IL HB1954

Amends the Illinois Insurance Code to modify examination report procedures, requiring examiners to file verified written reports within 60 days of completion and establishing a 30-day period for companies to submit written rebuttals before the Director adopts the report.

Establishes that examination reports must be held confidential for 35 days after adoption before public disclosure, with exceptions allowing the Director to share reports with other insurance departments and law enforcement agencies under confidentiality agreements.

Modifies insurance policy cancellation and non-renewal notice requirements by removing the requirement to notify mortgagees and lienholders in the initial mailing, instead requiring notification to be sent separately and allowing electronic notification options.

Clarifies cancellation notice timing requirements, specifying that non-payment cancellations require 10 days' notice while other cancellations require 30 days' notice, and establishes separate requirements for policies in force less than 60 days versus those in force longer.

Updates non-renewal notice procedures to require 60 days' advance notice for most policies, require specific explanation of nonrenewal reasons, and allow premium increases of up to 30% with proper notice, while requiring automatic renewal if notice deadlines are missed.