Comments: IL HB5512 | 2023-2024 | 103rd General Assembly
Bill Title: Amends the Illinois Insurance Code. Sets forth findings and definitions. Provides that the Department of Insurance is authorized to enter into a contract with a private insurance broker to establish an Owner-Controlled Insurance Program. Provides that the Owner-Controlled Insurance Program shall provide specified forms of insurance, if applicable, to construction contractors for the purpose of satisfying requirements to contract with a construction agency. Requires the Department to comply with the Illinois Procurement Code when procuring a contract for an Owner-Controlled Insurance Program. Provides that a contract between the Department and an insurance broker for the provision of an Owner-Controlled Insurance Program shall not exceed 5 years in duration. Provides that all tiers of construction contractors shall be eligible to obtain any form of insurance required to contract with a construction agency for the purposes of satisfying the insurance obligations necessary to execute a construction contract for a construction agency. Effective immediately.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced) 2024-02-09 - Referred to Rules Committee [HB5512 Detail]
Text: Latest bill text (Introduced) [HTML]
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced) 2024-02-09 - Referred to Rules Committee [HB5512 Detail]
Text: Latest bill text (Introduced) [HTML]
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