92nd General Assembly
Summary of HB3346
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House Sponsors:

Short description: 
HOLOCAUST VICTIMS INSURNCE LAW                                             

Synopsis of Bill as introduced:
        Amends the Illinois Insurance Code. Creates the Holocaust Victims      
   Insurance Law. Requires the Department of  Insurance  to  establish  a      
   toll-free  telephone  number  to  assist  persons  seeking recovery of      
   proceeds of an insurance policy issued to a Holocaust victim. Provides      
   that insurers must expeditiously  investigate  claims  under  policies      
   issued  to  Holocaust victims and allow claimants to meet a reasonable      
   standard of proof pursuant to standards established by the Department.      
   Requires  insurers  to  allow  claims  irrespective  of   statute   of      
   limitations  and  notice  requirements if the claim is filed within 10      
   years after the effective date of this amendatory  Act.  Authorizes  a      
   private  right  of action for damages caused by violations of the Law.      
   Requires the Department to report to the  General  Assembly  regarding      
   insurers  in  this  State  that  have  a  legal  relationship  with an      
   international insurer that could have issued a policy to  a  Holocaust      
   victim and claims related to Holocaust victims.                             
          FISCAL NOTE (Department of Insurance)                                
          The Department estimates that the costs associated with estab-       
          lishing a toll-free hotline would be approximately $600 annu-        
          ally, including obtaining a new toll-free number, monthly phone      
          charges, installation of the toll-free line, as well as instal-      
          lation and monthly charges associated with listing the number        
          in a directory. In addition to these charges, there would be a       
          cost associated with every incoming call received by the De-         
          partment. The Department cannot estimate how many calls would        
          be made to this hotline, and therefore, the Department cannot        
          determine the cost of these calls.                                   
        HOUSE AMENDMENT NO. 1.                                                 
        Deletes  provision  requiring  the  Department  of  Insurance  to      
   operate  the  toll-free  telephone  number  in   multiple   languages.      
   Requires  an  insurance  company  to  ascertain whether it has a legal      
   relationship to an international insurer that is a legal successor  to      
   an  international  insurer that issued a policy to a Holocaust victim.      
   Provides that insurers  can  comply  with  the  requirements  of  this      
   amendatory  Act  by  demonstrating  compliance  with  an international      
   commission on insurance claims by Holocaust victims.                        
Last action on Bill: SESSION SINE DIE

   Last action date: JAN-07-2003

           Location: House

 Amendments to Bill: AMENDMENTS ADOPTED: HOUSE -   1     SENATE -   0


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