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IL SB1967
Bill
AI Summary
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Amends Section 154 of the Illinois Insurance Code regarding misrepresentation and false warranties in insurance policies.
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Prohibits insurance companies from denying, avoiding, or rescinding policies based on readily available information obtained after a loss or claim if the company chose not to obtain that information before issuing the policy.
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Defines "readily available information" as data appearing on motor vehicle records (MVR) maintained by the Secretary of State or LexisNexis Comprehensive Loss Underwriting Exchange (C.L.U.E.) Auto Reports, or equivalent subsequent systems.
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Applies to named insureds and drivers whose information was provided by applicants at time of application.
Legislative Description
INS CD-RESCIND-AVAILABLE INFO
Last Action
Session Sine Die
1/9/2019