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Public Act 094-0245
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| HB0265 Enrolled |
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 |
Insurance Act is amended by adding Section 22 as follows:
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(215 ILCS 157/22 new) |
Sec. 22. Extraordinary life events. |
(a) An insurer authorized to do business in this State that |
uses credit information to underwrite or rate risks shall |
review and consider an exception to the risk score based upon |
extraordinary life events after receiving a written and signed |
notification from the applicant or insured explaining how the |
applicant or insured believes the extraordinary life event |
adversely impacts the applicant's or insured's insurance risk |
score. |
(b) For the purposes of this Section, "extraordinary life |
event" means the following: |
(1) a catastrophic illness or injury to an applicant or |
insured or an immediate family member of an applicant or |
insured; |
(2) the death of a spouse, child, or parent of an |
applicant or insured; |
(3) involuntary loss of employment for a period of 3 |
months or more by an applicant or insured; |
(4) identity theft of an applicant or insured; or |
(5) dissolution of marriage of an applicant or insured.
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Section 99. Effective date. This Act takes effect July 1, |
2006.
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