SB2910 amends the Illinois Insurance Code to restructure the Illinois FAIR Plan Association, ensuring equitable distribution of basic property.
SB2910 amends the Illinois Insurance Code to restructure the Illinois FAIR Plan Association, commonly known as the FAIR Plan, to ensure equitable distribution of basic property insurance. The bill changes the title of the Urban Property Insurance Article to the Availability of Property Insurance Article. It mandates that all admitted insurers writing basic property insurance in Illinois join the FAIR Plan Association. The Association is managed by a governing committee, consisting of insurers and public members appointed by the Director of Insurance.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
See what it does, who it affects, and the critical issues in plain language. Free, 30 seconds.