Illinois 100th Regular Session Status: Failed

SB 1723 — INSURANCE INDUSTRY INNOVATION

Last action — Session Sine Die

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  1. ✓
    Introduced
  2. ✓
    In Committee
  3. Died in session

This bill died with 100th Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.

Summary

Creates the Insurance Industry Innovation Act. Creates the Innovation Division within the Department of Insurance to promote insurance product innovations. Provides that the Innovation Division shall be under the direction of the Deputy Director of the Innovation Division. Sets forth duties of the Deputy Director. Provides that an individual may petition the Department to waive or modify certain requirements in State statutes or Department rules related to an insurance innovation the individual offers or intends to offer. Provides that the petition shall demonstrate that the insurance innovation would serve the public interest, improve access to insurance products or services, and does not present systematic risk to the State and promotes consumer protection. Provides the process by which a petition is submitted to the Department and the process by which the Department may approve or reject the petition. Provides that, if the Department approves a petition, the person may enter into an enforceable compliance agreement with the Department, which includes the terms under which the insurance innovation may be offered. Provides that one year after the effective date, and annually thereafter, the Department shall report to the General Assembly on the aggregate impact of the enforceable compliance agreements. Provides that the Act is repealed on December 31, 2022. Effective January 1, 2018.

Bill Text

Action History

  1. Session Sine Die

  2. Senate Committee Amendment No. 2 Rule 3-9(a) / Re-referred to Assignments

  3. Senate Committee Amendment No. 1 Rule 3-9(a) / Re-referred to Assignments

  4. Rule 3-9(a) / Re-referred to Assignments

  5. Senate Committee Amendment No. 2 Postponed - Insurance

  6. Senate Committee Amendment No. 1 Postponed - Insurance

  7. Postponed - Insurance

  8. Senate Committee Amendment No. 2 Assignments Refers to Insurance

  9. Rule 2-10 Committee Deadline Established As April 7, 2017

  10. Senate Committee Amendment No. 1 Postponed - Insurance

  11. Postponed - Insurance

  12. Senate Committee Amendment No. 2 Referred to Assignments

  13. Senate Committee Amendment No. 2 Filed with Secretary by Sen. Antonio Muñoz

  14. Added as Chief Co-Sponsor Sen. William E. Brady

  15. Senate Committee Amendment No. 1 Postponed - Insurance

  16. Postponed - Insurance

  17. Senate Committee Amendment No. 1 Assignments Refers to Insurance

  18. Senate Committee Amendment No. 1 Referred to Assignments

  19. Senate Committee Amendment No. 1 Filed with Secretary by Sen. Antonio Muñoz

  20. Assigned to Insurance

  21. Referred to Assignments

  22. First Reading

  23. Filed with Secretary by Sen. Antonio Muñoz

Sponsors

  • Antonio Muñoz · Cosponsor

Sponsorship breakdown

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0 sponsors · 1 co-sponsors · 182 not signed on

Sponsors (0)

None.

Co-sponsors (1)

  • Antonio Muñoz

Not signed on (182)

182 members have not signed on to this bill.

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"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

health-insurance technology
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

What does SB 1723 do?
Creates the Insurance Industry Innovation Act. Creates the Innovation Division within the Department of Insurance to promote insurance product innovations. Provides that the Innovation Division shall be under the direction of the Deputy Director of the Innovation Division. Sets forth duties of the Deputy Director. Provides that an individual may petition the Department to waive or modify certain requirements in State statutes or Department rules related to an insurance innovation the individual offers or intends to offer. Provides that the petition shall demonstrate that the insurance innovation would serve the public interest, improve access to insurance products or services, and does not present systematic risk to the State and promotes consumer protection. Provides the process by which a petition is submitted to the Department and the process by which the Department may approve or reject the petition. Provides that, if the Department approves a petition, the person may enter into an enforceable compliance agreement with the Department, which includes the terms under which the insurance innovation may be offered. Provides that one year after the effective date, and annually thereafter, the Department shall report to the General Assembly on the aggregate impact of the enforceable compliance agreements. Provides that the Act is repealed on December 31, 2022. Effective January 1, 2018.
Who sponsors SB 1723?
SB 1723 is sponsored by Antonio Muñoz.
What is the current status of SB 1723?
This bill died with 100th Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track SB 1723?
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Last checked for changes 3 months ago · updated continuously

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