Bill Status of HB5102  95th General Assembly

Short Description:  INS CD-ANNUAL STATEMENTS

House Sponsors
Rep. Dan Brady

Senate Sponsors
(Sen. William R. Haine)

Last Action
DateChamber Action
  1/13/2009HouseSession Sine Die

Statutes Amended In Order of Appearance
215 ILCS 5/136from Ch. 73, par. 748


Synopsis As Introduced
Amends the Illinois Insurance Code. Provides that every property and casualty insurance company doing business in this State, unless otherwise exempted by the Director of Insurance, shall annually submit the opinion of an appointed actuary entitled "Statement of Actuarial Opinion". Provides that the opinion shall be filed in accordance with the appropriate National Association of Insurance Commissioners Property and Casualty Annual Statement Instructions. Provides that every property and casualty insurance company domiciled in this State that is required to submit a Statement of Actuarial Opinion shall annually submit an Actuarial Opinion Summary, written by the company's appointed actuary. Provides that an Actuarial Report and underlying workpapers as required by the appropriate National Association of Insurance Commissioners Property and Casualty Annual Statement Instructions shall be prepared to support each Actuarial Opinion. Provides that the appointed actuary shall not be liable for damages to any person (other than the insurance company and the Director) for any act, error, omission, decision, or conduct with respect to the actuary's opinion, except in cases of fraud or willful misconduct on the part of the appointed actuary. Makes other changes. Effective immediately.

House Committee Amendment No. 1
Provides that there is no rulemaking authority under the amendatory Act, but that the Governor may suggest rules by filing them with the General Assembly and requesting that the General Assembly authorize such rulemaking by law, enact the suggested rules into law, or take other appropriate action in the General Assembly's discretion. Make a technical correction.

Actions 
DateChamber Action
  2/13/2008HouseFiled with the Clerk by Rep. Dan Brady
  2/14/2008HouseFirst Reading
  2/14/2008HouseReferred to Rules Committee
  3/5/2008HouseAssigned to Insurance Committee
  3/11/2008HouseHouse Committee Amendment No. 1 Filed with Clerk by Insurance Committee
  3/11/2008HouseHouse Committee Amendment No. 1 Adopted in Insurance Committee; by Voice Vote
  3/11/2008HouseDo Pass as Amended / Short Debate Insurance Committee; 020-000-000
  3/12/2008HousePlaced on Calendar 2nd Reading - Short Debate
  3/13/2008HouseSecond Reading - Short Debate
  3/13/2008HousePlaced on Calendar Order of 3rd Reading - Short Debate
  4/2/2008HouseThird Reading - Short Debate - Passed 110-000-000
  4/3/2008SenateArrive in Senate
  4/3/2008SenatePlaced on Calendar Order of First Reading
  4/3/2008SenateChief Senate Sponsor Sen. William R. Haine
  4/3/2008SenateFirst Reading
  4/3/2008SenateReferred to Rules
  5/15/2008SenateRule 2-10 Committee Deadline Established As May 22, 2008; Substantive House Bills Out of Committee
  1/13/2009HouseSession Sine Die