The House also failed to override Rauner’s veto of a plan to set up an independent insurance company to compete for workers’ compensation coverage. But it did override Rauner on legislation to prohibit employers from seeking applicants’ salary histories and a measure pushed by Democratic Treasurer Michael Frerichs designed to make it easier to claim life insurance benefits when a policyholder dies.
The House voted 71-40 Wednesday to override Republican Gov. Bruce Rauner’s veto.
The proposal requires life insurance companies to compare electronic records of its policies in force since 2000 with the Social Security Administration’s list of deaths to determine whether a policy should be paid.
Auditors hired by the treasurer found that life insurance companies held more than $550 million between 2011 and 2015 that should have been paid to a decedent’s family members.
Republican Reps. Andersson, Harris, McAuliffe, McSweeney, Mitchell, Welter and Winger voted for it.
* The treasurer sent this out yesterday…
Thank you to the Illinois House of Representatives for siding with grieving families and overriding Governor Bruce Rauner’s amendatory veto of House Bill 302.
For decades, greedy life insurance companies have gotten away with using loopholes to pad their bottom line by avoiding paying grieving families.
Today’s action is a major step forward to help put a stop to this trend and require life insurance companies to pay what is owed to beneficiaries dating back to 2000.”
“I want to offer a special thanks to the House sponsor, Rep. Robert Martwick, AARP, NAACP, the many beneficiaries who stood with us to share their personal stories, and the seven House Republicans who voted to override the Governor’s veto and put aside partisanship to do the right thing,” added Frerichs.
The Illinois House vote to override passed 71- 40. The motion to override the Governor’s amendatory veto now moves to the Senate where Sen. Jacqueline Collins is the lead sponsor. If Sen. Collins’ motion to override receives the required 3/5 vote in the Senate, then House Bill 302 will become law despite the Governor’s veto.
House Bill 302 requires life insurance companies to compare electronic records of policies in force since 2000 with the Social Security Administration’s Death Master File (DMF) to determine if policies should have been paid to grieving families. Between 2011 and 2015, outside auditors hired by the state treasurer identified more than $550 million held by life insurance companies that should be have been paid to grieving families in Illinois.
* Meanwhile, here’s Michon Lindstrom…
The Senate approved an override of a bill backed by Attorney General Lisa Madigan which aims at protecting students when taking out student loans. SB1351, creates the Student Bill of Rights and prevents loan servicers from engaging in unfair or deceptive practices toward student borrowers.
“At a time where many young people are graduating from college with crippling debt, we need to make sure that students understand their rights and have access to proper resources. This legislation is a good first step to take in helping students and their families from falling behind on payments or defaulting on their loans.” said Senator Scott Bennett, (D-Champaign).