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Sen. John G. Mulroe
Filed: 4/4/2019
| | 10100SB1377sam002 | | LRB101 05283 AMC 57696 a |
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| 1 | | AMENDMENT TO SENATE BILL 1377
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| 2 | | AMENDMENT NO. ______. Amend Senate Bill 1377 on page 12, by |
| 3 | | replacing lines 5 through 15 with the following:
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| 4 | | "The Fund may also, at its sole discretion and without |
| 5 | | assumption of any ongoing duty to do so, pay any workers |
| 6 | | compensation claims or any other third-party claims covered by |
| 7 | | a policy of an insolvent company on behalf of a high net worth |
| 8 | | insured as defined in paragraph (iv) of subsection (b) of |
| 9 | | Section 534.3. In that case, the Fund shall recover from the |
| 10 | | high net worth insured under this Section for all amounts paid |
| 11 | | on its behalf, all allocated claim adjusted expenses related to |
| 12 | | such claims, the Fund's attorney's fees, and all court costs in |
| 13 | | any action necessary to collect the full amount to the Fund's |
| 14 | | reimbursement under this Section.".
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