Fabio
126 lines
11 KiB
Markdown
126 lines
11 KiB
Markdown
---
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type: "Bill"
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title: "INS CD-DOMESTIC CEDING INSURER"
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description: "Amends the Illinois Insurance Code in the Section concerning credit allowed a domestic ceding insurer. Provides that the assuming insurer shall provide or make certain information to be reported to the Director of Insurance available to the ceding insurer and that the assuming insurer may decline to release trade secrets or commercially sensitive information that would qualify as exempt from disclosure under the Freedom of Information Act. With regard to an assuming insurer's trust fund, provides that not later than February 28 of each year, the assuming insurer's chief executive officer or chief financial officer shall certify to the Director that the trust fund contains funds in an amount not less than the assuming insurer's liabilities attributable to reinsurance ceded by U.S. ceding insurers, and in addition, a trusteed surplus of not less than $20,000,000. Permits a reduction in the required trusteed surplus in specified circumstances. Provides that in the event that the provision concerning the reduction in the required trusteed surplus applies to the trust, the assuming insurer's chief executive officer or chief financial officer shall then certify to the Director that the trust fund contains funds in an amount not less than the assuming insurer's liabilities attributable to reinsurance ceded by U.S. ceding insurers, and in addition, a reduced trusteed surplus of not less than the amount that has been authorized by the regulatory authority having principal regulatory oversight of the trust. Makes changes to the provisions concerning financial strength ratings. Sets forth provisions concerning downgrades by rating agencies, the Director's authority, upgrading the rating of a certified reinsurer, and the revocation of the certification of a certified reinsurer. Makes other changes."
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jurisdiction: "us/states/il"
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legislature: "Illinois General Assembly"
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session: "99th"
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identifier: "SB 870"
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citation: "Illinois SB 870 (99th)"
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classification: ["bill"]
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subjects: []
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status: "enacted"
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primary_sponsors: []
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version_count: 3
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action_count: 64
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vote_count: 4
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first_action: "2015-02-11"
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last_action: "2016-12-16"
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source: "openstates"
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source_identifier: "ocd-bill/c7711367-5dfe-4d51-bf7c-0d0cde287264"
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source_url: "http://ilga.gov/legislation/BillStatus.asp?DocNum=870&GAID=13&DocTypeID=SB&LegId=86294&SessionID=88&GA=99"
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source_hash: "56d5e4e4fb1fbf23475ebd0c85eb844acfa44657b5eff7799215d35bb26a4464"
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vintage: "2026-07-01"
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source_snapshot: "https://data.openstates.org/daily/2026-07-01/public.pgdump"
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retrieved_at: "2026-07-06"
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confidence: "reported"
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tags: ["legislation", "bill", "us-il"]
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---
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# Illinois SB 870 (99th) — INS CD-DOMESTIC CEDING INSURER
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Amends the Illinois Insurance Code in the Section concerning credit allowed a domestic ceding insurer. Provides that the assuming insurer shall provide or make certain information to be reported to the Director of Insurance available to the ceding insurer and that the assuming insurer may decline to release trade secrets or commercially sensitive information that would qualify as exempt from disclosure under the Freedom of Information Act. With regard to an assuming insurer's trust fund, provides that not later than February 28 of each year, the assuming insurer's chief executive officer or chief financial officer shall certify to the Director that the trust fund contains funds in an amount not less than the assuming insurer's liabilities attributable to reinsurance ceded by U.S. ceding insurers, and in addition, a trusteed surplus of not less than $20,000,000. Permits a reduction in the required trusteed surplus in specified circumstances. Provides that in the event that the provision concerning the reduction in the required trusteed surplus applies to the trust, the assuming insurer's chief executive officer or chief financial officer shall then certify to the Director that the trust fund contains funds in an amount not less than the assuming insurer's liabilities attributable to reinsurance ceded by U.S. ceding insurers, and in addition, a reduced trusteed surplus of not less than the amount that has been authorized by the regulatory authority having principal regulatory oversight of the trust. Makes changes to the provisions concerning financial strength ratings. Sets forth provisions concerning downgrades by rating agencies, the Director's authority, upgrading the rating of a certified reinsurer, and the revocation of the certification of a certified reinsurer. Makes other changes.
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## Version chain
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The bill's text revisions, in order — the diff chain from filing to enrollment.
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1. **Introduced** (filed) — [source](http://ilga.gov/legislation/fulltext.asp?DocName=09900SB0870&GA=99&SessionId=88&DocTypeId=SB&LegID=86294&DocNum=870&GAID=13&Session=&print=true)
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2. **Engrossed** (committee substitute) — [source](http://ilga.gov/legislation/fulltext.asp?DocName=09900SB0870eng&GA=99&SessionId=88&DocTypeId=SB&LegID=86294&DocNum=870&GAID=13&Session=&print=true)
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3. **Enrolled** (enrolled) — [source](http://ilga.gov/legislation/fulltext.asp?DocName=09900SB0870enr&GA=99&SessionId=88&DocTypeId=SB&LegID=86294&DocNum=870&GAID=13&Session=&print=true)
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## Votes
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- Third Reading — **54–1** (pass) · upper
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- Third Reading — **107–0** (pass) · lower
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- Concurrence — **51–0** (pass) · upper
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- Concurrence, Amendment 2 — **51–0** (pass) · upper
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## Sponsors
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- Iris Y. Martinez — primary (person)
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## Timeline
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The legislative action history — every referral, reading, and vote.
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- **2015-02-11** Filed with Secretary by Sen. Antonio Muñoz `filing`
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- **2015-02-11** First Reading `reading-1`
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- **2015-02-11** Referred to Assignments `referral-committee`
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- **2015-02-17** Assigned to Insurance `referral-committee`
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- **2015-03-10** Added as Chief Co-Sponsor Sen. William R. Haine
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- **2015-03-12** Do Pass Insurance; 011-004-000 `committee-passage`
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- **2015-03-12** Placed on Calendar Order of 2nd Reading March 17, 2015
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- **2015-03-25** Second Reading `reading-2`
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- **2015-03-25** Placed on Calendar Order of 3rd Reading March 26, 2015
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- **2015-04-16** Third Reading - Passed; 054-001-000 `reading-3, passage`
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- **2015-04-16** Arrived in House `introduction`
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- **2015-04-16** Chief House Sponsor Rep. Anthony DeLuca
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- **2015-04-16** First Reading `reading-1`
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- **2015-04-16** Referred to Rules Committee `referral-committee`
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- **2015-10-14** Assigned to Health Care Licenses Committee `referral-committee`
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- **2015-10-14** Final Action Deadline Extended-9(b) October 31, 2015
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- **2015-10-19** House Committee Amendment No. 1 Filed with Clerk by Rep. Michael J. Zalewski `amendment-introduction`
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- **2015-10-19** House Committee Amendment No. 1 Referred to Rules Committee `referral-committee`
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- **2015-10-19** House Committee Amendment No. 1 Rules Refers to Health Care Licenses Committee
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- **2015-10-20** House Committee Amendment No. 1 Adopted in Health Care Licenses Committee; by Voice Vote `amendment-passage`
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- **2015-10-20** Do Pass as Amended / Short Debate Health Care Licenses Committee; 011-000-000 `committee-passage`
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- **2015-10-20** Placed on Calendar 2nd Reading - Short Debate
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- **2015-10-20** Chief Sponsor Changed to Sen. Iris Y. Martinez
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- **2015-10-20** Second Reading - Short Debate `reading-2`
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- **2015-10-20** Placed on Calendar Order of 3rd Reading - Short Debate
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- **2015-10-20** Alternate Chief Sponsor Changed to Rep. Michael J. Zalewski
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- **2015-10-30** Final Action Deadline Extended-9(b) December 4, 2015
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- **2015-12-04** Final Action Deadline Extended-9(b) January 29, 2016
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- **2016-01-29** Final Action Deadline Extended-9(b) April 28, 2016
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- **2016-04-28** Rule 19(a) / Re-referred to Rules Committee `referral-committee`
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- **2016-11-09** Approved for Consideration Rules Committee; 003-000-000
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- **2016-11-09** Placed on Calendar Order of 3rd Reading - Short Debate
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- **2016-11-14** House Floor Amendment No. 2 Filed with Clerk by Rep. Michael J. Zalewski `amendment-introduction`
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- **2016-11-14** House Floor Amendment No. 2 Referred to Rules Committee `referral-committee`
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- **2016-11-14** House Floor Amendment No. 2 Rules Refers to Health Care Licenses Committee
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- **2016-11-15** House Floor Amendment No. 2 Recommends Be Adopted Health Care Licenses Committee; 011-000-000 `committee-passage-favorable`
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- **2016-11-16** Recalled to Second Reading - Short Debate `reading-2`
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- **2016-11-16** House Floor Amendment No. 2 Adopted `amendment-passage`
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- **2016-11-16** Placed on Calendar Order of 3rd Reading - Short Debate
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- **2016-11-16** 3/5 Vote Required
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- **2016-11-16** Alternate Chief Sponsor Changed to Rep. Anna Moeller
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- **2016-11-16** Added Alternate Chief Co-Sponsor Rep. Michael J. Zalewski
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- **2016-11-16** Third Reading - Short Debate - Passed 107-000-000 `reading-3, passage`
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- **2016-11-16** Secretary's Desk - Concurrence House Amendment(s) 1, 2
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- **2016-11-16** Placed on Calendar Order of Concurrence House Amendment(s) 1, 2 - November 29, 2016
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- **2016-11-16** House Committee Amendment No. 1 Motion to Concur Filed with Secretary Sen. Iris Y. Martinez `filing`
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- **2016-11-16** House Committee Amendment No. 1 Motion to Concur Referred to Assignments `referral-committee`
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- **2016-11-16** House Floor Amendment No. 2 Motion to Concur Filed with Secretary Sen. Iris Y. Martinez `filing`
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- **2016-11-16** House Floor Amendment No. 2 Motion to Concur Referred to Assignments `referral-committee`
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- **2016-11-16** Added as Chief Co-Sponsor Sen. Pamela J. Althoff
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- **2016-11-29** House Committee Amendment No. 1 Motion to Concur Assignments Referred to Licensed Activities and Pensions `referral-committee`
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- **2016-11-29** House Floor Amendment No. 2 Motion to Concur Assignments Referred to Licensed Activities and Pensions `referral-committee`
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- **2016-11-29** House Committee Amendment No. 1 Motion To Concur Recommended Do Adopt Licensed Activities and Pensions; 007-000-000
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- **2016-11-29** House Floor Amendment No. 2 Motion To Concur Recommended Do Adopt Licensed Activities and Pensions; 007-000-000
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- **2016-12-01** 3/5 Vote Required
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- **2016-12-01** House Committee Amendment No. 1 Senate Concurs 051-000-000
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- **2016-12-01** House Floor Amendment No. 2 Senate Concurs 051-000-000
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- **2016-12-01** Senate Concurs
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- **2016-12-01** Passed Both Houses
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- **2016-12-15** Sent to the Governor `executive-receipt`
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- **2016-12-16** Governor Approved `executive-signature`
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- **2016-12-16** Effective Date December 16, 2016; Some Portions
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- **2016-12-16** Effective Date January 1, 2017; Some Portions
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- **2016-12-16** Public Act . . . . . . . . . 99-0909 `became-law`
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## Source
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OpenStates / OpenCivicData bulk snapshot [2026-07-01](https://data.openstates.org/daily/2026-07-01/public.pgdump); origin `ocd-bill/c7711367-5dfe-4d51-bf7c-0d0cde287264`. Confidence: reported (aggregated from official Illinois legislature records).
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