Public Act . . . . . . . . . 104-0519
Summary
The bill amends the state’s mine subsidence insurance program, directing the fund’s money to come mainly from insurer premiums and investment income, and requiring the fund to set rates using the same factors insurers use. It eliminates deductibles for policies issued after Jan. 1, 2027, expands coverage to include debris removal and landscaping repairs, and establishes independent directors with staggered three‑year terms. The changes affect homeowners, renters, commercial building owners, and insurers that provide mine subsidence coverage in Illinois.
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