An insurance industry-supported bill that would modernize existing statutes by permitting insurers to electronically transfer cancellation and nonrenewal notices to agents unanimously passed the Illinois Senate and is headed for a first reading in the House, according to the (PCI).
SB 2491, introduced by Sen. John Cullerton, a Democrat, will permit electronic transfer of cancellations and nonrenewal notices to producers, mortgage lenders and lienholders. Current Illinois statute does not explicitly allow for an electronic-based information system.
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