Illinois Compiled Statutes 215 ILCS 5/143.21.1 – After a policy of fire and extended coverage, as defined in Section …
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After a policy of fire and extended coverage, as defined in Section 143.13, has been effective or renewed for 5 or more years, the company shall not exercise its right of non-renewal unless:
1. The policy was obtained by misrepresentation or fraud; or
2. The risk originally accepted has measurably increased; or
3. The insured has received 60 days notice of the intention of the company not to renew as provided in Section 143.17.
1. The policy was obtained by misrepresentation or fraud; or
Terms Used In Illinois Compiled Statutes 215 ILCS 5/143.21.1
- Fraud: Intentional deception resulting in injury to another.
2. The risk originally accepted has measurably increased; or
3. The insured has received 60 days notice of the intention of the company not to renew as provided in Section 143.17.