Winger’s Bill to Help Premium Finance Companies Becomes Law

Representative Winger’s legislation to allow premium finance companies to send notices or documents electronically was recently signed into law. While previous legislation provides for insurance companies to do so, this bill extends this option to include premium finance companies. 

Delivering notices and important documents by electronic means provides for more efficient communications between consumers and companies. The legal effectiveness, validity, or enforceability of any agreements in documents sent electronically is to be considered the same as if sent in another manner. Some exclusions apply, but this will largely improve efficiency.

The need for this legislation was brought to Representative Winger’s attention by a local business, who recognized the necessity of providing this means of document transfer to a larger scope of businesses.

The bill, HB3244, passed smoothly with wide support in both the House and Senate and was signed by Governor Rauner on September 8th, becoming Public Act 100-0495.

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