96TH GENERAL ASSEMBLY
State of Illinois
2009 and 2010
HB3931


 
Introduced 2/26/2009, by Rep. Karen May
 
SYNOPSIS AS INTRODUCED:
 		













215 ILCS 5/397.07 new










    Amends the Illinois Insurance Code. Provides that if a company authorized to transact the kinds of business related to Class 2 (casualty, fidelity, and surety) or Class 3 (fire and marine) insurance offers a policy of homeowner's insurance that is issued together with a policy of personal property insurance, then such policy must include competitively priced personal property coverage, including coverage  options that are less than 80% of the value of the home.
















LRB096 10360 RPM 20530 b

















 


 


A BILL FOR









 











HB3931

LRB096 10360 RPM 20530 b






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    AN ACT concerning insurance.

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


 
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    Section 5. The Illinois Insurance Code is amended  by adding 
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Section 397.07 as follows:
 
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    (215 ILCS 5/397.07  new)
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    Sec. 397.07. Homeowner's and personal property policies. 
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If a company authorized to transact the kinds of business set 
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forth in Class 2 or Class 3 of Section 4 of this Code offers a 
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policy of homeowner's insurance that is issued together with a 
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policy of personal property insurance, then such policy must 
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include competitively priced personal property coverage, 
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including coverage  options that are less than 80% of the value 
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of the home.