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| | 98TH GENERAL ASSEMBLY
State of Illinois
2013 and 2014 SB2608 Introduced 10/22/2013, by Sen. Jason A. Barickman SYNOPSIS AS INTRODUCED: |
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Amends the Illinois Insurance Code. Sets forth provisions that apply to a certificate of insurance that is
issued in connection with a contract related to property,
operations, or risks located in this State, regardless of the location of
the policyholder, insurer, insurance producer, or person that
requests or requires the issuance of the certificate of insurance. Provides that the use of a certificate of insurance form that is unfair, misleading, or deceptive or
violates any law
is an unfair and deceptive act or practice in the business of
insurance. Provides that a certificate of insurance may not amend, extend, or alter the coverage provided under, or
confer to a person any rights in addition to the rights
expressly provided in,
the policy of property or casualty insurance to which the certificate
of insurance refers. Provides that a person may not prepare, issue, request, or
require the issuance of a certificate of insurance that (1) contains false or misleading information concerning the policy of property or casualty insurance to which the certificate
of insurance refers or (2) alters, amends, or extends the coverage provided by
the policy of property or casualty insurance to which the certificate
of insurance refers. Provides that a certificate of insurance may not contain a
warranty that the policy of property or casualty insurance to which
the certificate of insurance refers complies with the insurance or
indemnification requirements of a contract. Provides that a person is not entitled to notice of, cancellation of, nonrenewal of, or
a material change in
a policy of property or casualty insurance unless the person has
notice rights under the terms of the policy of property or casualty
insurance or an endorsement to the policy. Sets forth provisions concerning the Director of Insurance's authority and departmental rules.
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| | | FISCAL NOTE ACT MAY APPLY | |
| | A BILL FOR |
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| | SB2608 | | LRB098 13676 RPM 48202 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 adding |
5 | | Section 155.45 as follows: |
6 | | (215 ILCS 5/155.45 new) |
7 | | Sec. 155.45. Certificates of insurance. |
8 | | (a) In this Section: |
9 | | "Certificate of insurance"
means a document prepared |
10 | | by an insurer or insurance producer
as evidence of property |
11 | | or casualty insurance coverage.
"Certificate of insurance" |
12 | | does not include a policy of insurance, an
insurance |
13 | | binder, a policy endorsement, or a motor vehicle
insurance |
14 | | identification or information card. |
15 | | "Department" means the Department of Insurance. |
16 | | "Director" means the Director of Insurance. |
17 | | "Insurance producer" means a person required to be |
18 | | licensed under the laws of this State to sell, solicit, or |
19 | | negotiate insurance. |
20 | | "Insurer" means a company, firm, partnership, |
21 | | association, order, society, or system making any kind or |
22 | | kinds of insurance and shall include associations |
23 | | operating as Lloyds, reciprocal or inter-insurers, or |