Bill Title: Amends the Illinois Insurance Code in the provision concerning credit allowed a domestic ceding insurer. Provides that credit shall also be allowed when reinsurance is ceded to an assuming insurer that holds surplus, or its equivalent, in excess of $250 million and the Director of Insurance determines that it is an acceptable credit risk. Provides that in determining whether credit should be allowed, the Director shall consider certain factors. Effective immediately.

Spectrum: Slight Partisan Bill (Democrat 2-1)

Status: (Failed) 2013-01-08 - Session Sine Die [SB1760 Detail]

Text: Latest bill text (Introduced) [HTML]

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