Illinois SB 714: PUBLIC AID-TECH

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 Full Text of SB0714

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SB0714 EnrolledLRB104 07013 BAB 17050 b

1 AN ACT concerning regulation.

2 Be it enacted by the People of the State of Illinois, 

3represented in the General Assembly:

4 Section 5. The Illinois Insurance Code is amended by 

5changing Sections 143.17 and 143.29 and by adding Article 

6XLVIII as follows:

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

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

9 a. No company shall fail to renew any policy of insurance, 

10as defined in subsections (a), (b), (c), and (h) of Section 

11143.13, to which Section 143.11 applies, unless it shall send 

12by mail to the named insured at least 30 days advance notice of 

13its intention not to renew. The company shall maintain proof 

14of mailing of such notice on a recognized U.S. Post Office form 

15or a form acceptable to the U. S. Post Office or other 

16commercial mail delivery service. The nonrenewal shall not 

17become effective until at least 30 days from the proof of 

18mailing date of the notice to the name insured. Notification 

19shall also be sent to the insured's broker, if known, or the 

20agent of record, if known, and to the last known mortgagee or 

21lien holder. For purposes of this Section, the mortgagee or 

22lien holder, insured's broker, or the agent of record may opt 

23to accept notification electronically. However, where 

SB0714 Enrolled- 2 -LRB104 07013 BAB 17050 b

1cancellation is for nonpayment of premium, the notice of 

2cancellation must be mailed at least 10 days before the 

3effective date of the cancellation.

4 b. This Section does not apply if the com