Illinois General Assembly - Bill Status for HB1555

Amends the Illinois Insurance Code. In the Article concerning Public Insurance Adjusters, changes the definition of "Public Insurance Adjuster". Provides that no person may solicit or hold himself out to be in the business of adjusting insurance claims. Deletes provisions regarding the issuance of a Public Insurance Adjuster license. Provides that each Public Insurance Adjuster license shall contain the business address of the Public Insurance Adjuster and that the holder of license shall notify the Director of Insurance, in writing, of a change of business address within 30 days of the change. Provides that no person may engage in the business of adjusting insurance claims unless such person is licensed pursuant to the Article and registered with the Director. Provides that a Public Insurance Adjuster shall provide the insured with a document setting forth the scope, amount, and value of the damages prior to requesting the insured for authority to settling any loss. Provides that a Public Insurance Adjuster may not refer the insured to a contractor to perform fire restoration or repairs other than construction caused by the loss giving rise to the claim for which the Public Insurance Adjuster was retained. Provides that in all cases where the loss giving rise to the claim for which the Public Adjuster was retained arise from damage to a personal residence, the insurance proceeds shall be delivered to the named insured. Provides that neither a Public Insurance Adjuster nor any of his or her representatives must physically appear at the damaged premises during the first 3 business days following the loss-producing occurrence or the departure of the fire department or its representatives from the damaged premises, whichever is later. Provides certain limitations on the business ownership interests of Public Insurance Adjusters. Makes other changes.

Replaces everything after the enacting clause. Amends the Illinois Insurance Code. In the Article concerning Public Insurance Adjusters, changes the definition of "Public Insurance Adjuster". Provides that no person may solicit or hold himself out to be in the business of adjusting insurance claims unless licensed or registered. Provides that each Public Insurance Adjuster license shall contain the business address of the Public Insurance Adjuster and that the holder of license shall notify the Director of Insurance, in writing, of a change of business address within 30 days of the change. Provides that no person shall engage in the business of adjusting insurance claims unless person is licensed pursuant to the Article and registered with the Director. Provides that registered firm may only be comprised of licensed Public Insurance Adjusters. Provides that a Public Insurance Adjuster shall not agree to any loss settlement without the insured's knowledge and consent and shall provide the insured with a document setting forth the scope, amount, and value of the damages prior to requesting the insured for authority to settling any loss. Provides that in all cases where the loss giving rise to the claim for which the Public Insurance Adjuster was retained arise from damage to a personal residence, the insurance proceeds shall be delivered in person to the named insured or his or her designee. Provides that a Public Insurance Adjuster shall not advance money or any valuable consideration to an insured pending adjustment of a claim or provide legal advice or representation to the insure, or engage in the unauthorized practice of law. Provides that a Public Insurance Adjuster shall disclose to the insured if he or she has any interest or will be compensated by certain business that perform any work in conjunction with the damages caused by the insured loss. Makes other changes.

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