An Illinois Senate bill that would change the recovery system for uninsured motorists’ (UIM) coverage is strongly opposed by the insurance industry because of its potential to allow the “stacking” of policy limits, according to the Property Casualty Insurance Association of America (PCI). SB 2830, which is currently in the House Committee on Rules, would change Illinois Insurance Code language on recovery from “difference in limits” to a “modified difference in limits.” The bill could create a situation where insurers lose their ability to interpret one sentence as a reducing clause and it may allow for stacking of policy limits, the group said in a statement. “Stacking” refers to the process of combining uninsured/underinsured coverage limits.
Was this article valuable?
Here are more articles you may enjoy.
OpenAI Models Hacked Another Company’s Systems by Mistake 
Models Stripped of Insurance Cover for Club’s Unauthorized Use of Their Images 
FDA Walks Back Positive Lab Test in Lettuce Cyclospora Outbreak 
Air Taxi Service Across Parts of Florida Moving Closer to Reality From This Issue
