Illinois General Assembly - Bill Status for HB1553
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 Bill Status of HB1553  98th General Assembly


Short Description:  INS CD-DOMESTIC CEDING INSURER

House Sponsors
Rep. Maria Antonia Berrios - Edward J. Acevedo and JoAnn D. Osmond

Last Action
DateChamber Action
  12/3/2014HouseSession Sine Die

Statutes Amended In Order of Appearance
215 ILCS 5/173.1from Ch. 73, par. 785.1


Synopsis As Introduced
Amends the Illinois Insurance Code in the provision concerning credit that is allowed a domestic ceding insurer. Includes additional provisions under which credit shall be allowed when the reinsurance is ceded to an assuming insurer domiciled in certain categories of states. Includes additional requirements to apply to certain categories of assuming insurers. Makes changes to the provision concerning the inception, amendment, and renewal dates of reinsurance agreements. Includes additional provisions under which credit shall be allowed when the reinsurance is ceded to an assuming insurer certified in the State. Sets forth provisions concerning the suspension and revocation of a reinsurer's accreditation or certification, the concentration of risk, and applicability to reinsurance agreements. Makes other changes.

Actions 
DateChamber Action
  2/13/2013HouseFiled with the Clerk by Rep. Maria Antonia Berrios
  2/13/2013HouseFirst Reading
  2/13/2013HouseReferred to Rules Committee
  2/28/2013HouseAdded Co-Sponsor Rep. JoAnn D. Osmond
  5/15/2013HouseAdded Chief Co-Sponsor Rep. Edward J. Acevedo
  12/3/2014HouseSession Sine Die

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