Illinois § 40

§ 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. (Source: P.A. 102-497, eff. 1-1-22.)