Ill. Producer Licensing Legislation, Insurance Guaranty Fund Bills Await Governor’s Signature

June 6, 2001

As the 2001 Illinois General Assembly session comes to a close, the insurance industry awaits Governor Ryan’s signature on bills addressing producer licensing and the State insurance guaranty fund.

The National Association of Independent Insurers (NAII) supports HB 2994, which enacts the National Association of Insurance Commissioners (NAIC) Model producer licensing act.

In addition to producer licensing, the Illinois General Assembly unanimously approved NAII-supported legislation to increase the Insurance Guaranty Fund assessment from one percent to two percent.

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