ILCS » Chapter 215 · Act 5
Illinois Compiled Statutes

215 ILCS 5/532 (2026)

Purpose

✓ current as of May 2026
Find cases: SyfertCases citing this section IL-ILGAilga.gov JustiaChapter on Justia CornellLII Search CasesGoogle Scholar
(215 ILCS 5/532) (from Ch. 73, par. 1065.82)
    Sec. 532. Purpose.
    (a) The purpose of this Article is to provide a mechanism for the payment of covered claims under certain insurance policies, to avoid excessive delay in payment of covered claims, to avoid financial loss to claimants or policyholders because of the entry of an Order of Liquidation against an insolvent company, including through services offered to the Director in her or his capacity as receiver under Article XIII of this Code that relate to covered claims, to provide a Fund to assess among member companies the costs of such protection and maintain the continuity and self-sufficient operation of the Fund, and to offset the costs associated with maintaining the Fund's continuity and self-sufficient operations when practical by providing assistance and services to the Director in her or his capacity as receiver under Article XIII of this Code as described in this Section.
    (b) The purpose of this Article is also to provide a mechanism for the Fund to participate in and facilitate the process by which the assets of an insolvent company are marshaled and distributed pursuant to Article XIII of this Code beyond reimbursing the cost of covered claims. This subsection (b) is inoperative 5 years after the effective date of this amendatory Act of the 102nd General Assembly.
(Source: P.A. 102-396, eff. 8-16-21.)

    
Notes of Decisions
Cited in 38 cases (3 in the last 5 years), 1995–2025 · leading case: N. Illinois Emergency Physicians v. Landau, Omahana & Kopka, Ltd., 837 N.E.2d 99 (Ill. 2005).
Sort: Relevance Newest Treatment
N. Illinois Emergency Physicians v. Landau, Omahana & Kopka, Ltd., 837 N.E.2d 99 (Ill. 2005). “of the Illinois Insurance Code (215 ILCS 5/532 et seq. (West 1994)). After judgment was entered in favor of Erica’s parents and against Dr.”
Skokie Castings v. Illinois Ins. Guar. Fund, 2012 IL App (1st) 111533 (Ill. App. Ct. 2012). · cites it 3× “¶5 Following the liquidation of Home, the Fund, pursuant to the statute creating the Fund (215 ILCS 5/532 et seq. (West 2004)), began paying benefits based on the Soloky award and Soloky’s ongoing medical needs.”
IPF Recovery Co. v. Illinois Ins. Guar. Fund, 826 N.E.2d 943 (Ill. App. Ct. 2005). · cites it 2× “STATEMENT OF FACTS Plaintiffs cause of action against defendant involves defendant’s alleged breach of its statutory duties, by its refusal to pay plaintiffs claims for unearned premiums, under the Illinois Insurance Guaranty Fund Act (the Guaranty Fund Act) (215 ILCS 5/532 et…”
Hasemann v. White, 686 N.E.2d 571 (Ill. 1997). · cites it 2× “215 ILCS 5/532 et seq. (West 1994). To make a claim on the Fund, a claimant possessing a "[c]overed claim” must first "exhaust his rights” under any other insurance policy applicable to the loss in question.”
Claudy v. Commonwealth Edison Co., 660 N.E.2d 895 (Ill. 1995). · cites it 2× “See 215 ILCS 5/532 et seq. (West 1992). In 1989, plaintiff and the city agreed that $500,000 represented the damages suffered by the plaintiff and, based upon this figure, settled the wrongful death suit.”
Skokie Castings, Inc. v. Illinois Ins. Guar. Fund, 2013 IL 113873 (Ill. 2013). · cites it 4× “See 215 ILCS 5/532 et seq. (West 2010). The Fund’s obligation to pay covered claims is subject to certain qualifications and limitations, including a cap on the amount it will pay on any particular claim.”
Roth v. Illinois Ins. Guar. Fund, 852 N.E.2d 289 (Ill. App. Ct. 2006). “2d 856 (1995), quoting 215 ILCS 5/532 (West 1992). Under the the Act, the Fund is to be “a source of last resort” in the event of the insolvency of an insurer.”
Skokie Castings, Inc. v. Illinois Ins. Guar. Fund, 2013 IL 113873 (Ill. 2013). · cites it 4× “See 215 ILCS 5/532 et seq. (West 2010). The Fund’s obligation to pay covered claims is subject to certain qualifications and limitations, including a cap on the amount it will pay on any particular claim.”
Illinois Ins. Guar. Fund v. Farmland Mut. Ins., 653 N.E.2d 856 (Ill. App. Ct. 1995). · cites it 2× “The Illinois Insurance Guaranty Fund assumed Edison’s obligations under the Illinois Insurance Guaranty Fund Act (Act) (215 ILCS 5/532 et seq. (West 1992)). With Edison insolvent, S&S Transportation and Hileman tendered their defense to Farmland, but Farmland refused.”
Illinois Ins. Guar. Fund v. Priority Transp., Inc., 2019 IL App (1st) 181454 (Ill. App. Ct. 2020). “, and TGT Merger had their own workers’ compensation policy and, under article XXXIV of the Illinois Insurance Code (215 ILCS 5/532 to 553 (West 2000)), that coverage was primary to the coverage provided by the Fund and should have been exhausted prior to the Fund being…”
Liquidation of Pine Top Ins. v. Shapo, 749 N.E.2d 1011 (Ill. App. Ct. 2001). · cites it 2× “Thereafter, the Illinois Insurance Guaranty Fund (Guaranty Fund) paid the Estate $150,000 on its claim in accordance with the provisions of the Illinois Insurance Guaranty Fund Act (111.”
Barbee v. Illinois Ins. Guar. Fund, 915 N.E.2d 871 (Ill. App. Ct. 2009). · cites it 4× “(now see 215 ILCS 5/532 et seq. (West 2008))). Thereafter, the Fund assumed and continued the disability benefits payments to Wilford Barbee.”
Show all 38 citing cases →
Annotations are extracted automatically from the opinions in the Syfert caselaw corpus and ranked by authority, recency, and treatment. Dots show Syfertize treatment of the citing case itself.