HB3148 102ND GENERAL ASSEMBLY

LRB102 11010 BMS 16342 b

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.

A BILL FOR

AN ACT concerning regulation.

Be it enacted by the People of the State of Illinois, represented in the General Assembly:

Section 5. The Illinois Insurance Code is amended by adding Section 155.47 as follows:

(215 ILCS 5/155.47 new)

Sec. 155.47. Business interruption insurance.

(a) As used in this Section, "business interruption insurance" means every policy of insurance insuring against loss due to loss of use and occupancy of a business and business interruption.

(b) An insurance policy amended, delivered, issued, or renewed in this State after the effective date of this amendatory Act of the 102nd General Assembly 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.

Section 99. Effective date. This Act takes effect upon becoming law.