Bill Status of SB 1688   95th General Assembly

Short Description:  INS CD-BUSINESS PRACTICES

Senate Sponsors
Sen. Don Harmon

Last Action  View All Actions

DateChamber Action
  1/13/2009SenateSession Sine Die

Statutes Amended In Order of Appearance
215 ILCS 5/500-82 new

Synopsis As Introduced
Amends the Illinois Insurance Code. Sets out the types of insurance producers that are exempt from the provisions of the Section. Requires an insurance producer to disclose in writing certain information to customers prior to binding coverage, disclose to each customer its compensation relating to that customer's policy prior to binding or renewing coverage, and disclose to each customer at the end of each calendar year all compensation received during the preceding year or anticipated to be received from any insurer or third party in connection with the placement of, renewal of, servicing of, or consultation on that customer's policy. Provides that an insurance producer may retain interest earned on premiums collected on behalf of insurers only after prior notification to the customers from whom such premiums are collected. Makes other changes.

Actions 
DateChamber Action
  2/9/2007SenateFiled with Secretary by Sen. Don Harmon
  2/9/2007SenateFirst Reading
  2/9/2007SenateReferred to Rules
  2/21/2007SenateAssigned to Insurance
  3/7/2007SenateSenate Committee Amendment No. 1 Filed with Secretary by Sen. Don Harmon
  3/7/2007SenateSenate Committee Amendment No. 1 Referred to Rules
  3/7/2007SenateSenate Committee Amendment No. 1 Rules Refers to Insurance
  3/7/2007SenateSenate Committee Amendment No. 1 Postponed - Insurance
  3/8/2007SenatePostponed - Insurance
  3/16/2007SenateRule 3-9(a) / Re-referred to Rules
  3/16/2007SenateSenate Committee Amendment No. 1 Rule 3-9(a) / Re-referred to Rules
  1/13/2009SenateSession Sine Die

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