For certain commercial policies subject to Illinois Insurance Code Section 143.17a, an insurer renewing coverage with:
30% or greater premium increase
or with material changes to:
- Deductibles
- Coverage
must generally provide written notice at least 60 days before renewal.
Not every commercial policy falls under exactly the same statutory category, so the actual policy and notice should be reviewed.
Read more:Illinois Insurance Code — Policy Renewal & Nonrenewal Provisions