102ND GENERAL ASSEMBLY
State of Illinois
2021 and 2022
HB3148

 

Introduced 2/19/2021, by Rep. Dave Vella

 

SYNOPSIS AS INTRODUCED:
 
215 ILCS 5/155.47 new

    Amends the Illinois Insurance Code to provide that an insurance policy amended, delivered, issued, or renewed in the State after the effective date of the amendatory Act that offers business interruption insurance shall be construed to include, among the covered perils of that policy, coverage for loss of use and occupancy of a business and business interruption, including lost income, resulting from a forced closure of businesses during a period of a declared emergency by law or order of a federal or State government or governmental officer or agency. Defines "business interruption insurance". Effective immediately.


LRB102 11010 BMS 16342 b

 

 

A BILL FOR

 

HB3148LRB102 11010 BMS 16342 b

1    AN ACT concerning regulation.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 5. The Illinois Insurance Code is amended by
5adding Section 155.47 as follows:
 
6    (215 ILCS 5/155.47 new)
7    Sec. 155.47. Business interruption insurance.
8    (a) As used in this Section, "business interruption
9insurance" means every policy of insurance insuring against
10loss due to loss of use and occupancy of a business and
11business interruption.
12    (b) An insurance policy amended, delivered, issued, or
13renewed in this State after the effective date of this
14amendatory Act of the 102nd General Assembly that offers
15business interruption insurance shall be construed to include,
16among the covered perils of that policy, coverage for loss of
17use and occupancy of a business and business interruption,
18including lost income, resulting from a forced closure of
19businesses during a period of a declared emergency by law or
20order of a federal or State government or governmental officer
21or agency.
 
22    Section 99. Effective date. This Act takes effect upon

 

 

HB3148- 2 -LRB102 11010 BMS 16342 b

1becoming law.