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Sen. John J. Cullerton
Filed: 5/11/2004
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09300HB1075sam001 |
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LRB093 05509 AMC 50510 a |
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| AMENDMENT TO HOUSE BILL 1075
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| AMENDMENT NO. ______. Amend House Bill 1075 by replacing |
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| everything after the enacting clause with the following:
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| "Section 5. The Illinois Insurance Code is amended by |
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| adding Section 155.42 as follows:
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| (215 ILCS 5/155.42 new)
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| Sec. 155.42. Arbitration of automobile physical damage |
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| claims. An insurer that amends, delivers, issues, or renews a |
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| policy of automobile insurance, as defined in Section 143.13, |
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| must arbitrate and settle all motor vehicle physical damage |
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| claims between the insurer and another insurer in accordance |
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| with an automobile subrogation program sponsored by the |
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| intercompany arbitration organization chosen by the insurer. |
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| Any arbitration decision shall be binding for the amount of |
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| damages not exceeding $5,000.
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| Section 99. Effective date. This Act takes effect upon |
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| becoming law.".
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