Illinois General Assembly - Bill Status for SB3504
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 Bill Status of SB3504  98th General Assembly

Short Description:  INS CD-MINE SUBSIDENCE

Senate Sponsors
Sen. William R. Haine

House Sponsors
(Rep. Jay Hoffman - Monique D. Davis - Anthony DeLuca and Dan Brady)

Last Action
DateChamber Action
  8/18/2014SenatePublic Act . . . . . . . . . 98-1007

Statutes Amended In Order of Appearance
215 ILCS 5/805.1

Synopsis As Introduced
Amends the Illinois Insurance Code in the provision concerning mine subsidence coverage. Provides that as set forth in the provisions concerning (1) the inclusion of certain coverage at separately stated premiums and (2) premium levels, losses, and reinsurance, a policy issued or renewed must provide coverage, unless waived in writing by the insured, and the insurer must continue to charge the premium level set for that coverage by the Mine Subsidence Insurance Fund. Provides that if mine subsidence coverage is in force when the mine subsidence damage first becomes reasonably observable, then the insurer shall notify the insured making the mine subsidence claim that continuation of that coverage thereafter may not be necessary and is optional, but that continued coverage on the damaged residence or commercial building shall terminate only upon written waiver by the insured. Provides that the notification shall (i) be made within 60 days after the insurer receives written confirmation from the Fund that the cause of loss is active mine subsidence; (ii) be in the form of a separate mailing to the insured from the insurer via the United States Postal Service; (iii) include notification to the insured that mine subsidence premiums paid for coverage on a damaged residence or commercial building subsequent to the established date of loss shall be refunded to the insured within 60 days after the insured provides a signed waiver of mine subsidence coverage to the insurer; and (iv) be accompanied by a waiver of coverage form for the insured to sign and return to the insurer.

DateChamber Action
  2/14/2014SenateFiled with Secretary by Sen. William R. Haine
  2/14/2014SenateFirst Reading
  2/14/2014SenateReferred to Assignments
  3/5/2014SenateAssigned to Insurance
  3/27/2014SenateDo Pass Insurance; 012-000-000
  3/27/2014SenatePlaced on Calendar Order of 2nd Reading April 1, 2014
  4/3/2014SenateSecond Reading
  4/3/2014SenatePlaced on Calendar Order of 3rd Reading April 7, 2014
  4/7/2014SenateThird Reading - Passed; 047-001-000
  4/7/2014HouseArrived in House
  4/7/2014HouseChief House Sponsor Rep. Jay Hoffman
  4/7/2014HouseFirst Reading
  4/7/2014HouseReferred to Rules Committee
  4/28/2014HouseAssigned to Insurance Committee
  5/6/2014HouseDo Pass / Short Debate Insurance Committee; 018-000-001
  5/7/2014HousePlaced on Calendar 2nd Reading - Short Debate
  5/8/2014HouseAdded Alternate Co-Sponsor Rep. Dan Brady
  5/9/2014HouseAdded Alternate Chief Co-Sponsor Rep. Monique D. Davis
  5/13/2014HouseSecond Reading - Short Debate
  5/13/2014HousePlaced on Calendar Order of 3rd Reading - Short Debate
  5/23/2014HouseThird Reading - Short Debate - Passed 110-001-000
  5/23/2014HouseAdded Alternate Chief Co-Sponsor Rep. Anthony DeLuca
  5/23/2014HouseAlternate Chief Co-Sponsor Changed to Rep. Anthony DeLuca
  5/23/2014SenatePassed Both Houses
  6/20/2014SenateSent to the Governor
  8/18/2014SenateGovernor Approved
  8/18/2014SenateEffective Date January 1, 2015
  8/18/2014SenatePublic Act . . . . . . . . . 98-1007

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