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| | 98TH GENERAL ASSEMBLY
State of Illinois
2013 and 2014
SB3015 Introduced 2/7/2014, by Sen. Iris Y. Martinez SYNOPSIS AS INTRODUCED:
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| 215 ILCS 5/154.8 | from Ch. 73, par. 766.8 |
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Amends the Illinois Insurance Code. Provides that if, after a hearing pursuant to the Code, the Director
of Insurance finds that a company has engaged in an improper claims practice, the Director shall
order the company to cease and desist from such practices and, in the
exercise of reasonable discretion, may suspend
the company's certificate of authority for a period not to exceed 6
months or impose a civil penalty of up to $375,000 (rather than $250,000), or both.
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| | | FISCAL NOTE ACT MAY APPLY | |
| | A BILL FOR |
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| | SB3015 | | LRB098 17342 RPM 52438 b |
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| 1 | | AN ACT concerning regulation.
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| 2 | | Be it enacted by the People of the State of Illinois,
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| 3 | | represented in the General Assembly:
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| 4 | | Section 5. The Illinois Insurance Code is amended by |
| 5 | | changing Section 154.8 as follows:
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| 6 | | (215 ILCS 5/154.8) (from Ch. 73, par. 766.8)
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| 7 | | Sec. 154.8.
Cease and Desist Order - Suspension of |
| 8 | | Certificate - Civil
penalty - Judicial
Review.) |
| 9 | | (1) If after a hearing pursuant to Section 154.7 the |
| 10 | | Director
finds that company has engaged in an improper claims |
| 11 | | practice, he shall
order such company to cease and desist from |
| 12 | | such practices and, in the
exercise of reasonable discretion, |
| 13 | | may suspend
the company's certificate of authority for a period |
| 14 | | not to exceed 6
months or impose a civil penalty of up to |
| 15 | | $375,000 $250,000, or both.
Pursuant to Section 401, the |
| 16 | | Director shall promulgate reasonable rules
and regulations |
| 17 | | establishing standards for the implementation of this Section.
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| 18 | | (2) Any order of the Director pursuant to this Section is |
| 19 | | subject to
judicial review under Section 407 of this Code.
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| 20 | | (Source: P.A. 86-846.)
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