INS CD-EXCESSIVE PREMIUM PAID Senate SponsorsSen. Heather A. Steans 1/13/2015SenateSession Sine Die 215 ILCS 5/462bfrom Ch. 73, par. 1065.9bAmends the Illinois Insurance Code in the Article concerning workers' compensation and employer's liability rates. Provides that if the application of incorrect classifications, payrolls, or any other factors of a rating system results in the payment by an insured of premiums in excess of the premiums that would have been paid utilizing the correct applications of classifications, payrolls, or other factors of a rating system, the insurer shall pay 5% interest on the excessive premium paid from the date of inception of the workers' compensation policy on which the excessive premium was paid through the date on which the insurer refunds the excessive premium paid. Provides that the Director of Insurance shall have the authority to award the interest. Effective immediately. 2/13/2013SenateFiled with Secretary by Sen. Heather A. Steans 2/13/2013SenateFirst Reading 2/13/2013SenateReferred to Assignments 2/27/2013SenateAssigned to Labor and Commerce 3/6/2013SenatePostponed - Labor and Commerce 3/13/2013SenateTo Subcommittee on Special Issues (LC) 3/22/2013SenateRule 3-9(a) / Re-referred to Assignments 1/13/2015SenateSession Sine Die