republic-os/legislation/us/states/il/98th/hb-4725.md

type, title, description, jurisdiction, legislature, session, identifier, citation, classification, subjects, status, primary_sponsors, version_count, action_count, vote_count, first_action, last_action, source, source_identifier, source_url, source_hash, vintage, source_snapshot, retrieved_at, confidence, tags

type	title	description	jurisdiction	legislature	session	identifier	citation	classification	subjects	status	primary_sponsors	version_count	action_count	vote_count	first_action	last_action	source	source_identifier	source_url	source_hash	vintage	source_snapshot	retrieved_at	confidence	tags
Bill	INS CD-RISK MGT-SOLVENCY	Amends the Freedom of Information Act. Exempts from inspection and copying under the Act information that is exempted from disclosure under the provision concerning confidentiality of the Risk Management and Own Risk and Solvency Assessment Law of the Illinois Insurance Code. Amends the Illinois Insurance Code. Creates a new Article which may be cited as the Risk Management and Own Risk and Solvency Assessment Law. Provides that an insurer shall maintain a risk management framework to assist the insurer with identifying, assessing, monitoring, managing, and reporting on its material and relevant risks and that the requirement may be satisfied if the insurance group of which the insurer is a member maintains a risk management framework applicable to the operations of the insurer. Provides that an insurer, or the insurance group of which the insurer is a member, shall regularly conduct an own risk and solvency assessment (ORSA) consistent with a process comparable to the ORSA Guidance Manual. Requires that the ORSA be conducted no less than annually but also at any time when there are significant changes to the risk profile of the insurer or the insurance group of which the insurer is a member. Provides that upon the Director of Insurance's request, and no more than once each year, an insurer shall submit to the Director an ORSA summary report or any combination of reports that together contain the information described in the ORSA Guidance Manual, applicable to the insurer and the insurance group of which it is a member. Sets forth provisions concerning the ORSA summary report and the contents of the ORSA summary report; exemption; confidentiality; and sanctions. Makes other changes. Contains a severability provision. Effective January 1, 2015.	us/states/il	Illinois General Assembly	98th	HB 4725	Illinois HB 4725 (98th)	bill		enacted		3	34	2	2014-02-05	2014-08-15	openstates	ocd-bill/ee713339-c8a7-4c7d-bd9d-4f16ea757927	http://ilga.gov/legislation/BillStatus.asp?DocNum=4725&GAID=12&DocTypeID=HB&LegId=79392&SessionID=85&GA=98	9485060862921eda8c743630e58df79f0509ed19ad13f57155de12e589b19f95	2026-07-01	https://data.openstates.org/daily/2026-07-01/public.pgdump	2026-07-06	reported	legislation bill us-il

Illinois HB 4725 (98th) — INS CD-RISK MGT-SOLVENCY

Amends the Freedom of Information Act. Exempts from inspection and copying under the Act information that is exempted from disclosure under the provision concerning confidentiality of the Risk Management and Own Risk and Solvency Assessment Law of the Illinois Insurance Code. Amends the Illinois Insurance Code. Creates a new Article which may be cited as the Risk Management and Own Risk and Solvency Assessment Law. Provides that an insurer shall maintain a risk management framework to assist the insurer with identifying, assessing, monitoring, managing, and reporting on its material and relevant risks and that the requirement may be satisfied if the insurance group of which the insurer is a member maintains a risk management framework applicable to the operations of the insurer. Provides that an insurer, or the insurance group of which the insurer is a member, shall regularly conduct an own risk and solvency assessment (ORSA) consistent with a process comparable to the ORSA Guidance Manual. Requires that the ORSA be conducted no less than annually but also at any time when there are significant changes to the risk profile of the insurer or the insurance group of which the insurer is a member. Provides that upon the Director of Insurance's request, and no more than once each year, an insurer shall submit to the Director an ORSA summary report or any combination of reports that together contain the information described in the ORSA Guidance Manual, applicable to the insurer and the insurance group of which it is a member. Sets forth provisions concerning the ORSA summary report and the contents of the ORSA summary report; exemption; confidentiality; and sanctions. Makes other changes. Contains a severability provision. Effective January 1, 2015.

Version chain

The bill's text revisions, in order — the diff chain from filing to enrollment.

1. Introduced (filed) — source
2. Engrossed (committee substitute) — source
3. Enrolled (enrolled) — source

Votes

• Third Reading — 56–0 (pass) · upper
• Third Reading — 112–0 (pass) · lower

Sponsors

• Frank J. Mautino — primary (person)

Timeline

The legislative action history — every referral, reading, and vote.

• 2014-02-05 Filed with the Clerk by Rep. Frank J. Mautino filing
• 2014-02-05 First Reading reading-1
• 2014-02-05 Referred to Rules Committee referral-committee
• 2014-02-27 Assigned to Insurance Committee referral-committee
• 2014-03-04 House Committee Amendment No. 1 Filed with Clerk by Rep. Frank J. Mautino amendment-introduction
• 2014-03-04 House Committee Amendment No. 1 Referred to Rules Committee referral-committee
• 2014-03-13 House Committee Amendment No. 1 Rules Refers to Insurance Committee
• 2014-03-19 House Committee Amendment No. 1 Adopted in Insurance Committee; 022-000-000 amendment-passage
• 2014-03-19 Remains in Insurance Committee
• 2014-03-20 House Committee Amendment No. 2 Filed with Clerk by Rep. Frank J. Mautino amendment-introduction
• 2014-03-20 House Committee Amendment No. 2 Referred to Rules Committee referral-committee
• 2014-03-24 House Committee Amendment No. 2 Rules Refers to Insurance Committee
• 2014-03-25 House Committee Amendment No. 2 Adopted in Insurance Committee; by Voice Vote amendment-passage
• 2014-03-25 Do Pass as Amended / Short Debate Insurance Committee; 020-000-000 committee-passage
• 2014-03-26 Placed on Calendar 2nd Reading - Short Debate
• 2014-04-08 Second Reading - Short Debate reading-2
• 2014-04-08 Placed on Calendar Order of 3rd Reading - Short Debate
• 2014-04-09 Third Reading - Short Debate - Passed 112-000-000 reading-3, passage
• 2014-04-09 Arrive in Senate introduction
• 2014-04-09 Placed on Calendar Order of First Reading April 10, 2014 reading-1
• 2014-04-10 Chief Senate Sponsor Sen. William R. Haine
• 2014-04-10 First Reading reading-1
• 2014-04-10 Referred to Assignments referral-committee
• 2014-04-23 Assigned to Insurance referral-committee
• 2014-05-08 Do Pass Insurance; 013-000-000 committee-passage
• 2014-05-08 Placed on Calendar Order of 2nd Reading May 12, 2014
• 2014-05-15 Second Reading reading-2
• 2014-05-15 Placed on Calendar Order of 3rd Reading May 19, 2014
• 2014-05-21 Third Reading - Passed; 056-000-000 reading-3, passage
• 2014-05-21 Passed Both Houses
• 2014-06-19 Sent to the Governor executive-receipt
• 2014-08-15 Governor Approved executive-signature
• 2014-08-15 Effective Date July 1, 2015
• 2014-08-15 Public Act . . . . . . . . . 98-0910 became-law

Source

OpenStates / OpenCivicData bulk snapshot 2026-07-01; origin ocd-bill/ee713339-c8a7-4c7d-bd9d-4f16ea757927. Confidence: reported (aggregated from official Illinois legislature records).