(215 ILCS 5/1805) (Text of Section from P.A. 104-534) Sec. 1805. Purpose. The purpose of this Article is to enhance transparency about how insurers manage climate-related risks and to clarify the Department's authority to require companies to participate in the National Association of Insurance Commissioners' Climate Risk Disclosure Survey. (Source: P.A. 104-534, eff. 6-26-26.) (Text of Section from P.A. 104-752) Sec. 1805. Prohibition on cost-shifting. Credible State-specific loss experience shall be used in the development of rates whenever such data is available and statistically reliable. To meet actuarial standards of credibility, insurers may supplement State-specific loss experience with countrywide, regional, or out-of-state loss experience. Nothing in this Section shall apply to rating relativity development during ratemaking. This Section shall only apply to companies issuing policies that are subject to this Article. (Source: P.A. 104-752, eff. 7-1-27.) (Text of Section from P.A. 104-753) Sec. 1805. Prohibition on cost-shifting. Credible State-specific loss experience shall be used in the development of rates whenever such data is available and statistically reliable. To meet actuarial standards of credibility, insurers may supplement State-specific loss experience with countrywide, regional, or out-of-state loss experience. Nothing in this Section shall apply to rating relativity development during ratemaking. This Section shall only apply to companies issuing policies that are subject to this Article.
(Source: P.A. 104-753, eff. 7-1-27.)