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 Bill Status of SB2973  100th General Assembly


Short Description:  INS CD-EMPLOYERS INS CO

Senate Sponsors
Sen. Daniel Biss

Last Action
DateChamber Action
  4/13/2018SenateRule 3-9(a) / Re-referred to Assignments

Statutes Amended In Order of Appearance
215 ILCS 5/416
215 ILCS 5/Art. XLVI heading new
215 ILCS 5/1700 new
215 ILCS 5/1705 new
215 ILCS 5/1710 new
215 ILCS 5/1715 new
215 ILCS 5/1720 new
215 ILCS 5/1725 new
215 ILCS 5/1730 new
215 ILCS 5/1735 new
215 ILCS 5/1740 new
215 ILCS 5/1745 new
215 ILCS 5/1750 new
215 ILCS 5/1755 new
215 ILCS 5/1760 new
215 ILCS 5/1765 new


Synopsis As Introduced
Amends the Illinois Insurance Code. In the provision concerning the Illinois Workers' Compensation Commission Operations Fund surcharge, provides that after the effective date of the amendatory Act, the Director of Insurance shall make a loan of $10,000,000 to the Illinois Employers Mutual Insurance Company (the Company) from the Illinois Workers' Compensation Commission Operations Fund for the start-up funding and initial capitalization of the Company. Creates the Illinois Employers Mutual Insurance Company Article in the Code and establishes the Company as a nonprofit, independent public corporation. Provides that the Company (1) shall be operated as a domestic mutual insurance company, subject to all applicable provisions of the Code, (2) shall issue insurance for workers' compensation and occupational disease and shall not provide any other type of insurance, (3) shall not be considered a State agency or instrumentality of the State for any purpose, and (4) shall not receive any State appropriations or funds, except for an initial loan or loans. Sets forth provisions concerning a board of directors, ratemaking, the Illinois Insurance Guaranty Fund, a chief executive officer, liability, a workplace safety plan, investments, dividends, the sale of policies, auditing requirements, and an annual report. Effective immediately.

Actions 
DateChamber Action
  2/15/2018SenateFiled with Secretary by Sen. Daniel Biss
  2/15/2018SenateFirst Reading
  2/15/2018SenateReferred to Assignments
  2/21/2018SenateAssigned to Judiciary
  2/27/2018SenatePostponed - Judiciary
  3/14/2018SenatePostponed - Judiciary
  4/11/2018SenatePostponed - Judiciary
  4/13/2018SenateRule 3-9(a) / Re-referred to Assignments

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