(815 ILCS 312/40)

Sec. 40. Insurable interest.

(a) Notwithstanding any other law, statute, rule, or regulation to the contrary, a car-sharing program shall have an insurable interest in a shared vehicle during the car-sharing period and may provide or offer to provide coverage to a shared-vehicle owner or a shared-vehicle driver under the policy of insurance described in subsection (c).

(b) Nothing in this Section shall be construed as modifying the obligations of the car-sharing program pursuant to Section 10.

(c) A car-sharing program may own and maintain, as the named insured, one or more policies of motor vehicle liability insurance that separately or in combination provides coverage for:

(1) liabilities assumed by the car-sharing program under a car-sharing agreement;

(2) any liability of the shared-vehicle owner;

(3) damage or loss to the shared vehicle; or

(4) any liability of the shared-vehicle driver.

(Source: P.A. 102-497, eff. 1-1-22.)