HB0265 Engrossed LRB094 05163 LJB 35204 b

1     AN ACT concerning insurance.
2     Be it enacted by the People of the State of Illinois,
3 represented in the General Assembly:
4     Section 5. The Use of Credit Information in Personal
5 Insurance Act is amended by adding Section 22 as follows:
6     (215 ILCS 157/22 new)
7     Sec. 22. Extraordinary life events.
8     (a) An insurer authorized to do business in this State that
9 uses credit information to underwrite or rate risks shall
10 review and consider an exception to the risk score based upon
11 extraordinary life events after receiving a written and signed
12 notification from the applicant or insured explaining how the
13 applicant or insured believes the extraordinary life event
14 adversely impacts the applicant's or insured's insurance risk
15 score.
16     (b) For the purposes of this Section, "extraordinary life
17 event" means the following:
18         (1) a catastrophic illness or injury to an applicant or
19     insured or an immediate family member of an applicant or
20     insured;
21         (2) the death of a spouse, child, or parent of an
22     applicant or insured;
23         (3) involuntary loss of employment for a period of 3
24     months or more by an applicant or insured;
25         (4) identity theft of an applicant or insured; or
26         (5) dissolution of marriage of an applicant or insured.
27     Section 99. Effective date. This Act takes effect July 1,
28 2006.