HB5529 establishes the Strengthen Illinois Homes Program to mitigate property damage from wind and hail and the Climate Risk Disclosure Law to.
HB5529 creates the Strengthen Illinois Homes Program, administered by the Department of Insurance, to provide grants to property owners in high-risk areas for catastrophic wind and hail events. The grants assist in retrofitting properties to meet specified mitigation standards, with a maximum grant of $15,000. The program prioritizes applications from areas with higher susceptibility to such events and higher insurance premiums. The Climate Risk Disclosure Law requires insurers to participate in climate surveys issued by the National Association of Insurance Commissioners.
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- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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