IL HB2422

Authorizes the Illinois Department of Insurance to contract with a private insurance broker to establish an Owner-Controlled Insurance Program (OCIP) for state construction projects, with contracts limited to 5 years in duration

Provides coverage for construction contractors at all tiers including general and excess liability, professional liability, builders' risk, contractors' pollution liability, workers' compensation, and cyber liability

Applies to projects by the Capital Development Board, Illinois Department of Transportation, Illinois Toll Highway Authority, Central Management Services, public institutions of higher education, and other state agencies with construction authority

Aims to reduce barriers for small contractors, minority-owned businesses, women-owned businesses, and businesses owned by persons with disabilities who struggle to obtain affordable insurance that meets public project requirements

Requires the Department to comply with the Illinois Procurement Code when procuring OCIP contracts