CHICAGO, Ill. — Governor J.B Pritzker Monday called out to insurance companies to expedite claims and payments for Illinois businesses who experienced looting, vandalism, and property damages.
“Insurance companies must do everything in their power and are obligated to give their customers the funds they need to rebuild,” Pritzker said.
The expectations have been laid out to Illinois insurers which includes expediting claims and providing advanced payments.
“That means that to the extent, a policy includes business interruption support payments. Those dollar amounts should be based on business activity levels prior to the impacts of COVID-19,” Pritzker said.
The governor said the Illinois Department of Insurance expects insurers to implement a suspension on the cancellation or non-renewal of impacted policy holders for 60 days.
“In short, insurers must do the right thing, and do it fast. With all consideration to assisting business owners to get back up on their feet and reopen,” Pritzker said.
The IDOI will be monitoring for reports for insurance companies not upholding their policies.
“Or, standing in the way of our businesses communities rebuilding,” Pritzker said.
Pritzker encourages business owners to file a complaint to the IDOI if they feel like their insurance company is not honoring the terms of their coverage.
