WESTCHESTER, Ill. – Auto and specialty vehicle salvage auction company Insurance Auto Auctions (IAA) has played a key role in the recent passing of Illinois House Bill 5204, legislation that addresses both purchase privileges for out-of-state buyers and salvage certificates for unrecovered theft vehicles in the state of Illinois. IAA says it led the effort to amend and revise the Bill and lobbied for its passing within the Illinois General Assembly.
The Bill amends the Illinois Vehicle Code and Auction License Act to allow licensed out-of-state salvage buyers to participate in auctions in the state without having to secure an Illinois Out-of-State Salvage Vehicle Buyer’s ID Card (“Bid Card”). In addition, the revised Bill allows insurance companies to maintain a certificate of title in the case of a settled unrecovered theft vehicle claim and only secure a salvage certificate if the vehicle is recovered and warrants such a certificate. “Participating in legislation and regulation that can affect the salvage auto auction industry is our responsibility to customers,” states Tom O’Brien, CEO of IAA. “Illinois House Bill 5204 further opens Illinois’ doors to out-of-state buyers enhancing both the diversity of buyers as well as the demand for the vehicles, and that benefits everyone in our market.” “In the salvage auto auction industry reasonable legislation is critical to the industry’s overall health,” comments Michael Mannion, Illinois lobbyist. “And ensuring that salvage or junk certificates are placed only on vehicles deserving such classification maintains the integrity of both salvage and whole cars.” IAA works in concert with the salvage auto auction industry, as well as state and federal government, to facilitate legislation and regulation that ensures responsible business conduct and continued healthy expansion of the salvage auto auction industry. The company is in the process of reviewing bills in several other states to benefit the industry and all of its participants. For more information visit www.iaai.com. | 
