Bill Status of SB 1873   98th General Assembly

Short Description:  INS CD-WORKERS COMP-POOL-FUND

Senate Sponsors
Sen. John G. Mulroe

Last Action  View All Actions

DateChamber Action
  1/13/2015SenateSession Sine Die

Statutes Amended In Order of Appearance
215 ILCS 5/107a.04
215 ILCS 5/107a.05
215 ILCS 5/107a.13
215 ILCS 5/107a.16 new
215 ILCS 5/534.4from Ch. 73, par. 1065.84-4
215 ILCS 5/107a.07 rep.
215 ILCS 5/107a.14 rep.

Synopsis As Introduced
Amends the Illinois Insurance Code. Makes changes concerning the provisions of the Code to which group workers' compensation pools are subject. Deletes certain provisions concerning the Group Workers' Compensation Pool Insolvency Fund. Provides that all qualified group workers' compensation pools shall be a member company, as defined in the Code. Provides that beginning in 2013, the maximum amount all qualified group workers' compensation pools may be assessed as a member company shall be 0.5% of that member company's net direct written premium on the kinds of insurance in the account for the calendar year preceding the assessment; thereafter, until 2016, the maximum amount all qualified group workers' compensation pools may be assessed as a member company shall annually increase by 0.5% of that member company's net direct written premium on the kinds of insurance in the account for the calendar year preceding the assessment until the maximum assessment amount is equal to 2% of that member company's net direct written premium. Provides that after 2016, all qualified group workers' compensation pools shall be assessed at the same percentage as any other member company. Provides that on the effective date of the amendatory Act, all moneys in the Group Workers' Compensation Pool Insolvency Fund shall be transferred into the Illinois Insurance Guaranty Fund. Provides that all liabilities whenever occurred of the Group Workers' Compensation Pool Insolvency Fund are to be assumed by the Illinois Insurance Guaranty Fund. Provides that no group workers' compensation pool shall be issued a certificate of authority after the effective date of the amendatory Act. Repeals provisions concerning the standards for issuing and maintaining pool certificates of authority and group workers' compensation pools assessments. Makes other changes. Effective immediately.

Actions 
DateChamber Action
  2/15/2013SenateFiled with Secretary by Sen. John G. Mulroe
  2/15/2013SenateFirst Reading
  2/15/2013SenateReferred to Assignments
  2/27/2013SenateAssigned to Insurance
  3/13/2013SenatePostponed - Insurance
  3/20/2013SenateDo Pass Insurance; 012-000-000
  3/20/2013SenatePlaced on Calendar Order of 2nd Reading March 21, 2013
  4/12/2013SenateSenate Floor Amendment No. 1 Filed with Secretary by Sen. John G. Mulroe
  4/12/2013SenateSenate Floor Amendment No. 1 Referred to Assignments
  4/17/2013SenateSenate Floor Amendment No. 1 Assignments Refers to Insurance
  4/17/2013SenateSenate Floor Amendment No. 1 Postponed - Insurance
  4/24/2013SenateSenate Floor Amendment No. 1 Postponed - Insurance
  4/30/2013SenateRe-referred to Assignments
  8/9/2013SenateSenate Floor Amendment No. 1 Re-referred to Assignments; 3-9(b)
  1/13/2015SenateSession Sine Die

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