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91_HB3106
LRB9110389JSgc
1 AN ACT to amend the Illinois Insurance Code by adding
2 Section 154.9.
3 Be it enacted by the People of the State of Illinois,
4 represented in the General Assembly:
5 Section 5. The Illinois Insurance Code is amended by
6 adding Section 154.9 as follows:
7 (215 ILCS 5/154.9 new)
8 Sec. 154.9. Settlement of claim; notice to insured.
9 (a) Before settling any claim against an insured for an
10 amount in excess of $10,000 pursuant to a policy of workers
11 compensation insurance or a policy against the liability of
12 the insured, an insurer shall give the insured notice of the
13 settlement and an opportunity to comment on and respond to
14 the proposed settlement.
15 (b) This Section applies to settlements in amounts in
16 excess of $10,000 made under policies of insurance issued
17 pursuant to clause (b), (c), (d), or (j) or Class 2 of
18 Section 4 of this Code or pursuant to clause (e) or (h) of
19 Class 3 of Section 4 of this Code.
20 Section 99. Effective date. This Act takes effect upon
21 becoming law.