|
Rep. Tracy Katz Muhl
Filed: 4/15/2024
| | 10300HB5559ham004 | | LRB103 39018 RPS 72319 a |
|
|
| 1 | | AMENDMENT TO HOUSE BILL 5559
|
| 2 | | AMENDMENT NO. ______. Amend House Bill 5559 by replacing |
| 3 | | everything after the enacting clause with the following:
|
| 4 | | "Section 5. The Illinois Insurance Code is amended by |
| 5 | | adding Section 154.10 as follows:
|
| 6 | | (215 ILCS 5/154.10 new) |
| 7 | | Sec. 154.10. Description of the determination of a total |
| 8 | | loss of a vehicle. Upon the determination of a total loss of an |
| 9 | | insured vehicle, the insurance company shall provide the |
| 10 | | insured with a brief description of how that determination was |
| 11 | | made, including any available repair estimate, estimated |
| 12 | | vehicle salvage value, assessed market value, and other costs |
| 13 | | and calculations used. This Section applies to policies issued |
| 14 | | or renewed on or after July 1, 2025.". |