Bill Text: IL HB2618 | 2013-2014 | 98th General Assembly | Veto Message
Bill Title: Amends the Illinois Insurance Code in the provision concerning mine subsidence coverage. Provides that as set forth in the provisions concerning (1) the inclusion of certain coverage at separately stated premiums and (2) premium levels, losses, and reinsurance, a policy issued or renewed must provide coverage, unless waived in writing by the insured, and must continue to charge the premium level set for that coverage by the Mine Subsidence Insurance Fund. Provides that a mine subsidence event or events create no additional duty for the insurer in relation to the issuance or renewal of coverage, including, without limitation, any duty to advise the insured as to whether to continue that coverage.
Spectrum: Bipartisan Bill
Status: (Failed) 2014-02-18 - Total Veto Stands - No Positive Action Taken [HB2618 Detail]
Download: Illinois-2013-HB2618-Veto_Message.html
January 7, 2013
To the Honorable Members of the Illinois House of Representatives,
98th General Assembly:
House Bill 2618 is an attempt to protect consumer in the unfortunate event of damage to their home or business as a result of mine subsidence. The legislation requires insurance companies to notify an insured individual that they may no longer need to pay for mine subsidence coverage after their claim has been filed. The decision to cancel coverage is then left to the insured individual--the coverage will only be terminated upon written notification by the consumer to the insurance company that they are cancelling their coverage. After hearing from members of the General Assembly and Illinois citizens regarding their concerns with this bill, I believe that the insurance industry needs to go further in protecting consumers by educating them on the use of their premium payments beyond the date of their claim and ensuring they are fully informed and aware of their right to cancel a policy.
As Governor, I am deeply committed to protecting Illinois citizens and, as such, must return this bill without my approval. Therefore, pursuant to Article IV, Section 9(b) of the Illinois Constitution of 1970, I hereby return House Bill 2618, entitled “AN ACT concerning regulation.”, with the foregoing objections, vetoed in its entirety.
Sincerely,
Pat Quinn
GOVERNOR
