Senate Sponsors: WALSH,T. House Sponsors: BRADY Short description: INS PROTECTED CELL Synopsis of Bill as introduced: Amends the Illinois Insurance Code. Authorizes the establishment of special purpose limited syndicates to participate in the securitization of reinsurance risks. Provides for the utilization of non-indemnity triggers with respect to insurance securitization by protected cell companies. Provides that a non-indemnity triggered insurance securitization must comply with the rules issued by the Director of Insurance. Requires insurance securitizations to be fully funded. Prohibits a protected cell from issuing insurance or reinsurance contracts directly to policyholders or reinsureds. Effective immediately. Last action on Bill: PUBLIC ACT.............................. 92-0074 Last action date: JUL-12-2001 Location: Senate Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0 END OF INQUIRY Full Text Bill Status