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| | HB5559 Engrossed | | LRB103 39018 RPS 69155 b |
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| 1 | | AN ACT concerning regulation.
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| 2 | | Be it enacted by the People of the State of Illinois, |
| 3 | | represented in the General Assembly:
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| 4 | | Section 5. The Illinois Insurance Code is amended by |
| 5 | | adding Section 154.10 as follows:
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| 6 | | (215 ILCS 5/154.10 new) |
| 7 | | Sec. 154.10. Description of the determination of a total |
| 8 | | loss of a vehicle. Upon the determination of a total loss of an |
| 9 | | insured vehicle, the insurance company shall provide the |
| 10 | | insured with a brief description of how that determination was |
| 11 | | made, including any available repair estimate, estimated |
| 12 | | vehicle salvage value, assessed market value, and other costs |
| 13 | | and calculations used. This Section applies to policies issued |
| 14 | | or renewed on or after July 1, 2025. |