HB1059 103RD GENERAL ASSEMBLY

LRB103 00068 BMS 45068 b

103RD GENERAL ASSEMBLY
State of Illinois
2023 and 2024
HB1059

Introduced 1/12/2023, by Rep. Rita Mayfield

SYNOPSIS AS INTRODUCED:

215 ILCS 157/21 new
215 ILCS 157/45

Amends the Use of Credit Information in Personal Insurance Act. Provides that, notwithstanding any other law, an insurer authorized to do business in the State may not use the credit information of an applicant or a policyholder as a factor to determine insurance rates for any private passenger automobile insurance policy that is amended, delivered, issued, or renewed on or after the effective date of the amendatory Act. Directs the Department of Insurance to adopt rules to enforce and administer this requirement. Makes a conforming change in a provision concerning the Department's enforcement powers.

A BILL FOR

AN ACT concerning regulation.

Be it enacted by the People of the State of Illinois, represented in the General Assembly:

Section 5. The Use of Credit Information in Personal Insurance Act is amended by adding Section 21 and changing Section 45 as follows:

(215 ILCS 157/21 new)

Sec. 21. Prohibition of use of credit information; automobile insurance rates. Notwithstanding any other law, an insurer authorized to do business in this State may not use the credit information of an applicant or policyholder as a factor to determine insurance rates for any private passenger automobile insurance policy that is amended, delivered, issued, or renewed on or after the effective date of this amendatory Act of the 103rd General Assembly. The Department shall adopt rules necessary to enforce and administer this Section.

(215 ILCS 157/45)

Sec. 45. Enforcement; rates not regulated.

(a) The Department shall enforce the provisions of this Act pursuant to the enforcement powers granted to it under the Illinois Insurance Code. The Department may promulgate rules necessary to enforce and administer this Act.

(b) Except as provided in Section 21, nothing Nothing contained in this Act shall be construed to empower the Department to regulate or set the rates of any insurer pursuant to this Act.

(Source: P.A. 93-114, eff. 10-1-03.)