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Full Text of SB4006

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SB4006 - 104th General Assembly

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Senate Amendment 001

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SB4006 Enrolled
LRB104 19837 BAB 33287 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 Sections 143.16 and 143.17 and by adding Section
6
143.21e and Article XLVIII as follows:

7

(215 ILCS 5/143.16)

(from Ch. 73, par. 755.16)
8

Sec. 143.16.
Mailing of cancellation notice.
All notices
9
of cancellation of insurance to which Section 143.11 applies
,
10
except for those defined in subsections (a), (b) and (c) of
11
Section 143.13
must be mailed at least 30 days prior to the
12
effective date of cancellation during the first 60 days of
13
coverage. After the coverage has been effective for 61 days or
14
more, all notices must be mailed at least 60 days prior to the
15
effective date of cancellation. However, where cancellation is
16
for nonpayment of premium, the notice of cancellation must be
17
mailed at least 10 days before the effective date of the
18
cancellation. All such notices shall include a specific
19
explanation of the reason or reasons for cancellation and
20
shall be mailed to the named insured at the last mailing
21
address known to the company. For purposes of this Section,
22
the mortgagee or lien holder, if known, may opt to accept
23
notification electronically.

SB4006 Enrolled
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LRB104 19837 BAB 33287 b
1
(Source: P.A. 100-475, eff. 1-1-18
.)

2

(215 ILCS 5/143.17)

(from Ch. 73, par. 755.17)
3

Sec. 143.17.
Notice of intention not to renew.
4

a. No company shall fail to renew any policy of insurance,
5
as defined in subsections (a), (b), (c), and (h) of Section
6
143.13, to which Section 143.11 applies, unless it shall send
7
by mail to the named insured at least
60

30
days advance notice
8
of its intention not to renew. The company shall maintain
9
proof of mailing of such notice on a recognized U.S. Post
10
Office form or a form acceptable to the U. S. Post Office or
11
other commercial mail delivery service. The nonrenewal shall
12
not become effective until at least
60

30
days from the proof
13
of mailing date of the notice to the name insured.
14
Notification shall also be sent to the insured's broker, if
15
known, or the agent of record, if known, and to the last known
16
mortgagee or lien holder. For purposes of this Section, the
17
mortgagee or lien holder, insured's broker, or the agent of
18
record may opt to accept notification electronically. However,
19
where cancellation is for nonpayment of premium, the notice of
20
cancellation must be mailed at least 10 days before the
21
effective date of the cancellation.
22

b. This Section does not apply if the company has
23
manifested its willingness to renew directly to the named
24
insured. Such written notice shall specify the premium amount
25
payable, including any premium payment plan available, and the

SB4006 Enrolled
- 3 -
LRB104 19837 BAB 33287 b
1
name of any person or persons, if any, authorized to receive
2
payment on behalf of the company. If no person is so
3
authorized, the premium notice shall so state.
4

b-5. This Section does not apply if the company manifested
5
its willingness to renew directly to the named insured.
6
However, no company may impose changes in deductibles or
7
coverage for any policy forms applicable to an entire line of
8
business enumerated in subsections (a), (b), (c), and (h) of
9
Section 143.13 to which Section 143.11 applies unless the
10
company mails to the named insured written notice of the
11
change in deductible or coverage at least 60 days prior to the
12
renewal or anniversary date. Notice shall also be sent to the
13
insured's broker, if known, or the agent of record.
14

c. Should a company fail to comply with (a) or (b) of this
15
Section, the policy shall terminate only on the effective date
16
of any similar insurance procured by the insured with respect
17
to the same subject or location designated in both policies.
18

d. Renewal of a policy does not constitute a waiver or
19
estoppel with respect to grounds for cancellation which
20
existed before the effective date of such renewal.
21

e. In all notices of intention not to renew any policy of
22
insurance, as defined in Section 143.11 the company shall
23
provide the named insured a specific explanation of the
24
reasons for nonrenewal.
25

f. For purposes of this Section, the insured's broker, if
26
known, or the agent of record and the mortgagee or lien holder

SB4006 Enrolled
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LRB104 19837 BAB 33287 b
1
may opt to accept notification electronically.
2
(Source: P.A. 100-475, eff. 1-1-18
.)

3

(215 ILCS 5/143.21e new)
4

Sec. 143.21e.
Flood coverage; notice.
5

(a) Each insurer that delivers, issues for delivery, or
6
renews in this State a policy of fire and extended coverage
7
that does not provide coverage for loss caused by flood shall
8
provide to the insured a notice prescribed by the Director
9
that explains clearly, conspicuously, and in plain language:

10

(1) the policy does not provide coverage for loss
11

caused by flood;

12

(2) whether coverage for loss caused by flood is
13

available to the applicant through the company; and

14

(3) the availability of coverage for loss caused by
15

flood through the National Flood Insurance Program,
16

whether the company can write such coverage, and how to
17

obtain coverage through the National Flood Insurance
18

Program.

19

(b) At the time of policy issuance, the company must
20
obtain a written signature from the insured affirming the
21
flood coverage options were presented to the applicant in
22
plain language and that the applicant is declining coverage
23
for loss caused by flood, if available through the company.

24

(215 ILCS 5/Art. XLVIII heading new)

SB4006 Enrolled
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LRB104 19837 BAB 33287 b
1
ARTICLE XLVIII.

CLIMATE RISK DISCLOSURE

2

(215 ILCS 5/1801 new)
3

Sec. 1801.
Short title.
This Article may be referred to as
4
the Climate Risk Disclosure Law.

5

(215 ILCS 5/1805 new)
6

Sec. 1805.
Purpose.
The purpose of this Article is to
7
enhance transparency about how insurers manage climate-related
8
risks and to clarify the Department's authority to require
9
companies to participate in the National Association of
10
Insurance Commissioners' Climate Risk Disclosure Survey.

11

(215 ILCS 5/1810 new)
12

Sec. 1810.
Applicability.
This Article applies to every
13
company licensed in Illinois under Classes 1, 2, or 3 of
14
Section 4 of this Code and every dental service plan
15
corporation, health maintenance organization, or limited
16
health service organization licensed in Illinois when such
17
company, corporation, or organization writes $100,000,000 or
18
more annually in direct premiums nationwide. This threshold
19
may be altered by rule.

20

(215 ILCS 5/1815 new)
21

Sec. 1815.
Climate disclosure survey participation.
All
22
companies, corporations, and organizations subject to this

SB4006 Enrolled
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LRB104 19837 BAB 33287 b
1
Article shall, upon direction from the Department, participate
2
in the National Association of Insurance Commissioners'
3
Climate Risk Disclosure Survey, or any successor process
4
coordinated through the National Association of Insurance
5
Commissioners.

6

Section 99.
Effective date.
This Act takes effect upon
7
becoming law, except that Section 143.21e of the Illinois
8
Insurance Code and the changes made to Sections 143.16 and
9
143.17 of the Illinois Insurance Code take effect January 1,
10
2027.

SB4006 Enrolled
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LRB104 19837 BAB 33287 b
1

INDEX

2

Statutes amended in order of appearance

3

20 ILCS 605/871 new
4

30 ILCS 105/5.1038 new
5

215 ILCS 5/143.16
from Ch. 73, par. 755.16
6

215 ILCS 5/143.17
from Ch. 73, par. 755.17
7

215 ILCS 5/143.21e new
8

215 ILCS 5/Art. XLVIII
9

heading new
10

215 ILCS 5/1801 new
11

215 ILCS 5/1805 new
12

215 ILCS 5/1810 new
13

215 ILCS 5/1815 new
14

215 ILCS 5/Art. XLIX
15

heading new
16

215 ILCS 5/1901 new
17

215 ILCS 5/1902 new
18

215 ILCS 5/1905 new
19

215 ILCS 5/1910 new
20

215 ILCS 5/1920 new
21

215 ILCS 5/1925 new
22

215 ILCS 5/1930 new
23

215 ILCS 5/143.15 rep.
24

215 ILCS 110/25
from Ch. 32, par. 690.25
25

215 ILCS 125/5-3
from Ch. 111 1/2, par. 1411.2

SB4006 Enrolled
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LRB104 19837 BAB 33287 b
1

215 ILCS 130/4003
from Ch. 73, par. 1504-3

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