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IL SB2746
Bill
Status
1/13/2021
Primary Sponsor
Ann Gillespie
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AI Summary
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Prohibits mandatory arbitration clauses in fully insured health, life, and disability income insurance policies issued or renewed in Illinois on or after January 1, 2021
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Bans "discretionary clauses" that reserve the right for insurers to interpret the terms of their own contracts in life, accidental death and dismemberment, health care services, or disability income policies
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Prohibits policy provisions that establish standards of interpretation or review inconsistent with Illinois state law
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Applies to all policies, contracts, certificates, endorsements, riders, applications, or agreements amended, delivered, issued, or renewed in the state
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Takes effect immediately upon becoming law
Legislative Description
INS CD-MANDATORY ARBITRATION
Last Action
Session Sine Die
1/13/2021