summary
Introduced
02/07/2025
02/07/2025
In Committee
03/21/2025
03/21/2025
Crossed Over
Passed
Dead
Introduced Session
104th General Assembly
Bill Summary
Amends the Department of Insurance Law of the Civil Administrative Code of Illinois. Provides that the Department of Insurance shall file any market conduct studies seeking to levy fines against an insurance company with the General Assembly before each legislative session and the General Assembly must approve before any fines are leveled. Provides that the Department of Insurance shall conduct a hearing with the House Insurance Committee and Senate Insurance Committee before any further proceedings occur. Provides that before the release of announcements of the fines to the public, there shall be an appeal process scheduled within 30 days after the committee hearings.
AI Summary
This bill amends the Department of Insurance Law in Illinois to introduce new procedural requirements for market conduct studies and potential fines against insurance companies. Specifically, the bill mandates that before the Department of Insurance can levy fines against an insurance company, it must first file the market conduct study with the General Assembly for review and approval before each legislative session. Additionally, the Department must conduct a hearing with both the House and Senate Insurance Committees prior to taking further action. The bill also establishes an appeal process, requiring that an appeal be scheduled within 30 days after the committee hearings and before any public announcement of fines is made. These provisions appear designed to increase legislative oversight and provide insurance companies with additional due process before potential financial penalties are imposed.
Committee Categories
Government Affairs
Sponsors (1)
Last Action
Rule 19(a) / Re-referred to Rules Committee (on 03/21/2025)
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.ilga.gov/legislation/BillStatus.asp?DocNum=3341&GAID=18&DocTypeID=HB&SessionID=114&GA=104 |
| BillText | https://www.ilga.gov/legislation/104/HB/10400HB3341.htm |
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