House Sponsors: KRAUSE-MULLIGAN. Senate Sponsors: NOLAND Short description: INS CLAIMS PAYMENT-INTEREST Synopsis of Bill as introduced: Amends the Illinois Insurance Code. Provides that insurers shall pay interest at the rate of 9% per year on insurance proceeds that are not paid in a timely manner. Effective immediately. Last action on Bill: PUBLIC ACT.............................. 92-0139 Last action date: JUL-24-2001 Location: House Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0 END OF INQUIRY Full Text Bill Status