MINE SUBSIDENCE INSURANCE FUND Senate SponsorsSen. Christopher Belt 3/12/2026SenatePlaced on Calendar Order of 3rd Reading March 24, 2026 215 ILCS 5/801.1215 ILCS 5/802.1215 ILCS 5/803.1215 ILCS 5/804.1215 ILCS 5/805.1215 ILCS 5/806.1215 ILCS 5/807.1215 ILCS 5/808.1215 ILCS 5/809.1215 ILCS 5/810.1215 ILCS 5/811.1215 ILCS 5/813.1215 ILCS 5/814.1215 ILCS 5/815.1215 ILCS 5/817.1Amends 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 premium rates, provides that the Fund shall give due consideration to factors reasonably considered by an insurer when setting premium rates and to the fact that the Fund does not receive taxpayer funding or have the ability to issue assessments to the insurance industry to support its long-term financial viability. Changes terms related to the appointment of directors in provisions concerning management of the Fund and establishes 3-year staggered terms for the directors. Provides that all directors shall be independent and owe a duty of care and duty of loyalty to the Fund. In provisions concerning mine subsidence coverage, 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 policy. For all policies issued or renewed on or after January 1, 2027, provides that there shall be no deductible or retention applicable to mine subsidence damage. For all policies issued or renewed on or after the effective date of the amendatory Act, provides that the maximum amount of reinsured loss per residence, per commercial building, and per living unit shall be the amounts established by the Fund and approved by the Director. Provides that the residential and living unit coverage provided under the Article may also cover specified costs of debris removal, moving and storage of contents, and repair or replacement of landscaping. Makes changes in provisions concerning division of the Fund; exemptions; rights of insurers to refuse to provide mine subsidence coverage; arbitration; reinsurance agreements; distribution of premiums; reporting requirements; right of recourse and setoffs; subrogation; and powers of the Director of Insurance.Senate Committee Amendment No. 1 Removes provision requiring the Mine Subsidence Insurance Fund to give due consideration to the fact that it does not receive taxpayer funding or have the ability to issue assessments to the insurance industry to support its long-term financial viability. In provisions concerning previous waivers of mine subsidence insurance by the insured, requires the insurer to provide written notice (instead of the insurer or agent).Senate Committee Amendment No. 2 Deletes reference to:215 ILCS 5/809.1215 ILCS 5/814.1Removes provisions requiring all directors to be independent and owe a duty of care and duty of loyalty to the Illinois Mine Subsidence Insurance Fund and provisions concerning arbitration and setoff clauses. Makes other changes. 2/2/2026SenateFiled with Secretary by Sen. Christopher Belt 2/2/2026SenateFirst Reading 2/2/2026SenateReferred to Assignments 2/10/2026SenateAssigned to Insurance 2/17/2026SenateSenate Committee Amendment No. 1 Filed with Secretary by Sen. Christopher Belt 2/17/2026SenateSenate Committee Amendment No. 1 Referred to Assignments 2/24/2026SenateSenate Committee Amendment No. 1 Assignments Refers to Insurance 3/5/2026SenateSenate Committee Amendment No. 2 Filed with Secretary by Sen. Christopher Belt 3/5/2026SenateSenate Committee Amendment No. 2 Referred to Assignments 3/10/2026SenateSenate Committee Amendment No. 2 Assignments Refers to Insurance 3/10/2026SenateSenate Committee Amendment No. 1 Adopted 3/10/2026SenateSenate Committee Amendment No. 2 Adopted 3/11/2026SenateDo Pass as Amended Insurance; 010-000-000 3/11/2026SenatePlaced on Calendar Order of 2nd Reading March 12, 2026 3/12/2026SenateSecond Reading 3/12/2026SenatePlaced on Calendar Order of 3rd Reading March 24, 2026