IL HB3768

Authorizes the Illinois Department of Insurance to contract with a private insurance broker to establish an Owner-Controlled Insurance Program (OCIP), which provides a single insurance policy covering the state and all contractors at every level for construction projects

Covers six types of insurance for construction contractors: general and excess liability, professional liability, builders' risk, contractors' pollution liability, workers' compensation, and cyber liability

Applies to construction agencies including the Capital Development Board, Illinois Department of Transportation, Illinois Toll Highway Authority, Central Management Services, and public institutions of higher education

Limits contracts between the Department and insurance brokers to a maximum of 5 years and requires compliance with the Illinois Procurement Code

Aims to reduce insurance barriers for small contractors, minority-owned businesses, women-owned businesses, and businesses owned by persons with disabilities who struggle to find affordable coverage for public construction projects