Illinois HB3799 mandates climate risk disclosure for insurers and modifies cancellation notice requirements.
HB3799 introduces the Climate Risk Disclosure Law in Illinois, requiring insurers licensed under Classes 2 and 3, writing $100 million or more annually in premiums, to participate in climate surveys issued by the Department of Insurance and the National Association of Insurance Commissioners. The bill also revises cancellation notice requirements, mandating that insurers provide at least 30 days' notice before canceling a policy, with specific provisions for nonpayment of premium. The law aims to enhance transparency in how insurers manage climate-related risks.
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- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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