INS CD - FLOOD INSURANCE

Amends the Illinois Insurance Code. Provides that beginning on the effective date of the amendatory Act, every policy for personal multiperil property coverage, commonly known as homeowners insurance, issued or renewed insuring a residence located within a community in this State that participates in the National Flood Insurance Program shall include, at a separately stated premium, flood insurance unless waived in writing by the insured. Provides that if the insured has previously waived flood insurance in writing, then the insurer or agent need not offer flood insurance in any renewal or supplementary policy in connection with a policy previously issued to the insured by the same insurer unless the insured subsequently makes a written request for flood insurance.