215 ILCS 5/143.13
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article IX - Provisions Applicable To All Companies

 (from Ch. 73, par. 755.13)Sec. 143.13.     Definition of terms used in Sections 143.11 through 143.24.(a) "Policy of automobile insurance" means a policy delivered or  issued for delivery in this State, insuring a natural person as named  insured or one or more related individuals resident of the same  household and under which the insured vehicles therein designated are  motor vehicles of the private passenger, station wagon, or any other  4-wheeled motor vehicle with a load capacity of  1500 pounds or less which is not used in  the occupation, profession or  business of the insured or not used as a public or livery conveyance for  passengers nor rented to others.  Policy of automobile insurance shall also  mean a named non-owner's automobile policy.Policy of automobile insurance does not apply to policies of  automobile insurance issued under the Illinois Automobile Insurance  Plan, to any policy covering garages, automobile sales agencies, repair  shops, service stations or public parking place operation hazards.  "Policy  of automobile insurance" does not include a policy, binder, or  application for  which the applicant gives or has given for the initial premium a check or  credit card charge that is subsequently dishonored for payment, unless the  check or credit card charge was dishonored through no fault of the payor.(b) "Policy of fire and extended coverage insurance" means a policy  delivered or issued for delivery in this State, that includes but is not  limited to, the perils of fire and extended coverage, and covers real  property used principally for residential purposes up to and including a 4  family dwelling or any household or personal property that is usual or  incidental to the occupancy to any premises used for residential purposes.(c) "All other policies of personal lines" means any other policy of  insurance issued to a natural person for personal or family protection.(d) "Renewal" or "to renew" means  (1) any change to an entire  line of business in accordance with subsection b-5 of Section 143.17 and  (2)  the issuance and delivery by an  insurer of a policy superseding at the end of the policy period a policy  previously issued and delivered by the same insurer or the issuance and  delivery of a certificate or notice extending the term of a policy  beyond its policy period or term; however, any successive policies  issued by the same insurer to the same insured, for the same or similar  coverage, shall be considered a renewal policy.Any policy with a policy period or term of less than 6 months or any  policy with no fixed expiration date shall be considered as if written  for successive policy periods or terms of 6 months for the purpose of  "renewal" or "to renew" as defined in this paragraph (d) and for the purpose  of any non-renewal notice required by Section 143.17 of this Code.(e) "Nonpayment of premium" means failure of the named insured to  discharge, when due, any of his obligations in connection with the  payment of premiums or any installment of such premium that is payable  directly to the insurer or to its agent. Premium shall mean the premium  that is due for an individual policy which shall not include any membership  dues or other consideration required to be a member of any organization in  order to be eligible for such  policy.  The term  "nonpayment of premium" does not include a check, credit card  charge, or money order that an applicant gives or has given to any person for  the  initial premium payment for a policy, binder, or application  and that is subsequently dishonored for payment, and any policy,  binder, or application in connection therewith is void and of no effect and not  subject to the cancellation provisions of this Code.(f) "A policy delivered or issued for delivery in this State" shall  include but not be limited to all binders of insurance, whether written  or oral, and all applications bound for future delivery by a duly  licensed resident agent.  A written binder of insurance issued for a term  of 60 days or less, which contains on its face a specific inception and  expiration date and which a copy has been furnished to the insured, shall  not be subject to the non-renewal requirements of Section 143.17 of this  Code.(g) "Cancellation" or "cancelled" means the termination  of a policy by an insurer prior to the expiration date of the policy.  A  policy of automobile or fire and extended coverage insurance which expires  by its own terms on the policy expiration date unless advance premiums are  received by the insurer for succeeding policy periods shall not be considered  "cancelled" or a "cancellation" effected by the insurer in the event such  premiums are not paid on or before the policy expiration date.(h) "Commercial excess and umbrella liability policy" means a policy  written over one or more underlying policies for an insured:(1) that has at least 25 full-time employees at the     time the commercial excess and umbrella liability policy is written and procures the insurance of any risk or risks, other than life, accident and health, and annuity contracts, as described in clauses (a) and (b) of Class 1 of Section 4 and clause (a) of Class 2 of Section 4, by use of the services of a full-time employee acting as an insurance manager or buyer; or(2) whose aggregate annual premiums for all property     and casualty insurance on all risks is at least $50,000.    (Source: P.A. 91-552, eff. 8-14-99; 91-597, eff. 1-1-00; 92-16, eff. 6-28-01.)