Illinois Senate Bill 765
Session 103rd
Regulation-Tech
Became Law
Became Law on Nov 17, 2023
Sponsors
2 Sponsors
Napoleon Harris, III
Thaddeus Jones
First Action
Feb 2, 2023
Latest Action
Nov 17, 2023
Origin Chamber
Senate
Type
Bill
Bill Number
765
State
Illinois
Session
103rd
Napoleon Harris, III
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Primary
Thaddeus Jones
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Senate votes are unavailable for this bill.
Summary
Amends the Comprehensive Health Insurance Plan Act. Makes a technical change in a Section concerning the short title.
Senate Floor Amendment No. 1
Deletes reference to:
215 ILCS 105/1
Adds reference to:
215 ILCS 120/10
from Ch. 73, par. 1260
Replaces everything after the enacting clause. Amends the Farm Mutual Insurance Company Act of 1986. Provides that, until the date that is 5 years after the effective date of the amendatory Act, a farm mutual insurance company insuring against the perils of wind or hail must have and maintain adequate catastrophic reinsurance (instead of catastrophic reinsurance which limits the company's exposure on any one loss occurrence to 20% of its policyholders' surplus). Defines "adequate catastrophic reinsurance" as reinsurance in an amount no less than that required for a 500-year event, based on an actuarially sound catastrophe model that limits the company's exposure on any one loss occurrence to (i) 20% of its policyholders' surplus or (ii) an amount authorized by the Director of Insurance. Provides that a farm mutual insurance company must additionally have and maintain aggregate reinsurance coverage in an amount no less than that required for a 250-year event, based on an actuarially sound catastrophe model. Provides that the reinsurance permitted or required under the provisions must be provided by (i) a farm mutual insurance company, (ii) an insurance company authorized to write the kinds of insurance described in the Illinois Insurance Code pertaining to casualty, fidelity, surety, fire, marine, and other types of insurance, or (iii) a reinsurer and reinsurance program meeting the standards set forth in the Illinois Insurance Code that permit a domestic company to take credit for reinsurance. Requires a farm mutual insurance company converting from unlimited catastrophic reinsurance to adequate catastrophic reinsurance to provide notice of the change to policyholders in a form approved by the Director of Insurance. Provides that the provisions of the amendatory Act become inoperative on and after the date that is 5 years after the effective date of the amendatory Act. Effective immediately.
Introduced
Engrossed
Enrolled
11/17/2023
Senate
Public Act . . . . . . . . . 103-0566
11/17/2023
Senate
Effective Date November 17, 2023
11/17/2023
Senate
Governor Approved
11/17/2023
Senate
Added as Co-Sponsor Sen. David Koehler
11/17/2023
Senate
Added as Co-Sponsor Sen. Patrick J. Joyce
11/15/2023
Senate
Sent to the Governor
11/08/2023
Senate
Passed Both Houses
11/08/2023
House
Added Alternate Co-Sponsor Rep. Randy E. Frese
11/08/2023
House
Added Alternate Co-Sponsor Rep. Mary Gill
11/08/2023
House
Added Alternate Co-Sponsor Rep. Sue Scherer
11/08/2023
House
Added Alternate Co-Sponsor Rep. Stephanie A. Kifowit
11/08/2023
House
Added Alternate Co-Sponsor Rep. Dan Ugaste
11/08/2023
House
Added Alternate Co-Sponsor Rep. Brad Stephens
11/08/2023
House
Added Alternate Co-Sponsor Rep. Michael J. Coffey, Jr.
11/08/2023
House
Added Alternate Co-Sponsor Rep. Christopher "C.D." Davidsmeyer
11/08/2023
House
Added Alternate Co-Sponsor Rep. John M. Cabello
11/08/2023
House
Added Alternate Co-Sponsor Rep. Camille Y. Lilly
11/08/2023
House
Added Alternate Co-Sponsor Rep. Michael J. Kelly
11/08/2023
House
Added Alternate Co-Sponsor Rep. Abdelnasser Rashid
11/08/2023
House
Added Alternate Co-Sponsor Rep. Amy Elik
11/08/2023
House
Added Alternate Co-Sponsor Rep. Kevin Schmidt
11/08/2023
House
Third Reading - Short Debate - Passed 114-000-000
11/08/2023
House
Placed on Calendar Order of 3rd Reading - Short Debate
11/08/2023
House
3/5 Vote Required
11/08/2023
House
Added Alternate Co-Sponsor Rep. Charles Meier
11/07/2023
House
Held on Calendar Order of Second Reading - Short Debate
11/07/2023
House
Second Reading - Short Debate
11/07/2023
House
Do Pass / Short Debate Insurance Committee; 012-000-000
11/07/2023
House
Added Alternate Co-Sponsor Rep. Anne Stava-Murray
11/07/2023
House
Added Alternate Co-Sponsor Rep. Lance Yednock
11/07/2023
House
Added Alternate Co-Sponsor Rep. Jennifer Gong-Gershowitz
11/07/2023
House
Added Alternate Co-Sponsor Rep. Dave Vella
11/07/2023
House
Added Alternate Co-Sponsor Rep. Kelly M. Cassidy
11/07/2023
House
Added Alternate Co-Sponsor Rep. Katie Stuart
11/07/2023
House
Added Alternate Co-Sponsor Rep. Suzanne M. Ness
11/07/2023
House
Added Alternate Co-Sponsor Rep. Fred Crespo
11/07/2023
House
Added Alternate Co-Sponsor Rep. Dagmara Avelar
11/07/2023
House
Added Alternate Co-Sponsor Rep. Natalie A. Manley
11/07/2023
House
Added Alternate Co-Sponsor Rep. Elizabeth "Lisa" Hernandez
11/06/2023
House
Added Alternate Chief Co-Sponsor Rep. Jay Hoffman
11/06/2023
House
Alternate Co-Sponsor Removed Rep. Jay Hoffman
11/06/2023
House
Added Alternate Co-Sponsor Rep. Travis Weaver
11/06/2023
House
Added Alternate Co-Sponsor Rep. Tony M. McCombie
11/03/2023
House
Added Alternate Co-Sponsor Rep. Jay Hoffman
11/03/2023
House
Added Alternate Co-Sponsor Rep. Norine K. Hammond
11/03/2023
House
Added Alternate Co-Sponsor Rep. Anthony DeLuca
11/03/2023
House
Added Alternate Co-Sponsor Rep. Jonathan Carroll
11/03/2023
House
Added Alternate Co-Sponsor Rep. Dan Swanson
11/03/2023
House
Added Alternate Co-Sponsor Rep. Ryan Spain
11/03/2023
House
Added Alternate Co-Sponsor Rep. Joe C. Sosnowski
11/03/2023
House
Added Alternate Co-Sponsor Rep. Lawrence "Larry" Walsh, Jr.
11/03/2023
House
Added Alternate Chief Co-Sponsor Rep. Rita Mayfield
11/03/2023
House
Added Alternate Chief Co-Sponsor Rep. Jeff Keicher
11/03/2023
House
Added Alternate Chief Co-Sponsor Rep. Bob Morgan
11/01/2023
House
Assigned to Insurance Committee
11/01/2023
House
Referred to Rules Committee
11/01/2023
House
First Reading
10/31/2023
House
Alternate Chief Sponsor Changed to Rep. Thaddeus Jones
10/30/2023
Senate
Added as Chief Co-Sponsor Sen. Neil Anderson
10/26/2023
House
Chief House Sponsor Rep. Emanuel "Chris" Welch
10/26/2023
House
Arrived in House
10/26/2023
Senate
Added as Co-Sponsor Sen. Dale Fowler
10/26/2023
Senate
Added as Co-Sponsor Sen. Jason Plummer
10/26/2023
Senate
Added as Co-Sponsor Sen. Rachel Ventura
10/26/2023
Senate
Added as Co-Sponsor Sen. Jil Tracy
10/26/2023
Senate
Added as Co-Sponsor Sen. Adriane Johnson
10/26/2023
Senate
Added as Co-Sponsor Sen. Mary Edly-Allen
10/26/2023
Senate
Added as Co-Sponsor Sen. Javier L. Cervantes
10/26/2023
Senate
Added as Co-Sponsor Sen. Paul Faraci
10/26/2023
Senate
Added as Co-Sponsor Sen. Sally J. Turner
10/26/2023
Senate
Added as Co-Sponsor Sen. Linda Holmes
10/26/2023
Senate
Added as Co-Sponsor Sen. Chapin Rose
10/26/2023
Senate
Third Reading - Passed; 056-000-000
10/26/2023
Senate
3/5 Vote Required
10/26/2023
Senate
Placed on Calendar Order of 3rd Reading
10/26/2023
Senate
Senate Floor Amendment No. 1 Adopted; Cunningham
10/26/2023
Senate
Recalled to Second Reading
10/26/2023
Senate
Added as Co-Sponsor Sen. Win Stoller
10/26/2023
Senate
Added as Chief Co-Sponsor Sen. Bill Cunningham
10/26/2023
Senate
Senate Floor Amendment No. 1 Recommend Do Adopt Executive; 011-000-000
10/25/2023
Senate
Added as Chief Co-Sponsor Sen. Michael W. Halpin
10/25/2023
Senate
Added as Co-Sponsor Sen. John F. Curran
10/25/2023
Senate
Added as Co-Sponsor Sen. Dan McConchie
10/25/2023
Senate
Added as Co-Sponsor Sen. Doris Turner
10/25/2023
Senate
Added as Co-Sponsor Sen. Andrew S. Chesney
10/25/2023
Senate
Added as Co-Sponsor Sen. Sue Rezin
10/25/2023
Senate
Senate Floor Amendment No. 1 Assignments Refers to Executive
10/25/2023
Senate
Added as Co-Sponsor Sen. Dave Syverson
10/25/2023
Senate
Chief Sponsor Changed to Sen. Napoleon Harris, III
10/25/2023
Senate
Senate Floor Amendment No. 1 Referred to Assignments
10/25/2023
Senate
Senate Floor Amendment No. 1 Filed with Secretary by Sen. Napoleon Harris, III
10/18/2023
Senate
Placed on Calendar Order of 3rd Reading October 24, 2023
10/18/2023
Senate
Approved for Consideration Assignments
03/31/2023
Senate
Rule 3-9(a) / Re-referred to Assignments
03/10/2023
Senate
Placed on Calendar Order of 3rd Reading March 21, 2023
03/10/2023
Senate
Second Reading
03/09/2023
Senate
Placed on Calendar Order of 2nd Reading March 10, 2023
03/09/2023
Senate
Do Pass Executive; 011-000-000
03/02/2023
Senate
Assigned to Executive
02/02/2023
Senate
Referred to Assignments
02/02/2023
Senate
First Reading
02/02/2023
Senate
Filed with Secretary by Sen. Don Harmon
Sources
IL Legislature
Open States
Record Created
Feb 8, 2023 3:11:02 AM
Record Updated
Apr 12, 2024 4:22:24 AM