SB1377sam002 101ST GENERAL ASSEMBLY

Sen. John G. Mulroe

Filed: 4/4/2019

10100SB1377sam002 LRB101 05283 AMC 57696 a

AMENDMENT TO SENATE BILL 1377

AMENDMENT NO. ______. Amend Senate Bill 1377 on page 12, by replacing lines 5 through 15 with the following:

"The Fund may also, at its sole discretion and without assumption of any ongoing duty to do so, pay any workers compensation claims or any other third-party claims covered by a policy of an insolvent company on behalf of a high net worth insured as defined in paragraph (iv) of subsection (b) of Section 534.3. In that case, the Fund shall recover from the high net worth insured under this Section for all amounts paid on its behalf, all allocated claim adjusted expenses related to such claims, the Fund's attorney's fees, and all court costs in any action necessary to collect the full amount to the Fund's reimbursement under this Section.".