SB2910 amends the Illinois Insurance Code to establish the Illinois FAIR Plan Association for basic property insurance.
SB2910 amends the Illinois Insurance Code to create the Illinois FAIR Plan Association, an organization of insurers to provide basic property insurance. The bill outlines the Association's purpose, membership, governance, and operations. It requires all insurers writing basic property insurance in Illinois to join the Association. The Association is managed by a governing committee, including public members and an insurance producer. The Director of Insurance approves the Association's articles of association and plan of operation.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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