Amends the Mine Subsidence Insurance Article of the Illinois Insurance Code.
Amends the Mine Subsidence Insurance Article of the Illinois Insurance Code. Makes changes to defined terms. Provides that the moneys in the Illinois Mine Subsidence Insurance Fund shall be derived primarily from premiums for mine subsidence insurance ceded by insurers to the Fund pursuant to the Article and from investment income. In establishing mine subsidence insurance for a commercial building, provides that the loss covered shall be the loss in excess of any applicable deductible or retention in the policy, subject to the limit of insurance for mine subsidence damage stated in the.
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