Illinois General Assembly - Bill Status for HB0047

Illinois General Assembly - Bill Status for HB0047

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Bill Status of HB0047 103rd General Assembly

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Short Description: INS CD-IIGF/CYBERSECURITY

House Sponsors
Rep. Jay Hoffman

Senate Sponsors
(Sen. Napoleon Harris, III)

Last Action

Date	Chamber	Action
6/30/2023	House	Public Act . . . . . . . . . 103-0113

Statutes Amended In Order of Appearance

from Ch. 73, par. 1065.83

from Ch. 73, par. 1065.84

215 ILCS 5/534.9 new

215 ILCS 5/537.2

from Ch. 73, par. 1065.87-2

215 ILCS 5/537.7

from Ch. 73, par. 1065.87-7

215 ILCS 5/538.2

from Ch. 73, par. 1065.88-2

from Ch. 73, par. 1065.95

Synopsis As Introduced
Amends the Illinois Insurance Code. Provides that if the entry of an Order of Liquidation occurs on or after January 1, 2023, then the obligations shall not exceed $500,000 or exceed without any deduction $50,000 for any unearned premium claim or refund under any one policy. Provides that in no event shall the Fund be obligated to pay an amount in excess of $500,000 in the aggregate for all first-party and third-party claims under a policy or endorsement providing cybersecurity insurance coverage and arising out of or related to a single insured event, regardless of the number of claims made or number of claimants. Provides that the Illinois Insurance Guaranty Fund shall have the right to appoint or approve and to direct legal counsel and other service providers under any other insurance policies subject to the provisions, regardless of any limitations in the policy. Provides that the Fund may employ or retain such persons as are necessary to provide policy benefits and services. Provides that the Fund may, at its sole discretion and without assumption of any ongoing duty to do so, pay any cybersecurity insurance obligations covered by a policy of an insolvent company on behalf of a high net worth insured. Defines cybersecurity insurance. Makes other changes. Effective immediately.

Actions

Date	Chamber	Action
12/5/2022	House	Prefiled with Clerk by Rep. Jay Hoffman
1/12/2023	House	First Reading
1/12/2023	House	Referred to Rules Committee
2/7/2023	House	Assigned to Insurance Committee
2/21/2023	House	Do Pass / Short Debate Insurance Committee; 014-000-000
2/22/2023	House	Placed on Calendar 2nd Reading - Short Debate
3/14/2023	House	Second Reading - Short Debate
3/14/2023	House	Placed on Calendar Order of 3rd Reading - Short Debate
3/15/2023	House	Third Reading - Short Debate - Passed 114-000-000
3/21/2023	Senate	Arrive in Senate
3/21/2023	Senate	Placed on Calendar Order of First Reading
3/21/2023	Senate	Chief Senate Sponsor Sen. Napoleon Harris, III
3/21/2023	Senate	First Reading
3/21/2023	Senate	Referred to Assignments
4/12/2023	Senate	Approved for Consideration Assignments
4/12/2023	Senate	Placed on Calendar Order of 2nd Reading April 18, 2023
4/20/2023	Senate	Second Reading
4/20/2023	Senate	Placed on Calendar Order of 3rd Reading April 25, 2023
5/5/2023	Senate	Placed on Calendar Order of 3rd Reading ** May 8, 2023
5/11/2023	Senate	Third Reading - Passed; 056-000-000
5/11/2023	House	Passed Both Houses
6/9/2023	House	Sent to the Governor
6/30/2023	House	Governor Approved
6/30/2023	House	Effective Date June 30, 2023
6/30/2023	House	Public Act . . . . . . . . . 103-0113