Bill Text: IL SB3015 | 2013-2014 | 98th General Assembly | Introduced

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Bill Title: Amends the Illinois Insurance Code. Provides that if, after a hearing pursuant to the Code, the Director of Insurance finds that a company has engaged in an improper claims practice, the Director shall order the company to cease and desist from such practices and, in the exercise of reasonable discretion, may suspend the company's certificate of authority for a period not to exceed 6 months or impose a civil penalty of up to $375,000 (rather than $250,000), or both.

Sponsorship: Partisan Bill (Democrat 1)

Status: (Failed) 2015-01-13 - Session Sine Die [SB3015 Detail]

Download: Illinois-2013-SB3015-Introduced.html

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98TH GENERAL ASSEMBLY State of Illinois 2013 and 2014 SB3015 Introduced 2/7/2014, by Sen. Iris Y. Martinez SYNOPSIS AS INTRODUCED:
215 ILCS 5/154.8 from Ch. 73, par. 766.8
Amends the Illinois Insurance Code. Provides that if, after a hearing pursuant to the Code, the Director of Insurance finds that a company has engaged in an improper claims practice, the Director shall order the company to cease and desist from such practices and, in the exercise of reasonable discretion, may suspend the company's certificate of authority for a period not to exceed 6 months or impose a civil penalty of up to $375,000 (rather than $250,000), or both.
LRB098 17342 RPM 52438 b
FISCAL NOTE ACT MAY APPLY
A BILL FOR
SB3015 LRB098 17342 RPM 52438 b
AN ACT concerning regulation.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Section 5. The Illinois Insurance Code is amended by
changing Section 154.8 as follows:
(215 ILCS 5/154.8) (from Ch. 73, par. 766.8)
Sec. 154.8. Cease and Desist Order - Suspension of
Certificate - Civil penalty - Judicial Review.)
(1) If after a hearing pursuant to Section 154.7 the
Director finds that company has engaged in an improper claims
practice, he shall order such company to cease and desist from
such practices and, in the exercise of reasonable discretion,
may suspend the company's certificate of authority for a period
not to exceed 6 months or impose a civil penalty of up to
$375,000 $250,000, or both. Pursuant to Section 401, the
Director shall promulgate reasonable rules and regulations
establishing standards for the implementation of this Section.
(2) Any order of the Director pursuant to this Section is
subject to judicial review under Section 407 of this Code.
(Source: P.A. 86-846.)