Senate Sponsors: WALSH,T-JACOBS-WALSH,L AND HENDON. House Sponsors: MAUTINO-YARBROUGH Short description: INS PRODUCER OWN INSURED DATA Synopsis of Bill as introduced: Amends the Illinois Insurance Code. Provides that policyholders and their insurance producers have exclusive rights to confidential information of an insured relating to the insured and the insured's insurance policy. Prohibits use of that information, commonly known as "expirations", by persons other than the insurance producer for purposes of marketing insurance or other products. Does not apply to life and health insurance or when the producer acts under an exclusive contract with the insurer or when the insured makes written requests for additional insurance sales. Provides for enforcement by the Director of Insurance. Effective immediately. SENATE AMENDMENT NO. 1. Provides that the expirations are owned by the registered firm rather than the insurance producer. Provides an exception from the ownership of expirations rules for situations where producers act primarily for one company or affiliated group of companies and defines the term "primarily". Deletes provision granting producers a right to claim for lost commissions and other relief for violations. SENATE AMENDMENT NO. 3. Deletes reference to: 215 ILCS 5/507.new Adds reference to: 215 ILCS 5/507.2 new Replaces everything after the enacting clause. Amends the Illinois Insurance Code. Provides that policyholders and the registered firms who sold the policy have exclusive rights to confidential information of an insured relating to the insured and the insured's insurance policy. Prohibits use of that information, commonly known as "expirations", by persons or entities other than the registered firm for purposes of marketing insurance or other products. Provides exceptions for banks and other financial institutions. Does not apply to life and health insurance or when the producer acts primarily for one company or an affiliated group of companies or when the insured makes written requests for additional insurance sales. Deletes provision granting producers a right to claim for lost commissions and other relief for violations. Effective immediately. HOUSE AMENDMENT NO. 1. Provides that financial institutions may obtain expiration dates from insurers and others with respect to insurance on collateral used as security for a loan made by the financial institution. Last action on Bill: PUBLIC ACT.............................. 92-0005 Last action date: JUN-01-2001 Location: Senate Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 1 SENATE - 2 END OF INQUIRY Full Text Bill Status