HB3148 Summary

• Amends the Illinois Insurance Code to add Section 155.47 regarding business interruption insurance coverage.

• Defines "business interruption insurance" as any insurance policy that covers loss of use and occupancy of a business and business interruption.

• Requires all business interruption insurance policies amended, delivered, issued, or renewed in Illinois after the bill's effective date to include coverage for business closures during declared emergencies ordered by federal or state government.

• Coverage must include lost income resulting from forced business closures during declared emergency periods.

• Takes effect immediately upon becoming law.