IL HB5841

Re-enacts provisions of Public Act 94-677 to the Illinois Insurance Code (Sections 155.18, 155.18a, 155.19, and 1204) that were declared unconstitutional by the Illinois Supreme Court in Lebron v. Gottlieb Memorial Hospital, with validation of actions taken in reliance on those provisions.

Establishes standards for medical liability insurance rates, including requirements that rates not be excessive, inadequate, or unfairly discriminatory, and mandates filing with the Director of Insurance and public hearings for rate increases exceeding 6%.

Requires medical liability insurers to offer quarterly premium payment options and encourages (but does not require) offering deductible plans and risk management premium discount plans.

Mandates reporting of all medical liability claims and suits filed after December 31, 2005, to the Department of Insurance with detailed claims data and disposition information to be made available to the public and appropriate licensing agencies.

Makes revisory changes throughout to reflect the re-establishment of the Department of Insurance as a separate department under the Director of Insurance (replacing previous references to the Secretary of Financial and Professional Regulation).