Illinois General Assembly - Bill Status for HB0047
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 Bill Status of HB0047  103rd General Assembly


House Sponsors
Rep. Jay Hoffman

Senate Sponsors
(Sen. Napoleon Harris, III)

Last Action
DateChamber Action
  6/30/2023HousePublic Act . . . . . . . . . 103-0113

Statutes Amended In Order of Appearance
215 ILCS 5/533from Ch. 73, par. 1065.83
215 ILCS 5/534from Ch. 73, par. 1065.84
215 ILCS 5/534.9 new
215 ILCS 5/537.2from Ch. 73, par. 1065.87-2
215 ILCS 5/537.7from Ch. 73, par. 1065.87-7
215 ILCS 5/538.2from Ch. 73, par. 1065.88-2
215 ILCS 5/545from Ch. 73, par. 1065.95

Synopsis As Introduced
Amends the Illinois Insurance Code. Provides that if the entry of an Order of Liquidation occurs on or after January 1, 2023, then the obligations shall not exceed $500,000 or exceed without any deduction $50,000 for any unearned premium claim or refund under any one policy. Provides that in no event shall the Fund be obligated to pay an amount in excess of $500,000 in the aggregate for all first-party and third-party claims under a policy or endorsement providing cybersecurity insurance coverage and arising out of or related to a single insured event, regardless of the number of claims made or number of claimants. Provides that the Illinois Insurance Guaranty Fund shall have the right to appoint or approve and to direct legal counsel and other service providers under any other insurance policies subject to the provisions, regardless of any limitations in the policy. Provides that the Fund may employ or retain such persons as are necessary to provide policy benefits and services. Provides that the Fund may, at its sole discretion and without assumption of any ongoing duty to do so, pay any cybersecurity insurance obligations covered by a policy of an insolvent company on behalf of a high net worth insured. Defines cybersecurity insurance. Makes other changes. Effective immediately.

DateChamber Action
  12/5/2022HousePrefiled with Clerk by Rep. Jay Hoffman
  1/12/2023HouseFirst Reading
  1/12/2023HouseReferred to Rules Committee
  2/7/2023HouseAssigned to Insurance Committee
  2/21/2023HouseDo Pass / Short Debate Insurance Committee; 014-000-000
  2/22/2023HousePlaced on Calendar 2nd Reading - Short Debate
  3/14/2023HouseSecond Reading - Short Debate
  3/14/2023HousePlaced on Calendar Order of 3rd Reading - Short Debate
  3/15/2023HouseThird Reading - Short Debate - Passed 114-000-000
  3/21/2023SenateArrive in Senate
  3/21/2023SenatePlaced on Calendar Order of First Reading
  3/21/2023SenateChief Senate Sponsor Sen. Napoleon Harris, III
  3/21/2023SenateFirst Reading
  3/21/2023SenateReferred to Assignments
  4/12/2023SenateApproved for Consideration Assignments
  4/12/2023SenatePlaced on Calendar Order of 2nd Reading April 18, 2023
  4/20/2023SenateSecond Reading
  4/20/2023SenatePlaced on Calendar Order of 3rd Reading April 25, 2023
  5/5/2023SenatePlaced on Calendar Order of 3rd Reading ** May 8, 2023
  5/11/2023SenateThird Reading - Passed; 056-000-000
  5/11/2023HousePassed Both Houses
  6/9/2023HouseSent to the Governor
  6/30/2023HouseGovernor Approved
  6/30/2023HouseEffective Date June 30, 2023
  6/30/2023HousePublic Act . . . . . . . . . 103-0113

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