Illinois SB 1769: INS CD-REBATE PAYMENT & ACCEPT

Status: Rule 3-9(a) / Re-referred to Assignments (as of 2025-03-21)

State: Illinois · Session: 104th · Bill: SB 1769

Sponsors: Dave Syverson

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 Full Text of SB1769

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104TH GENERAL ASSEMBLY 
State of Illinois 
2025 and 2026
SB1769

Introduced 2/5/2025, by Sen. Dave Syverson 

SYNOPSIS AS INTRODUCED:

215 ILCS 5/151 from Ch. 73, par. 763

 Amends the Illinois Insurance Code. Provides that nothing in provisions prohibiting the payment or acceptance of rebates shall prevent the offer or provision by insurers or producers, by or through employees, affiliates, or third-party representatives, of value-added products or services at no or reduced cost when such products or services are not specified in the policy of insurance, so long as the product or service relates to the insurance coverage and is primarily designed to satisfy specified criteria. Sets forth provisions concerning the requirements for insurers or producers offering non-cash gifts, items, or services or conducting raffles or drawings. Provides that an insurer, producer, or representative of an insurer or producer may not offer or provide insurance as an inducement to the purchase of another policy or otherwise use the words "free", "no cost", or words of similar import in an advertisement.

LRB104 08209 BAB 18259 b

A BILL FOR

SB1769LRB104 08209 BAB 18259 b

1 AN ACT concerning regulation.

2 Be it enacted by the People of the State of Illinois, 

3represented in the General Assembly:

4 Section 5. The Illinois Insurance Code is amended by 

5changing Section 151 as follows:

6 (215 ILCS 5/151) (from Ch. 73, par. 763)

7 Sec. 151. Payment or acceptance of rebates prohibited. 

8 (a) (1) No company doing business in this State and no 

9insurance agent or broker shall offer, promise, allow, give, 

10set off or pay, directly or indirectly, any rebate of or part 

11of the premium payable on the policy, or on any policy or 

12agent's com

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