state_legiscan_drain · IL
MINE SUBSIDENCE INSURANCE FUND
February 6, 2026
Summary
If enacted, this bill would amend the Mine Subsidence Insurance Article of the Illinois Insurance Code, modifying definitions, fund management, premium rate setting, and coverage provisions for mine subsidence insurance. It would eliminate deductibles for mine subsidence damage for policies issued or renewed after January 1, 2027, and allow the Fund and Director to set maximum reinsured loss amounts. The bill also establishes staggered 3-year terms for directors and imposes independence and fiduciary duties.
AI-generated summary · Jun 14, 2026. Verify with your compliance counsel before acting.
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Source: https://www.ilga.gov/Legislation/BillStatus?DocNum=5376&GAID=18&DocTypeID=HB&SessionID=114&GA=104
Common questions
- What does "MINE SUBSIDENCE INSURANCE FUND" cover?
- If enacted, this bill would amend the Mine Subsidence Insurance Article of the Illinois Insurance Code, modifying definitions, fund management, premium…
- When was it published?
- It was published on February 6, 2026.