Bill Text: IL HB5357 | 2023-2024 | 103rd General Assembly | Introduced
NOTE: There are more recent revisions of this legislation. Read Latest Draft
Bill Title: Reinserts the provisions of the introduced bill, but changes the provisions to apply when issuing or quoting (rather than issuing or marketing) a homeowner's insurance policy.
Spectrum: Moderate Partisan Bill (Democrat 18-2)
Status: (Engrossed) 2024-05-15 - Senate Floor Amendment No. 1 Recommend Do Adopt Insurance; 007-000-000 [HB5357 Detail]
Download: Illinois-2023-HB5357-Introduced.html
Bill Title: Reinserts the provisions of the introduced bill, but changes the provisions to apply when issuing or quoting (rather than issuing or marketing) a homeowner's insurance policy.
Spectrum: Moderate Partisan Bill (Democrat 18-2)
Status: (Engrossed) 2024-05-15 - Senate Floor Amendment No. 1 Recommend Do Adopt Insurance; 007-000-000 [HB5357 Detail]
Download: Illinois-2023-HB5357-Introduced.html
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1 | AN ACT concerning regulation.
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2 | Be it enacted by the People of the State of Illinois, | |||||||||||||||||||
3 | represented in the General Assembly:
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4 | Section 5. The Illinois Insurance Code is amended by | |||||||||||||||||||
5 | adding Section 143.10f as follows:
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6 | (215 ILCS 5/143.10f new) | |||||||||||||||||||
7 | Sec. 143.10f. Homeowner's insurance policy; sewer backup | |||||||||||||||||||
8 | and sump pump overflow. | |||||||||||||||||||
9 | (a) In this Section, "homeowner's insurance policy" means | |||||||||||||||||||
10 | personal multi-peril property insurance policies covering real | |||||||||||||||||||
11 | property used principally for residential purposes or any | |||||||||||||||||||
12 | household or personal property that is usual or incidental to | |||||||||||||||||||
13 | the occupancy of any premises used for residential purposes. | |||||||||||||||||||
14 | (b) When issuing or marketing a homeowner's insurance | |||||||||||||||||||
15 | policy, an insurer shall disclose whether the homeowner's | |||||||||||||||||||
16 | insurance policy covers damage from a sewer backup or overflow | |||||||||||||||||||
17 | from a sump pump. If the homeowner's insurance policy being | |||||||||||||||||||
18 | issued does not cover damage caused by a sewer backup or | |||||||||||||||||||
19 | overflow from a sump pump, the insurer shall offer the insured | |||||||||||||||||||
20 | the opportunity to purchase additional coverage for damage | |||||||||||||||||||
21 | caused by a sewer backup or overflow from a sump pump. The cost | |||||||||||||||||||
22 | of the additional coverage shall be clearly communicated to | |||||||||||||||||||
23 | the insured at the time the opportunity to purchase the |
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