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92_HB2419 LRB9207370JSpc 1 AN ACT concerning insurance. 2 Be it enacted by the People of the State of Illinois, 3 represented in the General Assembly: 4 Section 5. The Illinois Insurance Code is amended by 5 adding Section 155.37 as follows: 6 (215 ILCS 5/155.37 new) 7 Sec. 155.37. Adverse underwriting decision; notice. 8 (a) If a company makes an adverse underwriting decision, 9 the company responsible for the decision must provide in 10 writing to the applicant, policyholder, or individual 11 proposed for coverage: 12 (1) the specific reason or reasons for the adverse 13 underwriting decision and a notice that upon request the 14 person may receive the specific items of personal 15 information that support those reasons and the specific 16 sources of the information; or 17 (2) the specific reason or reasons for the adverse 18 underwriting decision, the specific items of personal and 19 privileged information that support those reasons, and 20 the names and addresses of the sources that supplied the 21 specific items of information specified. 22 (b) If the adverse underwriting decision is either 23 solely or partially based upon a report of credit worthiness, 24 credit standing, or credit capacity that a company receives 25 from a consumer reporting agency, the company must also 26 provide in writing to the applicant, policyholder, or 27 individual proposed for coverage the specific reason or 28 reasons, including credit score, codes, or other credit-based 29 information used by the company in its underwriting. If the 30 information is based upon a credit score or code, the company 31 must provide a written, easily understandable explanation of -2- LRB9207370JSpc 1 the score or code and the name, address, and telephone number 2 of the consumer reporting agency that provided the 3 information. 4 Section 99. Effective date. This Act takes effect upon 5 becoming law.
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