REGULATION-TECH Senate SponsorsSen. Napoleon Harris, III, Dave Syverson, Sue Rezin, Andrew S. Chesney, Doris Turner, Dan McConchie, John F. Curran-Michael W. Halpin-Bill Cunningham, Win Stoller, Chapin Rose, Linda Holmes, Sally J. Turner, Paul Faraci, Javier L. Cervantes, Mary Edly-Allen, Adriane Johnson, Jil Tracy, Rachel Ventura, Jason Plummer, Dale Fowler-Neil Anderson, Patrick J. Joyce and David Koehler House Sponsors(Rep. Thaddeus Jones-Bob Morgan-Jeff Keicher-Rita Mayfield, Lawrence "Larry" Walsh, Jr., Joe C. Sosnowski, Ryan Spain, Dan Swanson, Jonathan Carroll, Anthony DeLuca, Norine K. Hammond, Tony M. McCombie, Travis Weaver-Jay Hoffman, Elizabeth "Lisa" Hernandez, Natalie A. Manley, Dagmara Avelar, Fred Crespo, Suzanne M. Ness, Katie Stuart, Kelly M. Cassidy, Dave Vella, Jennifer Gong-Gershowitz, Lance Yednock, Anne Stava-Murray, Charles Meier, Kevin Schmidt, Amy Elik, Abdelnasser Rashid, Michael J. Kelly, Camille Y. Lilly, John M. Cabello, Christopher "C.D." Davidsmeyer, Michael J. Coffey, Jr., Brad Stephens, Dan Ugaste, Stephanie A. Kifowit, Sue Scherer, Mary Gill, Randy E. Frese and Matt Hanson) 11/17/2023SenatePublic Act . . . . . . . . . 103-0566 215 ILCS 105/1from Ch. 73, par. 1301Amends the Comprehensive Health Insurance Plan Act. Makes a technical change in a Section concerning the short title.Senate Floor Amendment No. 1 Deletes reference to:215 ILCS 105/1Adds reference to:215 ILCS 120/10from Ch. 73, par. 1260Replaces everything after the enacting clause. Amends the Farm Mutual Insurance Company Act of 1986. Provides that, until the date that is 5 years after the effective date of the amendatory Act, a farm mutual insurance company insuring against the perils of wind or hail must have and maintain adequate catastrophic reinsurance (instead of catastrophic reinsurance which limits the company's exposure on any one loss occurrence to 20% of its policyholders' surplus). Defines "adequate catastrophic reinsurance" as reinsurance in an amount no less than that required for a 500-year event, based on an actuarially sound catastrophe model that limits the company's exposure on any one loss occurrence to (i) 20% of its policyholders' surplus or (ii) an amount authorized by the Director of Insurance. Provides that a farm mutual insurance company must additionally have and maintain aggregate reinsurance coverage in an amount no less than that required for a 250-year event, based on an actuarially sound catastrophe model. Provides that the reinsurance permitted or required under the provisions must be provided by (i) a farm mutual insurance company, (ii) an insurance company authorized to write the kinds of insurance described in the Illinois Insurance Code pertaining to casualty, fidelity, surety, fire, marine, and other types of insurance, or (iii) a reinsurer and reinsurance program meeting the standards set forth in the Illinois Insurance Code that permit a domestic company to take credit for reinsurance. Requires a farm mutual insurance company converting from unlimited catastrophic reinsurance to adequate catastrophic reinsurance to provide notice of the change to policyholders in a form approved by the Director of Insurance. Provides that the provisions of the amendatory Act become inoperative on and after the date that is 5 years after the effective date of the amendatory Act. Effective immediately. 2/2/2023SenateFiled with Secretary by Sen. Don Harmon 2/2/2023SenateFirst Reading 2/2/2023SenateReferred to Assignments 3/2/2023SenateAssigned to Executive 3/9/2023SenateDo Pass Executive; 011-000-000 3/9/2023SenatePlaced on Calendar Order of 2nd Reading March 10, 2023 3/10/2023SenateSecond Reading 3/10/2023SenatePlaced on Calendar Order of 3rd Reading March 21, 2023 3/31/2023SenateRule 3-9(a) / Re-referred to Assignments 10/18/2023SenateApproved for Consideration Assignments 10/18/2023SenatePlaced on Calendar Order of 3rd Reading October 24, 2023 10/25/2023SenateSenate Floor Amendment No. 1 Filed with Secretary by Sen. Napoleon Harris, III 10/25/2023SenateSenate Floor Amendment No. 1 Referred to Assignments 10/25/2023SenateChief Sponsor Changed to Sen. Napoleon Harris, III 10/25/2023SenateAdded as Co-Sponsor Sen. Dave Syverson 10/25/2023SenateSenate Floor Amendment No. 1 Assignments Refers to Executive 10/25/2023SenateAdded as Co-Sponsor Sen. Sue Rezin 10/25/2023SenateAdded as Co-Sponsor Sen. Andrew S. Chesney 10/25/2023SenateAdded as Co-Sponsor Sen. Doris Turner 10/25/2023SenateAdded as Co-Sponsor Sen. Dan McConchie 10/25/2023SenateAdded as Co-Sponsor Sen. John F. Curran 10/25/2023SenateAdded as Chief Co-Sponsor Sen. Michael W. Halpin 10/26/2023SenateSenate Floor Amendment No. 1 Recommend Do Adopt Executive; 011-000-000 10/26/2023SenateAdded as Chief Co-Sponsor Sen. Bill Cunningham 10/26/2023SenateAdded as Co-Sponsor Sen. Win Stoller 10/26/2023SenateRecalled to Second Reading 10/26/2023SenateSenate Floor Amendment No. 1 Adopted; Cunningham 10/26/2023SenatePlaced on Calendar Order of 3rd Reading 10/26/2023Senate3/5 Vote Required 10/26/2023SenateThird Reading - Passed; 056-000-000 10/26/2023SenateAdded as Co-Sponsor Sen. Chapin Rose 10/26/2023SenateAdded as Co-Sponsor Sen. Linda Holmes 10/26/2023SenateAdded as Co-Sponsor Sen. Sally J. Turner 10/26/2023SenateAdded as Co-Sponsor Sen. Paul Faraci 10/26/2023SenateAdded as Co-Sponsor Sen. Javier L. Cervantes 10/26/2023SenateAdded as Co-Sponsor Sen. Mary Edly-Allen 10/26/2023SenateAdded as Co-Sponsor Sen. Adriane Johnson 10/26/2023SenateAdded as Co-Sponsor Sen. Jil Tracy 10/26/2023SenateAdded as Co-Sponsor Sen. Rachel Ventura 10/26/2023SenateAdded as Co-Sponsor Sen. Jason Plummer 10/26/2023SenateAdded as Co-Sponsor Sen. Dale Fowler 10/26/2023HouseArrived in House 10/26/2023HouseChief House Sponsor Rep. Emanuel "Chris" Welch 10/30/2023SenateAdded as Chief Co-Sponsor Sen. Neil Anderson 10/31/2023HouseAlternate Chief Sponsor Changed to Rep. Thaddeus Jones 11/1/2023HouseFirst Reading 11/1/2023HouseReferred to Rules Committee 11/1/2023HouseAssigned to Insurance Committee 11/3/2023HouseAdded Alternate Chief Co-Sponsor Rep. Bob Morgan 11/3/2023HouseAdded Alternate Chief Co-Sponsor Rep. Jeff Keicher 11/3/2023HouseAdded Alternate Chief Co-Sponsor Rep. Rita Mayfield 11/3/2023HouseAdded Alternate Co-Sponsor Rep. Lawrence "Larry" Walsh, Jr. 11/3/2023HouseAdded Alternate Co-Sponsor Rep. Joe C. Sosnowski 11/3/2023HouseAdded Alternate Co-Sponsor Rep. Ryan Spain 11/3/2023HouseAdded Alternate Co-Sponsor Rep. Dan Swanson 11/3/2023HouseAdded Alternate Co-Sponsor Rep. Jonathan Carroll 11/3/2023HouseAdded Alternate Co-Sponsor Rep. Anthony DeLuca 11/3/2023HouseAdded Alternate Co-Sponsor Rep. Norine K. Hammond 11/3/2023HouseAdded Alternate Co-Sponsor Rep. Jay Hoffman 11/6/2023HouseAdded Alternate Co-Sponsor Rep. Tony M. McCombie 11/6/2023HouseAdded Alternate Co-Sponsor Rep. Travis Weaver 11/6/2023HouseAlternate Co-Sponsor Removed Rep. Jay Hoffman 11/6/2023HouseAdded Alternate Chief Co-Sponsor Rep. Jay Hoffman 11/7/2023HouseAdded Alternate Co-Sponsor Rep. Elizabeth "Lisa" Hernandez 11/7/2023HouseAdded Alternate Co-Sponsor Rep. Natalie A. Manley 11/7/2023HouseAdded Alternate Co-Sponsor Rep. Dagmara Avelar 11/7/2023HouseAdded Alternate Co-Sponsor Rep. Fred Crespo 11/7/2023HouseAdded Alternate Co-Sponsor Rep. Suzanne M. Ness 11/7/2023HouseAdded Alternate Co-Sponsor Rep. Katie Stuart 11/7/2023HouseAdded Alternate Co-Sponsor Rep. Kelly M. Cassidy 11/7/2023HouseAdded Alternate Co-Sponsor Rep. Dave Vella 11/7/2023HouseAdded Alternate Co-Sponsor Rep. Jennifer Gong-Gershowitz 11/7/2023HouseAdded Alternate Co-Sponsor Rep. Lance Yednock 11/7/2023HouseAdded Alternate Co-Sponsor Rep. Anne Stava-Murray 11/7/2023HouseDo Pass / Short Debate Insurance Committee; 012-000-000 11/7/2023HouseSecond Reading - Short Debate 11/7/2023HouseHeld on Calendar Order of Second Reading - Short Debate 11/8/2023HouseAdded Alternate Co-Sponsor Rep. Charles Meier 11/8/2023House3/5 Vote Required 11/8/2023HousePlaced on Calendar Order of 3rd Reading - Short Debate 11/8/2023HouseThird Reading - Short Debate - Passed 114-000-000 11/8/2023HouseAdded Alternate Co-Sponsor Rep. Kevin Schmidt 11/8/2023HouseAdded Alternate Co-Sponsor Rep. Amy Elik 11/8/2023HouseAdded Alternate Co-Sponsor Rep. Abdelnasser Rashid 11/8/2023HouseAdded Alternate Co-Sponsor Rep. Michael J. Kelly 11/8/2023HouseAdded Alternate Co-Sponsor Rep. Camille Y. Lilly 11/8/2023HouseAdded Alternate Co-Sponsor Rep. John M. Cabello 11/8/2023HouseAdded Alternate Co-Sponsor Rep. Christopher "C.D." Davidsmeyer 11/8/2023HouseAdded Alternate Co-Sponsor Rep. Michael J. Coffey, Jr. 11/8/2023HouseAdded Alternate Co-Sponsor Rep. Brad Stephens 11/8/2023HouseAdded Alternate Co-Sponsor Rep. Dan Ugaste 11/8/2023HouseAdded Alternate Co-Sponsor Rep. Stephanie A. Kifowit 11/8/2023HouseAdded Alternate Co-Sponsor Rep. Sue Scherer 11/8/2023HouseAdded Alternate Co-Sponsor Rep. Mary Gill 11/8/2023HouseAdded Alternate Co-Sponsor Rep. Randy E. Frese 11/8/2023SenatePassed Both Houses 11/15/2023SenateSent to the Governor 11/17/2023SenateAdded as Co-Sponsor Sen. Patrick J. Joyce 11/17/2023SenateAdded as Co-Sponsor Sen. David Koehler 11/17/2023SenateGovernor Approved 11/17/2023SenateEffective Date November 17, 2023 11/17/2023SenatePublic Act . . . . . . . . . 103-0566