Illinois House Bill 47

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Completed Legislative Action
Spectrum: Partisan Bill (Democrat 2-0)
Status: Passed on June 30 2023 - 100% progression
Action: 2023-06-30 - Public Act . . . . . . . . . 103-0113
Text: Latest bill text (Chaptered) [HTML]

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.

INS CD-IIGF/CYBERSECURITY

Rep. Jay Hoffman [D]

Sen. Napoleon Harris [D]

2023-05-11 - Senate - Motion in Senate (Y: 56 N: 0 NV: 3 Abs: 0) [PASS]
2023-03-15 - House - Third Reading in House (Y: 114 N: 0 NV: 0 Abs: 1) [PASS]

Date	Chamber	Action
2023-06-30	House	Public Act . . . . . . . . . 103-0113
2023-06-30	House	Effective Date June 30, 2023
2023-06-30	House	Governor Approved
2023-06-09	House	Sent to the Governor
2023-05-11	House	Passed Both Houses
2023-05-11	Senate	Third Reading - Passed; 056-000-000
2023-05-05	Senate	Placed on Calendar Order of 3rd Reading ** May 8, 2023
2023-04-20	Senate	Placed on Calendar Order of 3rd Reading April 25, 2023
2023-04-20	Senate	Second Reading
2023-04-12	Senate	Placed on Calendar Order of 2nd Reading April 18, 2023
2023-04-12	Senate	Approved for Consideration Assignments
2023-03-21	Senate	Referred to Assignments
2023-03-21	Senate	First Reading
2023-03-21	Senate	Chief Senate Sponsor Sen. Napoleon Harris, III
2023-03-21	Senate	Placed on Calendar Order of First Reading
2023-03-21	Senate	Arrive in Senate
2023-03-15	House	Third Reading - Short Debate - Passed 114-000-000
2023-03-14	House	Placed on Calendar Order of 3rd Reading - Short Debate
2023-03-14	House	Second Reading - Short Debate
2023-02-22	House	Placed on Calendar 2nd Reading - Short Debate
2023-02-21	House	Do Pass / Short Debate Insurance Committee; 014-000-000
2023-02-07	House	Assigned to Insurance Committee
2023-01-12	House	Referred to Rules Committee
2023-01-12	House	First Reading
2022-12-05	House	Prefiled with Clerk by Rep. Jay Hoffman

Chapter	Article	Section	Citation Type	Statute Text
215	5	533	Amended Code	Citation Text
215	5	534	Amended Code	Citation Text
215	5	534.9	New Code	See Bill Text
215	5	537.2	Amended Code	Citation Text
215	5	537.7	Amended Code	Citation Text
215	5	538.2	Amended Code	Citation Text
215	5	545	Amended Code	Citation Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=47&GAID=17&DocTypeID=HB&SessionID=112&GA=103
Text	https://www.ilga.gov/legislation/103/HB/10300HB0047.htm
Text	https://www.ilga.gov/legislation/103/HB/10300HB0047eng.htm
Text	https://www.ilga.gov/legislation/103/HB/10300HB0047enr.htm
Text	https://www.ilga.gov/legislation/publicacts/103/103-0113.htm
Roll Call	https://www.ilga.gov/legislation/votehistory/103/house/10300HB0047_03152023_003000T.pdf
Roll Call	https://www.ilga.gov/legislation/votehistory/103/senate/10300HB0047_05112023_001001.pdf