Illinois Senate Bill 870 (Prior Session Legislation)

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Completed Legislative Action
Spectrum: Moderate Partisan Bill (Democrat 4-1)
Status: Passed on December 16 2016 - 100% progression
Action: 2016-12-16 - Public Act . . . . . . . . . 99-0909
Text: Latest bill text (Chaptered) [HTML]

Amends the Illinois Insurance Code in the Section concerning credit allowed a domestic ceding insurer. Provides that the assuming insurer shall provide or make certain information to be reported to the Director of Insurance available to the ceding insurer and that the assuming insurer may decline to release trade secrets or commercially sensitive information that would qualify as exempt from disclosure under the Freedom of Information Act. With regard to an assuming insurer's trust fund, provides that not later than February 28 of each year, the assuming insurer's chief executive officer or chief financial officer shall certify to the Director that the trust fund contains funds in an amount not less than the assuming insurer's liabilities attributable to reinsurance ceded by U.S. ceding insurers, and in addition, a trusteed surplus of not less than $20,000,000. Permits a reduction in the required trusteed surplus in specified circumstances. Provides that in the event that the provision concerning the reduction in the required trusteed surplus applies to the trust, the assuming insurer's chief executive officer or chief financial officer shall then certify to the Director that the trust fund contains funds in an amount not less than the assuming insurer's liabilities attributable to reinsurance ceded by U.S. ceding insurers, and in addition, a reduced trusteed surplus of not less than the amount that has been authorized by the regulatory authority having principal regulatory oversight of the trust. Makes changes to the provisions concerning financial strength ratings. Sets forth provisions concerning downgrades by rating agencies, the Director's authority, upgrading the rating of a certified reinsurer, and the revocation of the certification of a certified reinsurer. Makes other changes.

INS CD-DOMESTIC CEDING INSURER

Sen. Iris Martinez [D]	Sen. William Haine [D]	Sen. Pamela Althoff [R]	Rep. Anna Moeller [D]
Rep. Michael Zalewski [D]

2016-12-01 - Senate - Concurrence in Senate (Y: 51 N: 0 NV: 8 Abs: 0) [PASS]
2016-12-01 - Senate - Concurrence in Senate (Y: 51 N: 0 NV: 8 Abs: 0) [PASS]
2016-11-16 - House - Third Reading in House (Y: 107 N: 0 NV: 2 Abs: 0) [PASS]
2015-04-16 - Senate - Third Reading in Senate (Y: 54 N: 1 NV: 4 Abs: 0) [PASS]

Date	Chamber	Action
2016-12-16	Senate	Public Act . . . . . . . . . 99-0909
2016-12-16	Senate	Effective Date January 1, 2017; Some Portions
2016-12-16	Senate	Effective Date December 16, 2016; Some Portions
2016-12-16	Senate	Governor Approved
2016-12-15	Senate	Sent to the Governor
2016-12-01	Senate	Passed Both Houses
2016-12-01	Senate	Senate Concurs
2016-12-01	Senate	House Floor Amendment No. 2 Senate Concurs 051-000-000
2016-12-01	Senate	House Committee Amendment No. 1 Senate Concurs 051-000-000
2016-12-01	Senate	3/5 Vote Required
2016-11-29	Senate	House Floor Amendment No. 2 Motion To Concur Recommended Do Adopt Licensed Activities and Pensions; 007-000-000
2016-11-29	Senate	House Committee Amendment No. 1 Motion To Concur Recommended Do Adopt Licensed Activities and Pensions; 007-000-000
2016-11-29	Senate	House Floor Amendment No. 2 Motion to Concur Assignments Referred to Licensed Activities and Pensions
2016-11-29	Senate	House Committee Amendment No. 1 Motion to Concur Assignments Referred to Licensed Activities and Pensions
2016-11-16	Senate	Added as Chief Co-Sponsor Sen. Pamela J. Althoff
2016-11-16	Senate	House Floor Amendment No. 2 Motion to Concur Referred to Assignments
2016-11-16	Senate	House Floor Amendment No. 2 Motion to Concur Filed with Secretary Sen. Iris Y. Martinez
2016-11-16	Senate	House Committee Amendment No. 1 Motion to Concur Referred to Assignments
2016-11-16	Senate	House Committee Amendment No. 1 Motion to Concur Filed with Secretary Sen. Iris Y. Martinez
2016-11-16	Senate	Placed on Calendar Order of Concurrence House Amendment(s) 1, 2 - November 29, 2016
2016-11-16	Senate	Secretary's Desk - Concurrence House Amendment(s) 1, 2
2016-11-16	House	Third Reading - Short Debate - Passed 107-000-000
2016-11-16	House	Added Alternate Chief Co-Sponsor Rep. Michael J. Zalewski
2016-11-16	House	Alternate Chief Sponsor Changed to Rep. Anna Moeller
2016-11-16	House	3/5 Vote Required
2016-11-16	House	Placed on Calendar Order of 3rd Reading - Short Debate
2016-11-16	House	House Floor Amendment No. 2 Adopted
2016-11-16	House	Recalled to Second Reading - Short Debate
2016-11-15	House	House Floor Amendment No. 2 Recommends Be Adopted Health Care Licenses Committee; 011-000-000
2016-11-14	House	House Floor Amendment No. 2 Rules Refers to Health Care Licenses Committee
2016-11-14	House	House Floor Amendment No. 2 Referred to Rules Committee
2016-11-14	House	House Floor Amendment No. 2 Filed with Clerk by Rep. Michael J. Zalewski
2016-11-09	House	Placed on Calendar Order of 3rd Reading - Short Debate
2016-11-09	House	Approved for Consideration Rules Committee; 003-000-000
2016-04-28	House	Rule 19(a) / Re-referred to Rules Committee
2016-01-29	House	Final Action Deadline Extended-9(b) April 28, 2016
2015-12-04	House	Final Action Deadline Extended-9(b) January 29, 2016
2015-10-30	House	Final Action Deadline Extended-9(b) December 4, 2015
2015-10-20	House	Alternate Chief Sponsor Changed to Rep. Michael J. Zalewski
2015-10-20	House	Placed on Calendar Order of 3rd Reading - Short Debate
2015-10-20	House	Second Reading - Short Debate
2015-10-20	Senate	Chief Sponsor Changed to Sen. Iris Y. Martinez
2015-10-20	House	Placed on Calendar 2nd Reading - Short Debate
2015-10-20	House	Do Pass as Amended / Short Debate Health Care Licenses Committee; 011-000-000
2015-10-20	House	House Committee Amendment No. 1 Adopted in Health Care Licenses Committee; by Voice Vote
2015-10-19	House	House Committee Amendment No. 1 Rules Refers to Health Care Licenses Committee
2015-10-19	House	House Committee Amendment No. 1 Referred to Rules Committee
2015-10-19	House	House Committee Amendment No. 1 Filed with Clerk by Rep. Michael J. Zalewski
2015-10-14	House	Final Action Deadline Extended-9(b) October 31, 2015
2015-10-14	House	Assigned to Health Care Licenses Committee
2015-04-16	House	Referred to Rules Committee
2015-04-16	House	First Reading
2015-04-16	House	Chief House Sponsor Rep. Anthony DeLuca
2015-04-16	House	Arrived in House
2015-04-16	Senate	Third Reading - Passed; 054-001-000
2015-03-25	Senate	Placed on Calendar Order of 3rd Reading March 26, 2015
2015-03-25	Senate	Second Reading
2015-03-12	Senate	Placed on Calendar Order of 2nd Reading March 17, 2015
2015-03-12	Senate	Do Pass Insurance; 011-004-000
2015-03-10	Senate	Added as Chief Co-Sponsor Sen. William R. Haine
2015-02-17	Senate	Assigned to Insurance
2015-02-11	Senate	Referred to Assignments
2015-02-11	Senate	First Reading
2015-02-11	Senate	Filed with Secretary by Sen. Antonio Muñoz

Chapter	Article	Section	Citation Type	Statute Text
215	5	173.1	Amended Code	Citation Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=870&GAID=13&DocTypeID=SB&SessionID=88&GA=99
Text	https://www.ilga.gov/legislation/99/SB/09900SB0870.htm
Text	https://www.ilga.gov/legislation/99/SB/09900SB0870eng.htm
Text	https://www.ilga.gov/legislation/99/SB/09900SB0870enr.htm
Text	https://www.ilga.gov/legislation/publicacts/99/099-0909.htm
Amendment	https://www.ilga.gov/legislation/99/SB/09900SB0870ham001.htm
Amendment	https://www.ilga.gov/legislation/99/SB/09900SB0870ham002.htm
Roll Call	https://www.ilga.gov/legislation/votehistory/99/senate/09900SB0870_04162015_010000T.pdf
Roll Call	https://www.ilga.gov/legislation/votehistory/99/house/09900SB0870_11162016_002000T.pdf
Roll Call	https://www.ilga.gov/legislation/votehistory/99/senate/09900SB0870_12012016_001001C.pdf
Roll Call	https://www.ilga.gov/legislation/votehistory/99/senate/09900SB0870_12012016_001000C.pdf