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
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
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
LRB104 11269 BAB 21353 b
A BILL FOR
SB2472LRB104 11269 BAB 21353 b SB2472 LRB104 11269 BAB 21353 b
SB2472 LRB104 11269 BAB 21353 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 143.15 and 143.17 and by adding Article
6 XLVIII as follows:
7 (215 ILCS 5/143.15) (from Ch. 73, par. 755.15)
8 Sec. 143.15. Mailing of cancellation notice. All notices
9 of cancellation of insurance as defined in subsections (a),
10 (b) and (c) of Section 143.13 must be mailed at least 30 days
11 prior to the effective date of cancellation to the named
12 insured if the effective date of cancellation is within the
13 first 60 days of coverage. After the coverage has been
14 effective for 61 days or more, all notices must be mailed at
15 least 60 days prior to the effective date of cancellation.
16 However ; however, if cancellation is for nonpayment of
17 premium, the notice of cancellation must be mailed at least 10
18 days before the effective date of the cancellation to the last
19 mailing address known to the company. All notices of
20 cancellation to the named insured shall include a specific
21 explanation of the reason or reasons for cancellation. For
22 purposes of this Section, the mortgagee or lien holder, if
23 known, may opt to accept notification electronically.
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
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
LRB104 11269 BAB 21353 b
A BILL FOR
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
LRB104 11269 BAB 21353 b
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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
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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
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1 may opt to accept notification electronically.
2 (Source: P.A. 100-475, eff. 1-1-18.)
3 (215 ILCS 5/Art. XLVIII heading new)
4 ARTICLE XLVIII. CLIMATE RISK DISCLOSURE
5 (215 ILCS 5/1801 new)
6 Sec. 1801. Short title. This Article may be cited as the
7 Climate Risk Disclosure Law.
8 (215 ILCS 5/1805 new)
9 Sec. 1805. Purpose. The purpose of this Article is to
10 enhance transparency about how insurers manage climate-related
11 risks and to clarify the Department's authority to require
12 companies to participate in climate surveys issued by entities
13 including but not limited to the Department and the National
14 Association of Insurance Commissioners. This Article shall be
15 liberally interpreted to carry into effect the intent of this
16 Section.
17 (215 ILCS 5/1810 new)
18 Sec. 1810. Applicability. This Article applies to all
19 companies licensed in Illinois under Classes 2 and 3 of
20 Section 4 of this Code that write $100,000,000 or more
21 annually in premiums. This threshold may be altered by rule.
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