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HB0265 Engrossed |
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LRB094 05163 LJB 35204 b |
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| AN ACT concerning insurance.
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| Be it enacted by the People of the State of Illinois,
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| represented in the General Assembly:
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| Section 5. The Use of Credit Information in Personal |
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| Insurance Act is amended by adding Section 22 as follows:
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| (215 ILCS 157/22 new) |
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| Sec. 22. Extraordinary life events. |
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| (a) An insurer authorized to do business in this State that |
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| uses credit information to underwrite or rate risks shall |
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| review and consider an exception to the risk score based upon |
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| extraordinary life events after receiving a written and signed |
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| notification from the applicant or insured explaining how the |
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| applicant or insured believes the extraordinary life event |
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| adversely impacts the applicant's or insured's insurance risk |
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| score. |
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| (b) For the purposes of this Section, "extraordinary life |
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| event" means the following: |
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| (1) a catastrophic illness or injury to an applicant or |
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| insured or an immediate family member of an applicant or |
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| insured; |
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| (2) the death of a spouse, child, or parent of an |
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| applicant or insured; |
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| (3) involuntary loss of employment for a period of 3 |
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| months or more by an applicant or insured; |
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| (4) identity theft of an applicant or insured; or |
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| (5) dissolution of marriage of an applicant or insured.
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| Section 99. Effective date. This Act takes effect July 1, |
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| 2006.
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