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HB2687 Engrossed |
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LRB096 11032 RPM 21333 b |
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| AN ACT concerning insurance.
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| Be it enacted by the People of the State of Illinois,
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| represented in the General Assembly:
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| Section 5. The Illinois Insurance Code is amended by |
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| changing Section 143.11 as follows:
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| (215 ILCS 5/143.11) (from Ch. 73, par. 755.11)
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| Sec. 143.11. Cancellation Provisions. All companies |
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| authorized to
transact in this State the kinds of business |
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| enumerated in Section 4 of
the "Illinois Insurance Code" shall |
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| include in their policies, except
life, accident and health, |
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| fidelity and surety, and ocean marine policies,
a cancellation |
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| provision setting out the manner in which such policies may be
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| cancelled. The cancellation provision shall provide that the |
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| policy automatically lapses for nonpayment of premium due |
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| retroactive through the last day of the last month for which |
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| the premium was paid. The insured may also choose to cancel the |
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| group health insurance policy with written notification up to |
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| the last day of the policy year. If any benefits are paid with |
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| a date of service after the preceding policy lapse date, then |
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| the responsibility to pay shall be by the succeeding carrier, |
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| the employer, or by a combination of the parties pursuant to |
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| the terms of the new policy in force. However, nothing |
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| contained in Section 143.12 through Section
143.24 shall apply |