INS-VARIOUS
Summary
Amends the Illinois Insurance Code. Changes the filing due date applicable to actuarial opinions as to the sufficiency of the loss and loss adjustment expense reserves for group workers' compensation pools from June 1 to March 1 of each year. In provisions concerning the bond required of insurance producers, changes a reference from "agent contact" to "agency contract". Provides that the corporate governance annual disclosure must attest to the best of the signatory's belief and knowledge that the insurer has implemented the corporate governance practices (rather than the corporate governance practices required by the provisions concerning disclosure requirements) and that a copy of the disclosure has been provided to the insurer's board of directors or the appropriate committee thereof. Provides that an insurer must ensure that it has complied with the financial requirements and treatment limitations applicable to mental, emotional, nervous, or substance use disorder or condition benefits prior to policy issuance. Provides that pre-licensing course of study hours required to be completed in a classroom setting in order to obtain an insurance producer license may also be completed in a webinar setting. Provides that 3 hours of classroom ethics instruction required for renewal of a public adjuster license may also be completed by webinar. Defines "webinar". Repeals an Article concerning public insurance adjusters and registered firms. Effective immediately, except that provisions concerning the filing due date applicable to actuarial opinions take effect January 1, 2022.
Bill status
failed
1 of 4 stages cleared
Introduction
Feb 2021
Committee Review
Floor Vote
Governor
Introduced Feb 26, 2021
Last action Jan 10, 2023
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
12
Key actions
2
Committee
6
Apr 23, 2021
Committee
Rule 3-9(a) / Re-referred to Assignments
upper
Apr 21, 2021
Upper · Passed
Do Pass Insurance; 012-000-000
upper
Apr 16, 2021
Committee
Rule 3-9(a) / Re-referred to Assignments
upper
Apr 16, 2021
Upper · Passed
Rule 2-10 Committee Deadline Established As April 23, 2021
upper
Mar 23, 2021
Committee
Assigned to Insurance
upper
Feb 26, 2021
Committee
Referred to Assignments
upper
1 primary · 0 co-sponsors
Sponsors
Role
Legislator
Party
State
District
P
Napoleon Harris
DDemocratic
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