Illinois General Assembly - Bill Status for HB3987

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Bill Status of HB3987 97th General Assembly

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Short Description: INS CD-DOMESTIC CEDING INSURER

House Sponsors
Rep. Greg Harris and Patrick J. Verschoore

Last Action

Date	Chamber	Action
1/8/2013	House	Session Sine Die

Statutes Amended In Order of Appearance

215 ILCS 5/173.1

from Ch. 73, par. 785.1

Synopsis As Introduced
Amends the Illinois Insurance Code in the provision concerning credit that is allowed a domestic ceding insurer. Includes additional provisions under which credit shall be allowed when the reinsurance is ceded to an assuming insurer domiciled in certain categories of states. Includes additional requirements to apply to certain categories of assuming insurers. Makes changes to the provision concerning the inception, amendment, and renewal dates of reinsurance agreements. Includes additional provisions under which credit shall be allowed when the reinsurance is ceded to an assuming insurer certified in the State. Sets forth provisions concerning the suspension and revocation of a reinsurer's accreditation or certification, the concentration of risk, and applicability to reinsurance agreements. Makes other changes.

Actions

Date	Chamber	Action
1/17/2012	House	Filed with the Clerk by Rep. Greg Harris
1/18/2012	House	First Reading
1/18/2012	House	Referred to Rules Committee
3/7/2012	House	Added Co-Sponsor Rep. Patrick J. Verschoore
1/8/2013	House	Session Sine Die

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