Sec. 143.21. Cancellation of Fire and Extended Coverage Policy - Grounds.
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/il/chapter-215/act-5/143-21A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Sec. 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.