HB5559 EnrolledLRB103 39018 RPS 69155 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
5adding Section 154.10 as follows:
 
6    (215 ILCS 5/154.10 new)
7    Sec. 154.10. Description of the determination of a total
8loss of a vehicle. Upon the determination of a total loss of an
9insured vehicle, the insurance company shall provide the
10insured with a brief description of how that determination was
11made, including any available repair estimate, estimated
12vehicle salvage value, assessed market value, and other costs
13and calculations used. This Section applies to policies issued
14or renewed on or after July 1, 2025.