House Sponsors: HAMOS-DART-LANG-FEIGENHOLTZ-SCHOENBERG. Short description: HOLOCAUST VICTIMS INSURNCE LAW Synopsis of Bill as introduced: Amends the Illinois Insurance Code. Creates the Holocaust Victims Insurance Law. Requires the Department of Insurance to establish a toll-free telephone number to assist persons seeking recovery of proceeds of an insurance policy issued to a Holocaust victim. Provides that insurers must expeditiously investigate claims under policies issued to Holocaust victims and allow claimants to meet a reasonable standard of proof pursuant to standards established by the Department. Requires insurers to allow claims irrespective of statute of limitations and notice requirements if the claim is filed within 10 years after the effective date of this amendatory Act. Authorizes a private right of action for damages caused by violations of the Law. Requires the Department to report to the General Assembly regarding insurers in this State that have a legal relationship with an international insurer that could have issued a policy to a Holocaust victim and claims related to Holocaust victims. FISCAL NOTE (Department of Insurance) The Department estimates that the costs associated with estab- lishing a toll-free hotline would be approximately $600 annu- ally, including obtaining a new toll-free number, monthly phone charges, installation of the toll-free line, as well as instal- lation and monthly charges associated with listing the number in a directory. In addition to these charges, there would be a cost associated with every incoming call received by the De- partment. The Department cannot estimate how many calls would be made to this hotline, and therefore, the Department cannot determine the cost of these calls. HOUSE AMENDMENT NO. 1. Deletes provision requiring the Department of Insurance to operate the toll-free telephone number in multiple languages. Requires an insurance company to ascertain whether it has a legal relationship to an international insurer that is a legal successor to an international insurer that issued a policy to a Holocaust victim. Provides that insurers can comply with the requirements of this amendatory Act by demonstrating compliance with an international commission on insurance claims by Holocaust victims. Last action on Bill: SESSION SINE DIE Last action date: JAN-07-2003 Location: House Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 1 SENATE - 0 END OF INQUIRY Full Text Bill Status