Full Text of SB1706 100th General Assembly
SB1706 100TH GENERAL ASSEMBLY
100TH GENERAL ASSEMBLY
State of Illinois
2017 and 2018
Introduced 2/9/2017, by Sen. Jacqueline Y. Collins
SYNOPSIS AS INTRODUCED:
Amends the Use of Credit Information in Personal Insurance Act. Makes
change in a Section concerning definitions.
A BILL FOR
|SB1706||LRB100 11335 SMS 21712 b|
AN ACT concerning regulation.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
The Use of Credit Information in Personal
Insurance Act is amended by changing Section 15 as follows:
(215 ILCS 157/15)
purposes of this Act,
these defined words
"Adverse action" means a denial or cancellation of, an
increase in any charge
a reduction or other adverse or
unfavorable change in the terms of coverage or
amount of, any
insurance, existing or applied for, in connection with the
underwriting of personal insurance.
"Affiliate" means any company that controls, is controlled
by, or is under
control with another company.
"Applicant" means an individual who has applied to be
covered by a personal
insurance policy with an insurer.
"Consumer" means an insured or an applicant for a personal
credit information is used or whose
insurance score is calculated in the
underwriting or rating of
a personal insurance policy.
"Consumer reporting agency" means any person that, for
monetary fees or dues
or on a
cooperative nonprofit basis,
|SB1706||- 2 -||LRB100 11335 SMS 21712 b|
regularly engages in whole or in part in the
assembling or evaluating consumer credit information or other
consumers for the purpose of furnishing consumer
reports to third parties.
"Credit information" means any credit-related information
derived from a
report, found on a credit report itself,
or provided on an application for
Information that is not credit-related shall not be considered
information," regardless of whether it is contained in
a credit report or in an
application or is used to calculate an
"Credit report" means any written, oral, or other
information by a
consumer reporting agency
bearing on a consumer's credit worthiness, credit
credit capacity, that is used or expected to be used or
whole or in part for the purpose of serving as a
factor to determine personal
insurance premiums, eligibility
for coverage, or tier placement.
"Department" means the Department of Insurance.
"Insurance score" means a number or rating that is derived
from an algorithm,
application, model, or other
process that is based in whole or in part on
for the purposes of predicting the future insurance loss
individual applicant or insured.
(Source: P.A. 93-114, eff. 10-1-03.)