Sen. John J. Cullerton
Filed: 5/11/2004
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1 | AMENDMENT TO HOUSE BILL 1075
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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)
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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.
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16 | Section 99. Effective date. This Act takes effect upon | ||||||
17 | becoming law.".
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