Sen. William R. Haine
Filed: 4/3/2014
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| 1 | AMENDMENT TO SENATE BILL 644
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| 2 | AMENDMENT NO. ______. Amend Senate Bill 644 by replacing | ||||||
| 3 | everything after the enacting clause with the following:
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| 4 | "Section 5. The Illinois Insurance Code is amended by | ||||||
| 5 | changing Section 143.24d as follows: | ||||||
| 6 | (215 ILCS 5/143.24d) | ||||||
| 7 | Sec. 143.24d. Arbitration of physical damage subrogation | ||||||
| 8 | claims between insurers in certain cases. | ||||||
| 9 | (a) With respect to physical damage subrogation claims | ||||||
| 10 | arising from auto damages incurred on or after January 1, 2012, | ||||||
| 11 | insurers shall arbitrate and settle such claims where the | ||||||
| 12 | amount in controversy, exclusive of the costs of the | ||||||
| 13 | arbitration, is less than $2,500. Such arbitration shall be in | ||||||
| 14 | accordance with the terms of and rules adopted pursuant to the | ||||||
| 15 | Nationwide Inter-Company Arbitration Agreement, or any | ||||||
| 16 | successor thereto, as adopted and from time to time amended by | ||||||
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| 1 | its members, unless the parties on a case-by-case basis | ||||||
| 2 | mutually agree to use another forum; the alternate forum may | ||||||
| 3 | include a court of competent jurisdiction, in which case the | ||||||
| 4 | claim shall be arbitrated or tried in that alternate forum. | ||||||
| 5 | Mandatory arbitration of disputed claims shall be limited | ||||||
| 6 | solely to the issues of liability and damages. Nothing in this | ||||||
| 7 | Section shall preclude a party from seeking resolution in a | ||||||
| 8 | court of competent jurisdiction after a decision has been | ||||||
| 9 | rendered in an arbitration. | ||||||
| 10 | (b) Nothing in this Section shall be interpreted to require | ||||||
| 11 | an insurer to become a member of any organization or to sign | ||||||
| 12 | the Nationwide Inter-Company Arbitration Agreement.
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| 13 | (Source: P.A. 97-513, eff. 1-1-12.)".
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