Sen. John J. Cullerton

Filed: 5/11/2004

 

 


 

 


 
09300HB1075sam001 LRB093 05509 AMC 50510 a

1
AMENDMENT TO HOUSE BILL 1075

2     AMENDMENT NO. ______. Amend House Bill 1075 by replacing
3 everything after the enacting clause with the following:
 
4     "Section 5. The Illinois Insurance Code is amended by
5 adding Section 155.42 as follows:
 
6     (215 ILCS 5/155.42 new)
7     Sec. 155.42. Arbitration of automobile physical damage
8 claims. An insurer that amends, delivers, issues, or renews a
9 policy of automobile insurance, as defined in Section 143.13,
10 must arbitrate and settle all motor vehicle physical damage
11 claims between the insurer and another insurer in accordance
12 with an automobile subrogation program sponsored by the
13 intercompany arbitration organization chosen by the insurer.
14 Any arbitration decision shall be binding for the amount of
15 damages not exceeding $5,000.
 
16     Section 99. Effective date. This Act takes effect upon
17 becoming law.".