Illinois SB 2472: INS-CLIMATE RISK DISCLOSURE

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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. 755.15

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

A BILL FOR

SB2472LRB104 11269 BAB 21353 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 143.15 and 143.17 and by adding Article 

6XLVIII as follows:

7 (215 ILCS 5/143.15) (from Ch. 73, par. 755.15)

8 Sec. 143.15. Mailing of cancellation notice. All notices 

9of cancellation of insurance as defi