IL SB1737 | 2017-2018 | 100th General Assembly

Status

Spectrum: Slight Partisan Bill (Democrat 5-3)
Status: Enrolled on May 31 2018 - 75% progression
Action: 2018-06-29 - Sent to the Governor
Text: Latest bill text (Enrolled) [HTML]

Summary

Amends the Illinois Insurance Code in provisions 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 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.

Tracking Information

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Title

INS CD-DOMESTIC CEDING INSURER

Sponsors


Roll Calls

2018-05-31 - Senate - Concurrence in Senate (Y: 42 N: 5 NV: 12 Abs: 0) [PASS]
2018-05-31 - Senate - Concurrence in Senate (Y: 42 N: 5 NV: 12 Abs: 0) [PASS]
2018-05-31 - House - Third Reading in House (Y: 85 N: 28 NV: 1 Abs: 0) [PASS]
2017-04-27 - Senate - Third Reading in Senate (Y: 57 N: 0 NV: 2 Abs: 0) [PASS]

History

DateChamberAction
2018-06-29SenateSent to the Governor
2018-05-31SenatePassed Both Houses
2018-05-31SenateSenate Concurs
2018-05-31SenateHouse Floor Amendment No. 2 Senate Concurs 042-005-000
2018-05-31SenateHouse Floor Amendment No. 1 Senate Concurs 042-005-000
2018-05-31SenateHouse Floor Amendment No. 2 Motion to Concur Be Approved for Consideration Assignments
2018-05-31SenateHouse Floor Amendment No. 1 Motion to Concur Be Approved for Consideration Assignments
2018-05-31SenateHouse Floor Amendment No. 2 Motion to Concur Referred to Assignments
2018-05-31SenateHouse Floor Amendment No. 2 Motion to Concur Filed with Secretary Sen. Antonio Muñoz
2018-05-31SenateHouse Floor Amendment No. 1 Motion to Concur Referred to Assignments
2018-05-31SenateHouse Floor Amendment No. 1 Motion to Concur Filed with Secretary Sen. Antonio Muñoz
2018-05-31SenatePlaced on Calendar Order of Concurrence House Amendment(s) 1, 2 - May 31, 2018
2018-05-31SenateSecretary's Desk - Concurrence House Amendment(s) 1, 2
2018-05-31HouseAdded Alternate Chief Co-Sponsor Rep. Michael J. Zalewski
2018-05-31HouseThird Reading - Standard Debate - Passed 085-028-000
2018-05-31HouseAdded Alternate Co-Sponsor Rep. LaToya Greenwood
2018-05-31HouseAdded Alternate Co-Sponsor Rep. Katie Stuart
2018-05-31HousePlaced on Calendar Order of 3rd Reading - Standard Debate
2018-05-31HouseRemoved from Short Debate Status
2018-05-31HousePlaced on Calendar Order of 3rd Reading - Short Debate
2018-05-31HouseHouse Floor Amendment No. 2 Adopted
2018-05-31HouseHouse Floor Amendment No. 1 Adopted
2018-05-31HouseHouse Floor Amendment No. 1 Fiscal Note Filed as Amended
2018-05-31HouseAdded Alternate Chief Co-Sponsor Rep. Dan Brady
2018-05-31HouseHouse Floor Amendment No. 2 Recommends Be Adopted Rules Committee; 004-000-000
2018-05-31HouseHouse Floor Amendment No. 2 Referred to Rules Committee
2018-05-31HouseHouse Floor Amendment No. 2 Filed with Clerk by Rep. Jay Hoffman
2018-05-31HouseAdded Alternate Chief Co-Sponsor Rep. Norine K. Hammond
2018-05-31HouseAdded Alternate Chief Co-Sponsor Rep. Michael D. Unes
2018-05-30HouseHouse Floor Amendment No. 1 Recommends Be Adopted Labor & Commerce Committee; 017-010-000
2018-05-30HouseHouse Floor Amendment No. 1 Rules Refers to Labor & Commerce Committee
2018-05-30HouseHouse Floor Amendment No. 1 Referred to Rules Committee
2018-05-30HouseHouse Floor Amendment No. 1 Filed with Clerk by Rep. Jay Hoffman
2018-05-29HouseHeld on Calendar Order of Second Reading - Short Debate
2018-05-29HouseSecond Reading - Short Debate
2018-05-29HousePlaced on Calendar 2nd Reading - Short Debate
2018-05-29HouseDo Pass / Short Debate Executive Committee; 011-000-000
2018-05-28HouseMotion to Suspend Rule 21 - Prevailed
2018-05-28HouseMotion Filed to Suspend Rule 21 Executive Committee; Rep. Barbara Flynn Currie
2018-05-28HouseFinal Action Deadline Extended-9(b) May 31, 2018
2018-05-28HouseAssigned to Executive Committee
2018-05-25HouseAlternate Chief Sponsor Changed to Rep. Jay Hoffman
2017-05-31HouseRule 19(a) / Re-referred to Rules Committee
2017-05-26HouseFinal Action Deadline Extended-9(b) May 31, 2017
2017-05-19HouseCommittee Deadline Extended-Rule 9(b) May 26, 2017
2017-05-09HouseAssigned to Executive Committee
2017-04-27HouseReferred to Rules Committee
2017-04-27HouseFirst Reading
2017-04-27HouseChief House Sponsor Rep. Michael J. Zalewski
2017-04-27HouseArrived in House
2017-04-27SenateThird Reading - Passed; 057-000-000
2017-04-06SenatePlaced on Calendar Order of 3rd Reading April 25, 2017
2017-04-06SenateSecond Reading
2017-03-09SenatePlaced on Calendar Order of 2nd Reading March 14, 2017
2017-03-09SenateDo Pass Insurance; 011-000-000
2017-02-28SenateAssigned to Insurance
2017-02-09SenateReferred to Assignments
2017-02-09SenateFirst Reading
2017-02-09SenateFiled with Secretary by Sen. Antonio Muñoz

Code Citations

ChapterArticleSectionCitation TypeStatute Text
2155173.1Amended CodeCitation Text

Illinois State Sources

TypeSource
Summaryhttp://www.ilga.gov/legislation/BillStatus.asp?DocNum=1737&GAID=14&DocTypeID=SB&SessionID=91&GA=100
Texthttp://www.ilga.gov/legislation/100/SB/10000SB1737.htm
Texthttp://www.ilga.gov/legislation/100/SB/10000SB1737eng.htm
Texthttp://www.ilga.gov/legislation/100/SB/10000SB1737enr.htm
Amendmenthttp://www.ilga.gov/legislation/100/SB/10000SB1737ham001.htm
Amendmenthttp://www.ilga.gov/legislation/100/SB/10000SB1737ham002.htm
Roll Callhttp://www.ilga.gov/legislation/votehistory/100/senate/10000SB1737_04272017_031000T.pdf
Roll Callhttp://www.ilga.gov/legislation/votehistory/100/house/10000SB1737_05312018_014000T.pdf
Roll Callhttp://www.ilga.gov/legislation/votehistory/100/senate/10000SB1737ham002_05312018_076001C.pdf
Roll Callhttp://www.ilga.gov/legislation/votehistory/100/senate/10000SB1737ham001_05312018_076000C.pdf

Bill Comments

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