Bill
HB 3341
DOI cannot levy market-conduct fines without General Assembly approval; requires hearings with House/Senate Insurance Committees and a 30-day appeal window before public notices.
HB3341 (INS-DEPT/MARKET CONDUCT STUDY) – Comprehensive Summary
Overview
HB3341 would amend the Department of Insurance Law (Civil Administrative Code of Illinois) to create new procedures governing market conduct studies and the imposition of fines on insurance companies. The bill adds a requirement that the Department of Insurance (DOI) must obtain approval from the General Assembly before any fines are levied, and it establishes a formal hearing and appeal process involving legislative committees and a public-facing timeline.
What the bill would do
- Add a new provision (20 ILCS 1405/1405-52) establishing market conduct studies and hearings requirements.
- Require DOI to file any market conduct studies seeking to levy fines against an insurance company with the General Assembly before each legislative session, with the General Assembly’s approval needed prior to levying any fines.
- Require the DOI to conduct a hearing with the House Insurance Committee and Senate Insurance Committee before any further proceedings on the proposed fines.
- Create an appeal process for proposed fines, with a 30-day window after the committee hearings to schedule and conduct appeals prior to public announcements of the fines.
Key provisions and details
- New statute: 20 ILCS 1405/1405-52 (Market conduct studies and hearings).
- Approval gate: Fines may not be levied without General Assembly approval; the DOI must present market conduct studies seeking fines to the GA beforehand.
- Legislative oversight: A hearing must be held with the House Insurance Committee and Senate Insurance Committee before any further steps on the fines.
- Due-process timeline: If fines are proposed, an appeal process must be scheduled within 30 days after the committee hearings, prior to public announcements.
- Scope: Applies to market conduct studies that seek to levy fines against insurance companies; impacts the DOI and insurers subject to DOI enforcement.
Affected parties
- Department of Insurance (DOI): Responsible for filing, presenting, and implementing market conduct studies and fines under the new process.
- General Assembly: Acts as the approval body for fines.
- House Insurance Committee and Senate Insurance Committee: Required to hold hearings and participate in the process before fines proceed.
- Insurance companies subject to fines: Potentially subject to fines only after GA approval and after the hearing and appeal processes.
- Public: Affected by the requirement that any fines be announced only after the appeal window and hearings.
Status and timeline
- Introduced: February 2025 (Rep. Thaddeus Jones).
- Legislative actions show a progression through Rules and Executive committees, with initial readings in February and March 2025.
- Current status: Rule 19(a) / Re-referred to Rules Committee (as of the latest actions listed).
Notes
- The wording includes “before each legislative session,” which implies the DOI must file prior to sessions; interpretations may depend on how sessions are scheduled and how “before” is defined administratively.
- The bill emphasizes procedural transparency and due process in the imposition of fines.
This summary captures the bill’s intent to add legislative oversight, hearings, and a 30-day appeal window to the DOI’s process for market conduct fines.
Compiled from official sources — confirm details with the bill’s official record.
Sign in to ask a question.
