093_SB1517

 
                                     LRB093 07442 JLS 07606 b

 1        AN ACT in relation to insurance.

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

 4        Section 5.  The Illinois Insurance  Code  is  amended  by
 5    changing Section 143.15 as follows:

 6        (215 ILCS 5/143.15) (from Ch. 73, par. 755.15)
 7        Sec.  143.15.  Mailing  of cancellation notice.  A notice
 8    All notices  of  cancellation  of  insurance  as  defined  in
 9    subsections (a), (b) and (c) of Section 143.13 must be mailed
10    at  least 30 days prior to the effective date of cancellation
11    to the named insured and mortgagee or lien holder, if  known,
12    at  the  last  mailing  address  known  to  the company.  All
13    notices of cancellation shall include a specific  explanation
14    of  the  reason  or reasons for cancellation.  However, where
15    cancellation is for nonpayment  of  premium,  the  notice  of
16    cancellation  must   be  mailed  at  least 10 days before the
17    effective date of the cancellation.
18    (Source: P.A. 89-669, eff. 1-1-97.)