House Sponsors: MAUTINO-WOOLARD-BRADY-MOORE,EUGENE-PARKE. Senate Sponsors: MADIGAN,R-REA Short description: INS CD-EXCHANGE-REORGANIZATION Synopsis of Bill as introduced: Amends the Illinois Insurance Code. Repeals a Section concerning single case appointment of agents by insurer. HOUSE AMENDMENT NO. 1. Adds reference to: 215 ILCS 5/491.1 from Ch. 73, par. 1065.38-1 215 ILCS 5/499.1 from Ch. 73, par. 1065.46-1 Amends the Illinois Insurance Code. Provides that a registered firm may be a limited liability company. Provides that a limited liability company that transacts insurance business as an insurance agency shall register with the Director of Insurance. FISCAL NOTE, H-AM 1 (Dept. of Insurance) There will be no fiscal impact on this Dept. SENATE AMENDMENT NO. 1. (Senate recedes May 31, 1997) Adds reference to: 215 ILCS 5/155.31 Amends the Ill. Insurance Code to establish a confidentiality privilege for communications relating to voluntary internal compliance audits. Effective immediately. SENATE AMENDMENT NO. 2. (Senate recedes May 31, 1997) Adds reference to: 215 ILCS 5/534.3 215 ILCS 5/534.4 215 ILCS 5/538.4 215 ILCS 5/545 215 ILCS 5/546 215 ILCS 5/802.1 215 ILCS 5/803.1 Amends the Illinois Insurance Code in relation to mine subsidence insurance. Includes within the definition of "insurer" intergovernmental cooperatives that provide Standard Fire Policy and Extended Coverage Endorsements. Authorizes the Illinois Mine Subsidence Insurance Fund to enter into reinsurance agreements with intergovernmental cooperatives that provide joint self-insurance for mine subsidence losses. Amends the Illinois Insurance Code concerning the Illinois Insurance Guaranty Fund. Provides that covered claim does not include certain third party claims against insurers. Repeals certain provisions concerning exhaustion of claims. Provides that an insured or claimant shall be required to first exhaust all coverage provided by any other insurance policy if the claim arises from the same facts, injury, or loss that gave rise to the covered claim against the Fund. Provides that the Fund's obligation shall be reduced by the amount recovered or recoverable, whichever is greater, under the other insurance policy. Provides that to the extent the Fund's obligation is reduced, the liability of the person insured by the insolvent insurer's policy for the claim shall be reduced in the same amount. Makes other changes. CONFERENCE COMMITTEE REPORT NO. 1. Recommends that the Senate recede from S-ams 1 and 2. Recommends that the bill be further amended as follows: Adds reference to: New Act 215 ILCS 5/107.02 from Ch. 73, par. 719.02 215 ILCS 5/107.06a from Ch. 73, par. 719.06a 215 ILCS 5/107.28 new 215 ILCS 5/107.29 new 215 ILCS 5/155.31 new 215 ILCS 5/491.1 from Ch. 73, par. 1065.38-1 215 ILCS 5/499.1 from Ch. 73, par. 1065.46-1 215 ILCS 5/534.3 from Ch. 73, par. 1065.84-3 215 ILCS 5/534.4 from Ch. 73, par. 1065.84-4 215 ILCS 5/538.4 from Ch. 73, par. 1065.88-4 215 ILCS 5/545 from Ch. 73, par. 1065.95 215 ILCS 5/546 from Ch. 73, par. 1065.96 215 ILCS 5/802.1 215 ILCS 5/803.1 215 ILCS 5/107.03 from Ch. 73, par. 719.03 215 ILCS 5/107.05 from Ch. 73, par. 719.05 215 ILCS 5/107.07 from Ch. 73, par. 719.07 215 ILCS 5/107.09 from Ch. 73, par. 719.09 215 ILCS 5/107.13 from Ch. 73, par. 719.13 215 ILCS 5/107.13a from Ch. 73, par. 719.13a 215 ILCS 5/107.15b new 215 ILCS 5/107.17 from Ch. 73, par. 719.17 215 ILCS 5/107.27 from Ch. 73, par. 719.27 215 ILCS 5/107.30 new 215 ILCS 5/107.31 new 215 ILCS 5/107.14 rep. 215 ILCS 5/493.1 rep. Replaces the title and everything after the enacting clause. Incorporates the provisions of House Bill 223 as amended by Senate Amendments Nos. 1 and 2. Amends the Illinois Insurance Code regarding insurance exchanges. Authorizes the organization of additional insurance exchanges. Provides for the organization of new syndicates and the reorganization of additional syndicates. Provides for the runoff of operations of the Illinois Insurance Exchange. Authorizes the exchange to establish annual fees for the admission of syndicates and limited syndicates. Requires the Department of Insurance to obtain annual statements from exchanges. Requires syndicates to file disclosure statements with the Department of Insurance. Abolishes the limit on examination fees. Creates the Employee Leasing Company Act to ensure that an employer that leases its employees obtains workers' compensation insurance for all of its employees and pays the appropriate premium. Requires registration of employee leasing companies. Effective immediately, except that provisions creating the Employee Leasing Company Act and certain provisions relating to insurance exchanges and syndicates take effect January 1, 1998. Last action on Bill: PUBLIC ACT.............................. 90-0499 Last action date: 97-08-19 Location: House Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 1 SENATE - 2 END OF INQUIRY Full Text Bill Status