IL SB2910

Renames the "Urban Property Insurance Article" of the Illinois Insurance Code to the "Availability of Property Insurance Article" and restructures the Industry Placement Facility into the Illinois FAIR Plan Association

Requires all admitted insurers writing basic property insurance in Illinois, including excess and surplus insurers (starting January 1, 2027), to be members of the Association, excluding farm mutual companies

Establishes an 11-member governing committee with 3-year staggered terms: 6 elected insurer representatives, 4 public members appointed by the Director of Insurance to represent consumers, and 1 Illinois-licensed insurance producer appointed by the Director

Expands eligibility for FAIR Plan coverage statewide (removing "urban area" limitation) and requires residential property applicants to demonstrate only one unsuccessful attempt to obtain insurance in the standard market, while nonresidential applicants must show three unsuccessful attempts

Mandates that insurers include their proportionate share of the Association's deficit or surplus in ratemaking submissions and requires all applications be submitted through Illinois-licensed agents registered with the Association