HB3931 96TH GENERAL ASSEMBLY

LRB096 10360 RPM 20530 b

96TH GENERAL ASSEMBLY
State of Illinois
2009 and 2010
HB3931

Introduced 2/26/2009, by Rep. Karen May

SYNOPSIS AS INTRODUCED:

215 ILCS 5/397.07 new

Amends the Illinois Insurance Code. Provides that if a company authorized to transact the kinds of business related to Class 2 (casualty, fidelity, and surety) or Class 3 (fire and marine) insurance offers a policy of homeowner's insurance that is issued together with a policy of personal property insurance, then such policy must include competitively priced personal property coverage, including coverage options that are less than 80% of the value of the home.

A BILL FOR

AN ACT concerning insurance.

Be it enacted by the People of the State of Illinois, represented in the General Assembly:

Section 5. The Illinois Insurance Code is amended by adding Section 397.07 as follows:

(215 ILCS 5/397.07 new)

Sec. 397.07. Homeowner's and personal property policies. If a company authorized to transact the kinds of business set forth in Class 2 or Class 3 of Section 4 of this Code offers a policy of homeowner's insurance that is issued together with a policy of personal property insurance, then such policy must include competitively priced personal property coverage, including coverage options that are less than 80% of the value of the home.