Illinois Compiled Statutes
215 ILCS 5/803.1 (2026)
Establishment of Fund
✓ current as of May 2026
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(215 ILCS 5/803.1)
Sec. 803.1. Establishment of Fund.
(a) There is established a fund to be known as the "Illinois Mine Subsidence
Insurance Fund". The Fund shall operate pursuant to this Article. The Fund is
authorized to transact business, provide services, enter into contracts and sue
or be sued in its own name.
(b) The Fund shall provide reinsurance for mine subsidence losses to all
insurers writing mine subsidence insurance pursuant to this Article.
(c) The monies in the Fund shall be derived from premiums for mine
subsidence
insurance collected on behalf of the Fund pursuant to this Article, from
investment income and from receipt of Federal or State funds. No insurer shall
have any liability to the Fund or to any creditor of the Fund, except as may be
set forth in this Article, in the Articles of Governance which may be adopted
by the Fund, in a reinsurance agreement executed pursuant to Section 810.1,
in
the Plan of Operation established by the Fund, or in the rules and procedures
adopted by the Fund as authorized by the reinsurance agreement.
(d) The Fund shall establish its rates, rating schedules, deductibles and
retentions, minimum premiums,
classifications, and the maximum amount of reinsurance available per residence, commercial building, and living unit
for mine subsidence insurance which the Fund shall file
with the Director. The Director shall have 30 days from the
date of
receipt to approve or disapprove a rate filing. If no action is taken by the
Director within 30 days, the rate is deemed to be approved. The
Director
may, in writing, extend the period for an additional 30 days if
the
Director
determines that additional time is needed.
(e) The Fund shall establish its rates, rating schedules, deductibles and
retentions, minimum premiums,
classifications, and the maximum amount of reinsurance available per residence, commercial building, and living unit in such a manner as to satisfy all reasonably foreseeable
claims and expenses the Fund is likely to incur. The Fund shall give due
consideration to loss experience and relevant trends, premium and other income
and reasonable reserves established for contingencies in establishing the mine
subsidence rates.
(f) The Fund shall compile and publish an annual operating report.
(g) The Fund shall develop at least 2 consumer information publications to
aid the public in understanding mine subsidence and mine subsidence insurance
and shall establish a schedule for the distribution of the publications
pursuant
to the reinsurance agreement. Topics that shall be addressed shall include but
are not limited to:
(1) Descriptive information about mine subsidence, | and what benefits mine subsidence insurance provides to the property owner. |
(2) Information that will be useful to a policyholder | who has filed a mine subsidence claim, such as information that explains the claim investigation process and claim handling procedures. |
(h) The Fund shall be empowered to conduct research programs in an effort to
improve the administration of the mine subsidence insurance program and help
reduce and mitigate mine subsidence losses consistent with the public
interest.
(i) The Fund may enter into reinsurance agreements with any
intergovernmental cooperative that provides joint self-insurance for mine
subsidence losses of its members. These reinsurance agreements shall be
substantially similar to reinsurance agreements described in Section 810.1.
(Source: P.A. 95-92, eff. 1-1-08; 95-334, eff. 1-1-08.)
Notes of Decisions
Cited in 2
cases (1 in the last 5 years), 2005–2025 · leading case: Illinois Mine Subsidence Ins. Fund v. Peabody Coal Co., 383 F. Supp. 2d 1078 (C.D. Ill. 2005).
Illinois Mine Subsidence Ins. Fund v. Peabody Coal Co., 383 F. Supp. 2d 1078 (C.D. Ill. 2005). “See 215 ILCS 5/803.1(c); 810.1. The Fund alleges that upon notice by a property owner to its insurer of a possible subsidence claim, the insurer then requests that the Fund assist and determine if there is a valid mine subsidence claim.”
Union Pac. R.R. Co. v. Illinois Mine Subsidence Ins. Fund (C.D. Ill. 2025). “8; see also Illinois Mine Subsidence Act (“the Act”), 215 ILCS 5/803.1 et seq. The Act requires Illinois property insurers to provide mine subsidence coverage and the Fund to fully reinsure the coverage subject to a statutory coverage cap and other conditions specified in the…”
— 215 ILCS 5/803.1(c) — 1 case
Illinois Mine Subsidence Ins. Fund v. Peabody Coal Co., 383 F. Supp. 2d 1078 (C.D. Ill. 2005). “See 215 ILCS 5/803.1(c); 810.1. The Fund alleges that upon notice by a property owner to its insurer of a possible subsidence claim, the insurer then requests that the Fund assist and determine if there is a valid mine subsidence claim.”
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