Illinois 2025-2026 Regular Session

Illinois Senate Bill SB2472 Compare Versions

Only one version of the bill is available at this time.

Old	New	Differences
1	1	104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026 SB2472 Introduced 2/7/2025, by Sen. Laura Ellman SYNOPSIS AS INTRODUCED: 215 ILCS 5/143.15 from Ch. 73, par. 755.15215 ILCS 5/143.17 from Ch. 73, par. 755.17215 ILCS 5/Art. XLVIII heading new215 ILCS 5/1801 new215 ILCS 5/1805 new215 ILCS 5/1810 new215 ILCS 5/1815 new Amends the Illinois Insurance Code. Provides that specified notices of cancellation of insurance must be mailed at least 30 days prior to the effective date of cancellation to the named insured if the effective date of cancellation is within the first 60 days of coverage. Provides that, after the coverage has been effective for 61 days or more, all notices must be mailed at least 60 days prior to the effective date of cancellation. Makes conforming changes. Creates the Climate Risk Disclosure Article. Provides that the Article applies to all companies licensed in Illinois under Classes 2 and 3 that write $100,000,000 or more annually in premiums. Allows the monetary threshold to be altered by rule. Requires all insurers subject to the Article to, upon direction from the Department of Insurance, participate in National Association of Insurance Commissioners issued climate surveys and Department issued climate surveys. LRB104 11269 BAB 21353 b A BILL FOR 104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026 SB2472 Introduced 2/7/2025, by Sen. Laura Ellman SYNOPSIS AS INTRODUCED: 215 ILCS 5/143.15 from Ch. 73, par. 755.15215 ILCS 5/143.17 from Ch. 73, par. 755.17215 ILCS 5/Art. XLVIII heading new215 ILCS 5/1801 new215 ILCS 5/1805 new215 ILCS 5/1810 new215 ILCS 5/1815 new 215 ILCS 5/143.15 from Ch. 73, par. 755.15 215 ILCS 5/143.17 from Ch. 73, par. 755.17 215 ILCS 5/Art. XLVIII heading new 215 ILCS 5/1801 new 215 ILCS 5/1805 new 215 ILCS 5/1810 new 215 ILCS 5/1815 new Amends the Illinois Insurance Code. Provides that specified notices of cancellation of insurance must be mailed at least 30 days prior to the effective date of cancellation to the named insured if the effective date of cancellation is within the first 60 days of coverage. Provides that, after the coverage has been effective for 61 days or more, all notices must be mailed at least 60 days prior to the effective date of cancellation. Makes conforming changes. Creates the Climate Risk Disclosure Article. Provides that the Article applies to all companies licensed in Illinois under Classes 2 and 3 that write $100,000,000 or more annually in premiums. Allows the monetary threshold to be altered by rule. Requires all insurers subject to the Article to, upon direction from the Department of Insurance, participate in National Association of Insurance Commissioners issued climate surveys and Department issued climate surveys. LRB104 11269 BAB 21353 b LRB104 11269 BAB 21353 b A BILL FOR
2	2	104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026 SB2472 Introduced 2/7/2025, by Sen. Laura Ellman SYNOPSIS AS INTRODUCED:
3	3	215 ILCS 5/143.15 from Ch. 73, par. 755.15215 ILCS 5/143.17 from Ch. 73, par. 755.17215 ILCS 5/Art. XLVIII heading new215 ILCS 5/1801 new215 ILCS 5/1805 new215 ILCS 5/1810 new215 ILCS 5/1815 new 215 ILCS 5/143.15 from Ch. 73, par. 755.15 215 ILCS 5/143.17 from Ch. 73, par. 755.17 215 ILCS 5/Art. XLVIII heading new 215 ILCS 5/1801 new 215 ILCS 5/1805 new 215 ILCS 5/1810 new 215 ILCS 5/1815 new
4	4	215 ILCS 5/143.15 from Ch. 73, par. 755.15
5	5	215 ILCS 5/143.17 from Ch. 73, par. 755.17
6	6	215 ILCS 5/Art. XLVIII heading new
7	7	215 ILCS 5/1801 new
8	8	215 ILCS 5/1805 new
9	9	215 ILCS 5/1810 new
10	10	215 ILCS 5/1815 new
11	11	Amends the Illinois Insurance Code. Provides that specified notices of cancellation of insurance must be mailed at least 30 days prior to the effective date of cancellation to the named insured if the effective date of cancellation is within the first 60 days of coverage. Provides that, after the coverage has been effective for 61 days or more, all notices must be mailed at least 60 days prior to the effective date of cancellation. Makes conforming changes. Creates the Climate Risk Disclosure Article. Provides that the Article applies to all companies licensed in Illinois under Classes 2 and 3 that write $100,000,000 or more annually in premiums. Allows the monetary threshold to be altered by rule. Requires all insurers subject to the Article to, upon direction from the Department of Insurance, participate in National Association of Insurance Commissioners issued climate surveys and Department issued climate surveys.
12	12	LRB104 11269 BAB 21353 b LRB104 11269 BAB 21353 b
13	13	LRB104 11269 BAB 21353 b
14	14	A BILL FOR
15	15	SB2472LRB104 11269 BAB 21353 b SB2472 LRB104 11269 BAB 21353 b
16	16	SB2472 LRB104 11269 BAB 21353 b
17	17	1 AN ACT concerning regulation.
18	18	2 Be it enacted by the People of the State of Illinois,
19	19	3 represented in the General Assembly:
20	20	4 Section 5. The Illinois Insurance Code is amended by
21	21	5 changing Sections 143.15 and 143.17 and by adding Article
22	22	6 XLVIII as follows:
23	23	7 (215 ILCS 5/143.15) (from Ch. 73, par. 755.15)
24	24	8 Sec. 143.15. Mailing of cancellation notice. All notices
25	25	9 of cancellation of insurance as defined in subsections (a),
26	26	10 (b) and (c) of Section 143.13 must be mailed at least 30 days
27	27	11 prior to the effective date of cancellation to the named
28	28	12 insured if the effective date of cancellation is within the
29	29	13 first 60 days of coverage. After the coverage has been
30	30	14 effective for 61 days or more, all notices must be mailed at
31	31	15 least 60 days prior to the effective date of cancellation.
32	32	16 However ; however, if cancellation is for nonpayment of
33	33	17 premium, the notice of cancellation must be mailed at least 10
34	34	18 days before the effective date of the cancellation to the last
35	35	19 mailing address known to the company. All notices of
36	36	20 cancellation to the named insured shall include a specific
37	37	21 explanation of the reason or reasons for cancellation. For
38	38	22 purposes of this Section, the mortgagee or lien holder, if
39	39	23 known, may opt to accept notification electronically.
40	40
41	41
42	42
43	43	104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026 SB2472 Introduced 2/7/2025, by Sen. Laura Ellman SYNOPSIS AS INTRODUCED:
44	44	215 ILCS 5/143.15 from Ch. 73, par. 755.15215 ILCS 5/143.17 from Ch. 73, par. 755.17215 ILCS 5/Art. XLVIII heading new215 ILCS 5/1801 new215 ILCS 5/1805 new215 ILCS 5/1810 new215 ILCS 5/1815 new 215 ILCS 5/143.15 from Ch. 73, par. 755.15 215 ILCS 5/143.17 from Ch. 73, par. 755.17 215 ILCS 5/Art. XLVIII heading new 215 ILCS 5/1801 new 215 ILCS 5/1805 new 215 ILCS 5/1810 new 215 ILCS 5/1815 new
45	45	215 ILCS 5/143.15 from Ch. 73, par. 755.15
46	46	215 ILCS 5/143.17 from Ch. 73, par. 755.17
47	47	215 ILCS 5/Art. XLVIII heading new
48	48	215 ILCS 5/1801 new
49	49	215 ILCS 5/1805 new
50	50	215 ILCS 5/1810 new
51	51	215 ILCS 5/1815 new
52	52	Amends the Illinois Insurance Code. Provides that specified notices of cancellation of insurance must be mailed at least 30 days prior to the effective date of cancellation to the named insured if the effective date of cancellation is within the first 60 days of coverage. Provides that, after the coverage has been effective for 61 days or more, all notices must be mailed at least 60 days prior to the effective date of cancellation. Makes conforming changes. Creates the Climate Risk Disclosure Article. Provides that the Article applies to all companies licensed in Illinois under Classes 2 and 3 that write $100,000,000 or more annually in premiums. Allows the monetary threshold to be altered by rule. Requires all insurers subject to the Article to, upon direction from the Department of Insurance, participate in National Association of Insurance Commissioners issued climate surveys and Department issued climate surveys.
53	53	LRB104 11269 BAB 21353 b LRB104 11269 BAB 21353 b
54	54	LRB104 11269 BAB 21353 b
55	55	A BILL FOR
56	56
57	57
58	58
59	59
60	60
61	61	215 ILCS 5/143.15 from Ch. 73, par. 755.15
62	62	215 ILCS 5/143.17 from Ch. 73, par. 755.17
63	63	215 ILCS 5/Art. XLVIII heading new
64	64	215 ILCS 5/1801 new
65	65	215 ILCS 5/1805 new
66	66	215 ILCS 5/1810 new
67	67	215 ILCS 5/1815 new
68	68
69	69
70	70
71	71	LRB104 11269 BAB 21353 b
72	72
73	73
74	74
75	75
76	76
77	77
78	78
79	79
80	80
81	81	SB2472 LRB104 11269 BAB 21353 b
82	82
83	83
84	84	SB2472- 2 -LRB104 11269 BAB 21353 b SB2472 - 2 - LRB104 11269 BAB 21353 b
85	85	SB2472 - 2 - LRB104 11269 BAB 21353 b
86	86	1 (Source: P.A. 100-475, eff. 1-1-18.)
87	87	2 (215 ILCS 5/143.17) (from Ch. 73, par. 755.17)
88	88	3 Sec. 143.17. Notice of intention not to renew.
89	89	4 a. No company shall fail to renew any policy of insurance,
90	90	5 as defined in subsections (a), (b), (c), and (h) of Section
91	91	6 143.13, to which Section 143.11 applies, unless it shall send
92	92	7 by mail to the named insured at least 60 30 days advance notice
93	93	8 of its intention not to renew. The company shall maintain
94	94	9 proof of mailing of such notice on a recognized U.S. Post
95	95	10 Office form or a form acceptable to the U. S. Post Office or
96	96	11 other commercial mail delivery service. The nonrenewal shall
97	97	12 not become effective until at least 60 30 days from the proof
98	98	13 of mailing date of the notice to the name insured.
99	99	14 Notification shall also be sent to the insured's broker, if
100	100	15 known, or the agent of record, if known, and to the last known
101	101	16 mortgagee or lien holder. For purposes of this Section, the
102	102	17 mortgagee or lien holder, insured's broker, or the agent of
103	103	18 record may opt to accept notification electronically. However,
104	104	19 where cancellation is for nonpayment of premium, the notice of
105	105	20 cancellation must be mailed at least 10 days before the
106	106	21 effective date of the cancellation.
107	107	22 b. This Section does not apply if the company has
108	108	23 manifested its willingness to renew directly to the named
109	109	24 insured. Such written notice shall specify the premium amount
110	110	25 payable, including any premium payment plan available, and the
111	111
112	112
113	113
114	114
115	115
116	116	SB2472 - 2 - LRB104 11269 BAB 21353 b
117	117
118	118
119	119	SB2472- 3 -LRB104 11269 BAB 21353 b SB2472 - 3 - LRB104 11269 BAB 21353 b
120	120	SB2472 - 3 - LRB104 11269 BAB 21353 b
121	121	1 name of any person or persons, if any, authorized to receive
122	122	2 payment on behalf of the company. If no person is so
123	123	3 authorized, the premium notice shall so state.
124	124	4 b-5. This Section does not apply if the company manifested
125	125	5 its willingness to renew directly to the named insured.
126	126	6 However, no company may impose changes in deductibles or
127	127	7 coverage for any policy forms applicable to an entire line of
128	128	8 business enumerated in subsections (a), (b), (c), and (h) of
129	129	9 Section 143.13 to which Section 143.11 applies unless the
130	130	10 company mails to the named insured written notice of the
131	131	11 change in deductible or coverage at least 60 days prior to the
132	132	12 renewal or anniversary date. Notice shall also be sent to the
133	133	13 insured's broker, if known, or the agent of record.
134	134	14 c. Should a company fail to comply with (a) or (b) of this
135	135	15 Section, the policy shall terminate only on the effective date
136	136	16 of any similar insurance procured by the insured with respect
137	137	17 to the same subject or location designated in both policies.
138	138	18 d. Renewal of a policy does not constitute a waiver or
139	139	19 estoppel with respect to grounds for cancellation which
140	140	20 existed before the effective date of such renewal.
141	141	21 e. In all notices of intention not to renew any policy of
142	142	22 insurance, as defined in Section 143.11 the company shall
143	143	23 provide the named insured a specific explanation of the
144	144	24 reasons for nonrenewal.
145	145	25 f. For purposes of this Section, the insured's broker, if
146	146	26 known, or the agent of record and the mortgagee or lien holder
147	147
148	148
149	149
150	150
151	151
152	152	SB2472 - 3 - LRB104 11269 BAB 21353 b
153	153
154	154
155	155	SB2472- 4 -LRB104 11269 BAB 21353 b SB2472 - 4 - LRB104 11269 BAB 21353 b
156	156	SB2472 - 4 - LRB104 11269 BAB 21353 b
157	157	1 may opt to accept notification electronically.
158	158	2 (Source: P.A. 100-475, eff. 1-1-18.)
159	159	3 (215 ILCS 5/Art. XLVIII heading new)
160	160	4 ARTICLE XLVIII. CLIMATE RISK DISCLOSURE
161	161	5 (215 ILCS 5/1801 new)
162	162	6 Sec. 1801. Short title. This Article may be cited as the
163	163	7 Climate Risk Disclosure Law.
164	164	8 (215 ILCS 5/1805 new)
165	165	9 Sec. 1805. Purpose. The purpose of this Article is to
166	166	10 enhance transparency about how insurers manage climate-related
167	167	11 risks and to clarify the Department's authority to require
168	168	12 companies to participate in climate surveys issued by entities
169	169	13 including but not limited to the Department and the National
170	170	14 Association of Insurance Commissioners. This Article shall be
171	171	15 liberally interpreted to carry into effect the intent of this
172	172	16 Section.
173	173	17 (215 ILCS 5/1810 new)
174	174	18 Sec. 1810. Applicability. This Article applies to all
175	175	19 companies licensed in Illinois under Classes 2 and 3 of
176	176	20 Section 4 of this Code that write $100,000,000 or more
177	177	21 annually in premiums. This threshold may be altered by rule.
178	178
179	179
180	180
181	181
182	182
183	183	SB2472 - 4 - LRB104 11269 BAB 21353 b
184	184
185	185
186	186	SB2472- 5 -LRB104 11269 BAB 21353 b SB2472 - 5 - LRB104 11269 BAB 21353 b
187	187	SB2472 - 5 - LRB104 11269 BAB 21353 b
188	188
189	189
190	190
191	191
192	192
193	193	SB2472 - 5 - LRB104 11269 BAB 21353 b