SB 89

Abstract

Amends the Illinois Insurance Code. Provides that if the entry of an Order of Liquidation occurs on or after January 1, 2023, then the obligations shall not exceed $500,000 or exceed without any deduction $50,000 for any unearned premium claim or refund under any one policy. Provides that in no event shall the Fund be obligated to pay an amount in excess of $500,000 in the aggregate for all first-party and third-party claims under a policy or endorsement providing cybersecurity insurance coverage and arising out of or related to a single insured event, regardless of the number of claims made or number of claimants. Provides that the Illinois Insurance Guaranty Fund shall have the right to appoint or approve and to direct legal counsel and other service providers under any other insurance policies subject to the provisions, regardless of any limitations in the policy. Provides that the Fund may employ or retain such persons as are necessary to provide policy benefits and services. Provides that the Fund may, at its sole discretion and without assumption of any ongoing duty to do so, pay any cybersecurity insurance obligations covered by a policy of an insolvent company on behalf of a high net worth insured. Defines cybersecurity insurance. Makes other changes. Effective immediately. House Committee Amendment No. 1 Deletes reference to: 215 ILCS 5/533 from Ch. 73, par. 1065.83 215 ILCS 5/534 from Ch. 73, par. 1065.84 215 ILCS 5/534.9 new 215 ILCS 5/537.2 from Ch. 73, par. 1065.87-2 215 ILCS 5/537.7 from Ch. 73, par. 1065.87-7 215 ILCS 5/538.2 from Ch. 73, par. 1065.88-2 215 ILCS 5/545 from Ch. 73, par. 1065.95 Adds reference to: 215 ILCS 5/355 from Ch. 73, par. 967 Replaces everything after the enacting clause. Amends the Illinois Insurance Code. Makes a technical change in a Section concerning accident and health policies. House Floor Amendment No. 2 Deletes reference to: 215 ILCS 5/355 Adds reference to: 20 ILCS 3125/55 50 ILCS 20/2.5 50 ILCS 20/20.3 50 ILCS 20/20.4 50 ILCS 20/20.5 50 ILCS 20/20.10 50 ILCS 20/20.15 50 ILCS 20/20.20 50 ILCS 20/20.25 110 ILCS 305/115 230 ILCS 45/25-25 235 ILCS 5/6-28.8 705 ILCS 135/20-5 rep. 720 ILCS 5/33G-9 Replaces everything after the enacting clause. Amends the Energy Efficient Building Act. Requires the Capital Development Board to consult with the Illinois Environmental Protection Agency to create and adopt the Illinois Stretch Energy Code. Extends various deadlines related to the Code. Amends the Public Building Commission Act. Extends the repeal date for various provisions in the Act from June 1, 2023, to July 1, 2025. Amends the University of Illinois Act. Extends the date by which the Government Finance Research Center at the University of Illinois at Chicago must issue specified water rate reports. Amends the Sports Wagering Act. Extends the date through which a provision concerning a licensee accepting a wager for a sports event involving an Illinois collegiate team is permitted. Amends the Liquor Control Act of 1934. Extends the date through which a provision concerning the delivery and carry out of mixed drinks is permitted. Amends the Criminal and Traffic Assessment Act. Repeals the Act's repealer. Amends the Criminal Code of 2012. Extends the repeal date for the Illinois Street Gang and Racketeer Influenced and Corrupt Organizations Law from June 11, 2023, to June 1, 2025. Effective immediately. House Floor Amendment No. 3 Adds reference to: 705 ILCS 135/20-5 rep. Further amends the Clerks of Courts Act. Deletes a provision that provides for the repeal of provisions concerning circuit clerk fees.