HB3768 establishes an Owner-Controlled Insurance Program in Illinois for public construction projects.
HB3768 amends the Illinois Insurance Code to create an Owner-Controlled Insurance Program. The Department of Insurance can contract with a private broker to provide a single insurance policy covering all contractors on public construction projects. This policy includes general and excess liability, professional liability, builders' risk, contractors' pollution liability, workers' compensation, and cyber liability. The program aims to reduce costs and barriers for small contractors, including minority-owned, women-owned, and businesses owned by persons with disabilities.
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