          215 ILCS 5/534.4                from Ch. 73, par. 1065.84-4          
          215 ILCS 5/538.4                from Ch. 73, par. 1065.88-4          
          215 ILCS 5/545                  from Ch. 73, par. 1065.95            
          215 ILCS 5/546                  from Ch. 73, par. 1065.96            
          215 ILCS 5/802.1                                                     
          215 ILCS 5/803.1                                                     
          215 ILCS 5/107.03               from Ch. 73, par. 719.03             
          215 ILCS 5/107.05               from Ch. 73, par. 719.05             
          215 ILCS 5/107.07               from Ch. 73, par. 719.07             
          215 ILCS 5/107.09               from Ch. 73, par. 719.09             
          215 ILCS 5/107.13               from Ch. 73, par. 719.13             
          215 ILCS 5/107.13a              from Ch. 73, par. 719.13a            
          215 ILCS 5/107.15b new                                               
          215 ILCS 5/107.17               from Ch. 73, par. 719.17             
          215 ILCS 5/107.27               from Ch. 73, par. 719.27             
          215 ILCS 5/107.30 new                                                
          215 ILCS 5/107.31 new                                                
          215 ILCS 5/107.14 rep.                                               
          215 ILCS 5/493.1 rep.                                                
        Replaces  the  title  and  everything  after the enacting clause.      
   Incorporates the provisions of House Bill 223  as  amended  by  Senate      
   Amendments Nos. 1 and 2.  Amends the Illinois Insurance Code regarding      
   insurance   exchanges.   Authorizes  the  organization  of  additional      
   insurance exchanges.  Provides for the organization of new  syndicates      
   and  the  reorganization  of  additional syndicates.  Provides for the      
   runoff of operations of the Illinois Insurance  Exchange.   Authorizes      
   the  exchange to establish annual fees for the admission of syndicates      
   and limited syndicates.   Requires  the  Department  of  Insurance  to      
   obtain  annual statements from exchanges.  Requires syndicates to file      
   disclosure statements with the Department of Insurance.  Abolishes the      
   limit on examination fees.  Creates the Employee Leasing  Company  Act      
   to  ensure that an employer that leases its employees obtains workers'      
   compensation  insurance  for  all  of  its  employees  and  pays   the      
   appropriate   premium.   Requires  registration  of  employee  leasing      
   companies.  Effective immediately, except that provisions creating the      
   Employee Leasing  Company  Act  and  certain  provisions  relating  to      
   insurance exchanges and syndicates take effect January 1, 1998.             
Last action on Bill: PUBLIC ACT.............................. 90-0499

   Last action date: 97-08-19

           Location: House

 Amendments to Bill: AMENDMENTS ADOPTED: HOUSE -   1     SENATE -   2


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