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Illinois Statutes Chapter 215. Insurance § 5/143.21. Cancellation of Fire and Extended Coverage Policy--Grounds

Current as of January 01, 2025 | Updated by Findlaw Staff

§ 143.21. Cancellation of Fire and Extended Coverage Policy--Grounds. After a policy of fire and extended coverage insurance, as defined in paragraph (b) of Section 143.13, has been effective for 60 days, or if such policy is a renewal policy, the company shall not exercise its right to cancel except for one or more of the following reasons:

a. For nonpayment of premium;

b. When a policy was obtained by misrepresentation or fraud; or

c. For any act which measurably increases the risk originally accepted.

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Cite this article: FindLaw.com - Illinois Statutes Chapter 215. Insurance § 5/143.21. Cancellation of Fire and Extended Coverage Policy--Grounds - last updated January 01, 2025 | https://codes.findlaw.com/il/chapter-215-insurance/il-st-sect-215-5-143-21/

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