Thomas Holbrook
- Democratic
Primary
Amends the Illinois Insurance Code. Provides that no company authorized to transact the kinds of business related to Class 2 (casualty, fidelity, and surety) or Class 3 (fire and marine) insurance may issue an insurance contract or policy that contains a provision that allows a property claim and settlement offer to be calculated using a method other than actual cash value. Defines "actual cash value" as replacement cost less depreciation, considering the age and condition of the property.
No votes to display
Session Sine Die
Rule 19(a) / Re-referred to Rules Committee
Assigned to Insurance Committee
First Reading
Referred to Rules Committee
Filed with the Clerk by Rep. Thomas Holbrook
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