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SB 1737

  • Illinois Senate Bill
  • 100th Regular Session
  • Introduced in Senate Nov 15, 2018
  • Passed Senate Apr 27, 2017
  • Passed House May 31, 2018
  • Became Law Nov 29, 2018

Ins Cd-Domestic Ceding Insurer

Abstract

Amends the Illinois Insurance Code in provisions concerning credit allowed a domestic ceding insurer. Provides that the assuming insurer shall provide or make certain information to be reported to the Director of Insurance available to the ceding insurer and that the assuming insurer may decline to release trade secrets or commercially sensitive information that would qualify as exempt from disclosure under the Freedom of Information Act. With regard to an assuming insurer's trust fund, provides that not later than February 28 of each year, the assuming insurer's chief executive officer or chief financial officer shall certify to the Director that the trust fund contains funds in an amount not less than the assuming insurer's liabilities attributable to reinsurance ceded by U.S. ceding insurers, and in addition, a trusteed surplus of not less than $20,000,000. Permits a reduction in the required trusteed surplus in specified circumstances. Provides that in the event that the provision concerning the reduction in the required trusteed surplus applies to the trust, the assuming insurer's chief executive officer or chief financial officer shall then certify to the Director that the trust fund contains funds in an amount not less than the assuming insurer's liabilities attributable to reinsurance ceded by U.S. ceding insurers, and in addition, a reduced trusteed surplus of not less than the amount that has been authorized by the regulatory authority having principal regulatory oversight of the trust. Makes changes to provisions concerning financial strength ratings. Sets forth provisions concerning downgrades by rating agencies, the Director's authority, upgrading the rating of a certified reinsurer, and the revocation of the certification of a certified reinsurer. Makes other changes.

Bill Sponsors (4)

Antonio Muñoz

  • Democratic
  • upper
  • 1
Primary

Katie Stuart

  • Democratic
  • lower
  • 112
Cosponsor

LaToya Greenwood

  • Democratic
  • lower
  • 114
Cosponsor

Laura Fine

  • Democratic
  • upper
  • 9
Cosponsor

Votes


Nov 27, 2018

House

May 31, 2018

Apr 27, 2017

Senate

May 31, 2018

Nov 14, 2018

Senate

Actions


Nov 29, 2018

Senate

Public Act . . . . . . . . . 100-1118

Senate

Effective Date February 1, 2019; Some provisions

Senate

Effective Date November 27, 2018; Some provisions

Nov 27, 2018

House

3/5 Vote Required

Senate

Amendatory Veto Overridden Both Houses

House

Override Amendatory Veto - House Passed 089-020-001

Nov 20, 2018

House

Motion Filed Override Amendatory Veto Rep. Jay Hoffman

Nov 19, 2018

House

Added Alternate Co-Sponsor Rep. Laura Fine

Nov 15, 2018

House

Placed on Calendar Amendatory Veto

House

Arrived in House

Nov 14, 2018

Senate

Override Amendatory Veto - Senate Passed 052-000-000

Senate

3/5 Vote Required

Nov 13, 2018

Senate

Motion Filed Override Amendatory Veto Sen. Antonio Muñoz

Senate

Placed on Calendar Amendatory Veto November 14, 2018

Aug 26, 2018

Senate

Governor Amendatory Veto

Jun 29, 2018

Senate

Sent to the Governor

May 31, 2018

Senate

Secretary's Desk - Concurrence House Amendment(s) 1, 2

House

Added Alternate Chief Co-Sponsor Rep. Michael D. Unes

House

Added Alternate Chief Co-Sponsor Rep. Norine K. Hammond

House

House Floor Amendment No. 2 Filed with Clerk by Rep. Jay Hoffman

House

House Floor Amendment No. 2 Referred to Rules Committee

House

House Floor Amendment No. 2 Recommends Be Adopted Rules Committee; 004-000-000

House

Added Alternate Chief Co-Sponsor Rep. Dan Brady

House

House Floor Amendment No. 1 Fiscal Note Filed as Amended

House

House Floor Amendment No. 1 Adopted

House

House Floor Amendment No. 2 Adopted

House

Placed on Calendar Order of 3rd Reading - Short Debate

House

Removed from Short Debate Status

House

Placed on Calendar Order of 3rd Reading - Standard Debate

House

Added Alternate Co-Sponsor Rep. Katie Stuart

House

Added Alternate Co-Sponsor Rep. LaToya Greenwood

House

Third Reading - Standard Debate - Passed 085-028-000

House

Added Alternate Chief Co-Sponsor Rep. Michael J. Zalewski

Senate

Placed on Calendar Order of Concurrence House Amendment(s) 1, 2 - May 31, 2018

Senate

House Floor Amendment No. 1 Motion to Concur Filed with Secretary Sen. Antonio Muñoz

Senate

House Floor Amendment No. 1 Motion to Concur Referred to Assignments

Senate

House Floor Amendment No. 2 Motion to Concur Filed with Secretary Sen. Antonio Muñoz

Senate

House Floor Amendment No. 2 Motion to Concur Referred to Assignments

Senate

House Floor Amendment No. 1 Motion to Concur Be Approved for Consideration Assignments

Senate

House Floor Amendment No. 2 Motion to Concur Be Approved for Consideration Assignments

Senate

House Floor Amendment No. 1 Senate Concurs 042-005-000

Senate

House Floor Amendment No. 2 Senate Concurs 042-005-000

Senate

Senate Concurs

Senate

Passed Both Houses

May 30, 2018

House

House Floor Amendment No. 1 Recommends Be Adopted Labor & Commerce Committee; 017-010-000

House

House Floor Amendment No. 1 Filed with Clerk by Rep. Jay Hoffman

House

House Floor Amendment No. 1 Referred to Rules Committee

House

House Floor Amendment No. 1 Rules Refers to Labor & Commerce Committee

May 29, 2018

House

Do Pass / Short Debate Executive Committee; 011-000-000

House

Placed on Calendar 2nd Reading - Short Debate

House

Second Reading - Short Debate

House

Held on Calendar Order of Second Reading - Short Debate

May 28, 2018

House

Assigned to Executive Committee

House

Final Action Deadline Extended-9(b) May 31, 2018

House

Motion Filed to Suspend Rule 21 Executive Committee; Rep. Barbara Flynn Currie

House

Motion to Suspend Rule 21 - Prevailed

May 25, 2018

House

Alternate Chief Sponsor Changed to Rep. Jay Hoffman

May 31, 2017

House

Rule 19(a) / Re-referred to Rules Committee

May 26, 2017

House

Final Action Deadline Extended-9(b) May 31, 2017

May 19, 2017

House

Committee Deadline Extended-Rule 9(b) May 26, 2017

May 09, 2017

House

Assigned to Executive Committee

Apr 27, 2017

House

Chief House Sponsor Rep. Michael J. Zalewski

House

Arrived in House

Senate

Third Reading - Passed; 057-000-000

House

First Reading

House

Referred to Rules Committee

Apr 06, 2017

Senate

Second Reading

Senate

Placed on Calendar Order of 3rd Reading April 25, 2017

Mar 09, 2017

Senate

Placed on Calendar Order of 2nd Reading March 14, 2017

Senate

Do Pass Insurance; 011-000-000

Feb 28, 2017

Senate

Assigned to Insurance

Feb 09, 2017

Senate

First Reading

Senate

Filed with Secretary by Sen. Antonio Muñoz

Senate

Referred to Assignments

Bill Text

Bill Text Versions Format
Enrolled HTML
Engrossed HTML
Introduced HTML

Related Documents

Document Format
Governor's Message
Public Act
House Amendment 002
House Amendment 001

Sources

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