INS CD-PUBLIC ADJUSTER FEES Senate SponsorsSen. William R. Haine House Sponsors(Rep. Daniel V. Beiser-Thomas Morrison and Monique D. Davis) 7/7/2014SenatePublic Act . . . . . . . . . 98-0701 215 ILCS 5/1570Amends the Illinois Insurance Code to provide that a public adjuster may not charge, agree to, or accept any compensation, payment, commissions, fee, or other valuable consideration in excess of 10% of the amount of the insurance settlement claim paid by the insurer.Senate Committee Amendment No. 1 Provides that a public adjuster may not charge, agree to, or accept any compensation, payment, commissions, fee, or other valuable consideration in excess of 10% of the amount of the insurance settlement claim paid by the insurer, unless approved in writing by the Director of Insurance. Provides that the request must contain specific reasons as to why the consideration should be in excess of 10% and proof that the policyholder would accept the consideration. Requires the Director of Insurance to act on any request within 5 business days after receipt of the request.Senate Floor Amendment No. 2 Replaces everything after the enacting clause with the bill as amended by Senate Amendment No. 1 with the following changes. Provides that a public adjuster may not charge, agree to, or accept any compensation, payment, commissions, fee, or other valuable consideration in excess of 10% of the amount of the insurance settlement claim paid by the insurer on any claim resulting from a catastrophic event (rather than the insurance settlement claim paid by the insurer), unless approved in writing by the Director of Insurance. Defines "catastrophic event". 2/4/2014SenateFiled with Secretary by Sen. William R. Haine 2/4/2014SenateFirst Reading 2/4/2014SenateReferred to Assignments 2/11/2014SenateAssigned to Insurance 2/27/2014SenatePostponed - Insurance 3/13/2014SenateSenate Committee Amendment No. 1 Filed with Secretary by Sen. William R. Haine 3/13/2014SenateSenate Committee Amendment No. 1 Referred to Assignments 3/20/2014SenateSenate Committee Amendment No. 1 Assignments Refers to Insurance 3/26/2014SenateSenate Committee Amendment No. 1 Adopted 3/27/2014SenateDo Pass as Amended Insurance; 012-000-000 3/27/2014SenatePlaced on Calendar Order of 2nd Reading April 1, 2014 4/7/2014SenateSecond Reading 4/7/2014SenatePlaced on Calendar Order of 3rd Reading April 8, 2014 4/7/2014SenateSenate Floor Amendment No. 2 Filed with Secretary by Sen. William R. Haine 4/7/2014SenateSenate Floor Amendment No. 2 Referred to Assignments 4/8/2014SenateSenate Floor Amendment No. 2 Be Approved for Consideration Assignments 4/8/2014SenateRecalled to Second Reading 4/8/2014SenateSenate Floor Amendment No. 2 Adopted; Haine 4/8/2014SenatePlaced on Calendar Order of 3rd Reading 4/8/2014SenateThird Reading - Passed; 054-000-000 4/9/2014HouseArrived in House 4/9/2014HouseChief House Sponsor Rep. Daniel V. Beiser 4/9/2014HouseFirst Reading 4/9/2014HouseReferred to Rules Committee 4/28/2014HouseAssigned to Insurance Committee 5/6/2014HouseDo Pass / Short Debate Insurance Committee; 021-000-000 5/7/2014HousePlaced on Calendar 2nd Reading - Short Debate 5/7/2014HouseAdded Alternate Chief Co-Sponsor Rep. Thomas Morrison 5/12/2014HouseAdded Alternate Co-Sponsor Rep. Monique D. Davis 5/13/2014HouseSecond Reading - Short Debate 5/13/2014HousePlaced on Calendar Order of 3rd Reading - Short Debate 5/19/2014HouseThird Reading - Short Debate - Passed 111-000-000 5/19/2014SenatePassed Both Houses 6/17/2014SenateSent to the Governor 7/7/2014SenateGovernor Approved 7/7/2014SenateEffective Date January 1, 2015 7/7/2014SenatePublic Act . . . . . . . . . 98-0701