AUTO INS-RIGHT TO APPRAISAL

From the Legislature

Reinserts the provisions of the introduced bill with the following changes. Removes provisions concerning the Automotive Appraisal Standards Advisory Board. Removes provisions concerning third-party claims. Provides that, if the appraisers fail to agree on an umpire within 15 calendar days after they failed to agree on the amount of the loss or the settlement offer, either party may petition a court (instead of a court of competent jurisdiction or request assistance from the Department of Insurance) to appoint a suitable umpire. Provides that the Department shall maintain a list of competent and disinterested umpires and shall furnish that list to any party that requests the list. Provides that, if an umpire is selected pursuant to the provisions, a final award shall be determined within 5 calendar days after the umpire was selected. Removes a provision requiring the insurer to pay all appraisal and umpire fees if the final appraisal award is 10% or more favorable to the policyholder compared to the insurer's last written offer prior to appraisal. Provides that any insurer in Illinois that fails to comply with the appraisal provisions of the amendatory Act, including any refusal to participate in the process in good faith, shall be subject to administrative penalties imposed by the Department (instead of being subject to a specified civil penalty, additional administrative penalties, and liability for reasonable attorney's fees and appraisal costs). Removes provisions concerning rulemaking. Effective 90 days after becoming law.