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IL SB2608
Bill
Status
Passed
8/1/2014
Primary Sponsor
Jason Barickman
Click for details
AI Summary
- Adds Section 155.45 to the Illinois Insurance Code to regulate certificates of insurance for property and casualty coverage
- Prohibits certificates of insurance from amending, extending, or altering coverage provided under the underlying insurance policy
- Prohibits preparing, issuing, or requiring certificates of insurance that contain false or misleading information or alter policy coverage
- Prohibits certificates from warranting that the underlying policy complies with contract insurance or indemnification requirements
- Establishes that persons listed on certificates have no automatic notice rights for policy cancellation, nonrenewal, or material changes unless expressly stated in the policy itself
- Declares certificates of insurance prepared in violation of these provisions to be void
- Authorizes the Department of Insurance Director to examine violations and impose penalties under Section 401 of the Illinois Insurance Code
Legislative Description
INS CD-CERTIFICATE-INSURANCE
Last Action
Public Act . . . . . . . . . 98-0819
8/1/2014
Committee Referrals
Insurance4/23/2014
Rules3/6/2014
Insurance1/29/2014
Assignments10/22/2013
Full Bill Text
No bill text available