Current through Public Act 103-1052
Section 815 ILCS 312/40 - Insurable interest(a) Notwithstanding any other law, statute, rule, or regulation to the contrary, a car-sharing program shall have an insurable interest in a shared vehicle during the car-sharing period and may provide or offer to provide coverage to a shared-vehicle owner or a shared-vehicle driver under the policy of insurance described in subsection (c).(b) Nothing in this Section shall be construed as modifying the obligations of the car-sharing program pursuant to Section 10.(c) A car-sharing program may own and maintain, as the named insured, one or more policies of motor vehicle liability insurance that separately or in combination provides coverage for:(1) liabilities assumed by the car-sharing program under a car-sharing agreement;(2) any liability of the shared-vehicle owner;(3) damage or loss to the shared vehicle; or(4) any liability of the shared-vehicle driver.Added by P.A. 102-0497,§ 40, eff. 1/1/2022.