Bill Status of SB2472  104th General Assembly

Short Description:  INS-CLIMATE RISK DISCLOSURE

Senate Sponsors
Sen. Laura Ellman

Last Action
DateChamber Action
  2/7/2025SenateReferred to Assignments

Statutes Amended In Order of Appearance
215 ILCS 5/143.15from Ch. 73, par. 755.15
215 ILCS 5/143.17from 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


Synopsis As Introduced
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.

Actions 
DateChamber Action
  2/7/2025SenateFiled with Secretary by Sen. Laura Ellman
  2/7/2025SenateFirst Reading
  2/7/2025SenateReferred to Assignments