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HB 4552

INS-FAIR PLAN ASSOCIATION

104th Regular Session Introduced by Bob Morgan

HB 4552 modifies Illinois FAIR Plan Association operations, affecting insurance availability and costs for high-risk properties unable to obtain standard market coverage.

Filed with the Clerk by Rep. Bob Morgan
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Bill Summary · HB 4552

Legislative bill overview

HB 4552 addresses the Illinois FAIR Plan Association, which is the state's insurer of last resort for property insurance. The bill modifies how this association operates, likely adjusting its structure, funding mechanisms, or authority to write insurance policies for properties that cannot obtain coverage in the standard insurance market.

Why is this important

Illinois residents in high-risk areas or with difficult-to-insure properties often rely on the FAIR Plan when private insurers decline coverage. Changes to this program directly affect insurance availability and affordability for vulnerable populations, particularly in urban areas with aging housing stock or properties in disaster-prone regions.

Potential points of contention

  • Cost burden: Modifications to FAIR Plan funding could shift losses to surviving insurance companies or policyholders through assessments, raising premiums statewide
  • Market incentives: Expanding or restricting FAIR Plan access might discourage private insurers from serving the market or inadvertently push more people into the system
  • Scope of coverage: Changes to what properties qualify or what risks are covered could leave some Illinoisans with inadequate or no insurance options

Compiled from official sources — confirm details with the bill’s official record.

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