Bill Title: Amends the Illinois Insurance Code. Provides that if the Illinois Insurance Guaranty Fund pays a covered claim without the exhaustion of other coverage, the Fund shall have an independent right of recovery against each insurer whose coverage was not exhausted. Provides that the extent of the Fund's subrogation rights and any other rights of reimbursement with respect to its covered claims payments shall be determined independently by taking into account the Fund's independent rights of recovery. Effective immediately.

Spectrum: Partisan Bill (Democrat 3-0)

Status: (Passed) 2015-08-17 - Public Act . . . . . . . . . 99-0387 [SB1782 Detail]

Text: Latest bill text (Chaptered) [HTML]

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