SB0644 Engrossed LRB098 04880 RPM 34908 b
1		AN ACT concerning regulation.
2		Be it enacted by the People of the State of Illinois,
3		represented in the General Assembly:
4		Section 5. The Illinois Insurance Code is amended by
5		changing Section 143.24d as follows:
6		(215 ILCS 5/143.24d)
7		Sec. 143.24d. Arbitration of physical damage subrogation
8		claims between insurers in certain cases.
9		(a) With respect to physical damage subrogation claims
10		arising from auto damages incurred on or after January 1, 2012,
11		insurers shall arbitrate and settle such claims where the
12		amount in controversy, exclusive of the costs of the
13		arbitration, is less than $2,500. Such arbitration shall be in
14		accordance with the terms of and rules adopted pursuant to the
15		Nationwide Inter-Company Arbitration Agreement, or any
16		successor thereto, as adopted and from time to time amended by
17		its members, unless the parties on a case-by-case basis
18		mutually agree to use another forum; the alternate forum may
19		include a court of competent jurisdiction, in which case the
20		claim shall be arbitrated or tried in that alternate forum.
21		Mandatory arbitration of disputed claims shall be limited
22		solely to the issues of liability and damages. Nothing in this
23		Section shall preclude a party from seeking resolution in a

SB0644 Engrossed - 2 - LRB098 04880 RPM 34908 b
1		court of competent jurisdiction after a decision has been
2		rendered in an arbitration.
3		(b) Nothing in this Section shall be interpreted to require
4		an insurer to become a member of any organization or to sign
5		the Nationwide Inter-Company Arbitration Agreement.