Bill Status of SB 3322   98th General Assembly

Short Description:  INS CD-DOI-DEPOSIT-SECURITY

Senate Sponsors
Sen. William R. Haine

House Sponsors
(Rep. Frank J. Mautino and Monique D. Davis)


Last Action  View All Actions

DateChamber Action
  8/15/2014SenatePublic Act . . . . . . . . . 98-0969

Statutes Amended In Order of Appearance
5 ILCS 220/6from Ch. 127, par. 746
215 ILCS 5/26from Ch. 73, par. 638
215 ILCS 5/53from Ch. 73, par. 665
215 ILCS 5/174from Ch. 73, par. 786
215 ILCS 5/245.1from Ch. 73, par. 857.1
215 ILCS 5/Art. V.5 rep.
215 ILCS 5/Art. XVI rep.
215 ILCS 5/Art. XVIII rep.
215 ILCS 5/Art. XIXB rep.
215 ILCS 5/155.39 rep.
215 ILCS 5/178 rep.
215 ILCS 5/359b rep.
215 ILCS 5/359c rep.

Synopsis As Introduced
Amends the Intergovernmental Cooperation Act. Makes changes in the provision concerning joint self-insurance. Provides that any statement of actuarial opinion, as defined in the Code of Professional Conduct of the American Academy of Actuaries (the Academy), must be prepared by an actuary who satisfies the qualification standards set forth by the Academy to issue the opinion in the particular area of actuarial practice. Amends the Illinois Insurance Code. In provisions concerning deposits of securities, deletes certain references to provisions of the Code concerning rated credit instruments. Makes changes in the provisions concerning the kinds of reinsurance agreements that shall not be entered into by any domestic company unless such agreements are approved in writing by the Director of Insurance and the assignability of life insurance. Repeals the Insurance Exchange, Assessment Legal Reserve Life Companies, Mutual Benefit Associations, and Small Employer Group Health Insurance Law Articles of the Code. Repeals provisions concerning the committee to create a uniform small employer group-health status questionnaire and individual health statement and accident and health expense reporting.

Senate Committee Amendment No. 1
Deletes reference to:
215 ILCS 5/155.39 rep.

Removes the repeal of a provision concerning vehicle protection products.

Senate Committee Amendment No. 2
Deletes the changes to the provision requiring joint insurance pools to file a statement of actuarial opinion with the Director of Insurance. Provides instead that the joint insurance pool shall also annually file with the Director a statement of actuarial opinion that conforms to the Actuarial Standards of Practice issued by the Actuarial Standards Board; all statements of actuarial opinion shall be issued by an independent actuary who is an associate or fellow of the Casualty Actuarial Society or of the Society of Actuaries; and the statement of actuarial opinion shall include a statement that the pool's reserves are calculated in accordance with sound loss-reserving standards and adequate for the payment of claims. Provides that any statement of actuarial opinion must be prepared by an actuary who satisfies the qualification standards set forth by the American Academy of Actuaries to issue the opinion in the particular area of actuarial practice.

Actions 
DateChamber Action
  2/14/2014SenateFiled with Secretary by Sen. William R. Haine
  2/14/2014SenateFirst Reading
  2/14/2014SenateReferred to Assignments
  2/25/2014SenateAssigned to Insurance
  3/5/2014SenateSenate Committee Amendment No. 1 Filed with Secretary by Sen. William R. Haine
  3/5/2014SenateSenate Committee Amendment No. 1 Referred to Assignments
  3/13/2014SenateSenate Committee Amendment No. 2 Filed with Secretary by Sen. William R. Haine
  3/13/2014SenateSenate Committee Amendment No. 2 Referred to Assignments
  3/20/2014SenateSenate Committee Amendment No. 1 Assignments Refers to Insurance
  3/20/2014SenateSenate Committee Amendment No. 2 Assignments Refers to Insurance
  3/20/2014SenateSenate Committee Amendment No. 1 Adopted
  3/20/2014SenateSenate Committee Amendment No. 2 Adopted
  3/21/2014SenateDo Pass as Amended Insurance; 008-000-000
  3/21/2014SenatePlaced on Calendar Order of 2nd Reading March 25, 2014
  4/3/2014SenateSecond Reading
  4/3/2014SenatePlaced on Calendar Order of 3rd Reading April 7, 2014
  4/7/2014SenateThird Reading - Passed; 048-000-000
  4/7/2014HouseArrived in House
  4/7/2014HouseChief House Sponsor Rep. Frank J. Mautino
  4/7/2014HouseFirst Reading
  4/7/2014HouseReferred to Rules Committee
  4/28/2014HouseAssigned to Insurance Committee
  5/6/2014HouseDo Pass / Short Debate Insurance Committee; 023-000-000
  5/7/2014HousePlaced on Calendar 2nd Reading - Short Debate
  5/13/2014HouseSecond Reading - Short Debate
  5/13/2014HousePlaced on Calendar Order of 3rd Reading - Short Debate
  5/13/2014HouseAdded Alternate Co-Sponsor Rep. Monique D. Davis
  5/21/2014HouseThird Reading - Short Debate - Passed 114-000-000
  5/21/2014SenatePassed Both Houses
  6/19/2014SenateSent to the Governor
  8/15/2014SenateGovernor Approved
  8/15/2014SenateEffective Date January 1, 2015
  8/15/2014SenatePublic Act . . . . . . . . . 98-0969

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