Illinois bill lowers reinsurance requirements for farm mutuals
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Illinois bill lowers reinsurance requirements for farm mutuals

Shelby Rosenberg
November 20, 2023
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Illinois State Capitol

Illinois governor J.B. Pritzker signed legislation late on Friday that will lower reinsurance requirements for farm mutuals, a move that could avert a crisis for these small carriers.

The bill known as SB 765 removes a previous requirement passed in 1986 mandating that carriers purchase unlimited catastrophic reinsurance.

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