Division 152 - Municipal Insurance Availability Program - Illinois Statutes

      (65 ILCS 5/Art. 11 Div. 152 heading)DIVISION 152. MUNICIPAL INSURANCE AVAILABILITY PROGRAM

(65 ILCS 5/11‑152‑1) (from Ch. 24, par. 11‑152‑1)     Sec. 11‑152‑1. (a) The corporate authorities of any municipality over 1,000,000 in population may establish a municipal insurance availability program to make available to the residents of such municipality, who are otherwise unable to obtain such insurance at affordable rates, insurance against damage or loss, including the costs of diagnosis or repair, where the proximate cause of such damage or loss is attributable to the breakage or stoppage of a water or sewage drainage system or pipes, apparatus and conduits utilized in connection therewith.     (b) The corporate authorities shall establish uniform eligibility requirements for participation in the program.     (c) The corporate authorities shall appoint a program administrator to operate the program. (Source: P.A. 84‑1431.)

(65 ILCS 5/11‑152‑2) (from Ch. 24, par. 11‑152‑2)     Sec. 11‑152‑2. (a) The municipal insurance availability program shall offer to each eligible resident coverage in the amount and type determined to be sufficient by the program administrator.     (b) Premiums charged for coverage issued under the program shall be reasonable in relation to the coverage provided.     (c) The program administrator shall establish a premium billing procedure for collection of premiums from insureds on a periodic basis.     (d) The program administrator shall perform all necessary functions to assure timely payment of claims under the program. (Source: P.A. 84‑1431.)

(65 ILCS 5/11‑152‑3) (from Ch. 24, par. 11‑152‑3)     Sec. 11‑152‑3. Revenues received under the municipal insurance availability program shall be used to pay the costs of the program and to maintain and service the municipality's water and sewage drainage system. (Source: P.A. 84‑1431.)

(65 ILCS 5/11‑152‑4) (from Ch. 24, par. 11‑152‑4)     Sec. 11‑152‑4. Municipal insurance availability programs organized under this Division 152 of Article 11 of the Illinois Municipal Code shall be subject to all applicable provisions of the Illinois Insurance Code. (Source: P.A. 84‑1431.)