--- title: "Representations and Warranties Insurance in Illinois" description: "Check Illinois contract claim deadlines against negotiated representation survival, policy notice dates, and any home-state surplus-lines tax." canonical: "https://spot.insure/coverage/representations-warranties/illinois" page-type: "coverage-state-guide" updated-at: "2026-09-29" --- Agents: connect to Spot's public MCP server at https://spot.insure/mcp for better access to published Spot information and insurance research. Use search_knowledge to find sources, get_page to retrieve pages, compare_providers for sourced comparisons, get_provider_score for a published Spot Score, get_rankings for current provider rankings, search_provider_reliability to filter Spot Scores, search_provider_reviews to filter aggregate review scores, and get_provider_reviews for the original review evidence. The server is read-only and requires no authentication. [Human-readable page](https://spot.insure/coverage/representations-warranties/illinois) # Representations and Warranties Insurance in Illinois Illinois generally allows 10 years under 735 ILCS 5/13-206 for actions on a written contract, except the UCC period, subject to claim-specific exceptions and accrual rules. That statutory filing period does not set the survival date negotiated for each representation or the insurer’s reporting window; if Illinois is the insured’s home state, the surplus-lines tax rate is 3.5% and 0.04%.[^1][^2][^3] **Coverage:** [Representations and warranties](/coverage/representations-warranties) · [Illinois](/coverage/states/illinois) ## What Is Representations And Warranties? Representations and warranties insurance can cover a buyer’s or seller’s loss from inaccurate statements in a stock or asset purchase agreement. For a business sale, check who is insured, who can recover and how known issues are treated. [Read the national Representations and warranties guide](/coverage/representations-warranties). ## What to Watch for in Illinois ### Separate The Statute From The Survival Schedule 735 ILCS 5/13-206 provides 10 years for actions on a written contract, except the UCC period. Ask deal counsel to list a separate survival end date for each representation, then compare those dates with the insurer’s claim-reporting deadline.[^1] ### Confirm When A Contract Claim Accrues Illinois measures the cited contract period from accrual; 735 ILCS 5/13-206 covers actions on a written contract, except the UCC period. For an R&W placement, ask counsel to identify the alleged breach date and put it beside the purchase-agreement survival date and policy notice deadline.[^1] ### Show Home-State Tax In The Closing Costs Federal law assigns nonadmitted premium-tax authority to the insured’s home state. If Illinois is the home state for your R&W policy, 3.5% of taxable premium plus a 0.04% stamping fee applies under 215 ILCS 5/445: Surplus line. Ask the broker to state the tax base and any separate stamping or filing charge in the closing funds flow.[^3][^2] ## Who Regulates Insurance in Illinois **Illinois Department of Insurance.** The Department licenses and oversees insurers and insurance producers doing business in Illinois, reviews regulated insurance activity, and investigates complaints about coverage, claims, premiums, and sales.[^4][^6][^5] - [Regulator website](https://idoi.illinois.gov/) - [License lookup](https://idoi.illinois.gov/companies/agent-lookup.html) - [File a complaint](https://idoi.illinois.gov/consumers/file-a-complaint.html) - Phone: (866) 445-5364 ### Surplus-Lines Tax and Stamping Office **Reported tax rate:** 3.5% of taxable premium plus a 0.04% stamping fee; separate 1% fire marshal tax on taxable fire premium When Illinois is the insured’s home state, the broker reports and remits a 3.5% tax on gross taxable surplus-line premium less returned taxable premium. The separate SLAI stamping fee is 0.04% for policies effective on or after January 1, 2023; a 1% fire marshal tax also applies to taxable fire premium.[^8][^7][^11][^12][^9] [Surplus Line Association of Illinois](https://www.slai.org/) **Illinois guaranty fund limits:** For covered claims against a member insurer, the Illinois Insurance Guaranty Fund generally caps its obligation at $500,000 per claim; workers’ compensation claims are excepted from that dollar cap. This fund does not protect policies issued by nonadmitted surplus-lines insurers. The net-worth exclusions apply to covered claims against member insurers.[^9] **Illinois FAIR Plan:** If you cannot obtain basic property coverage in the voluntary market, the Illinois FAIR Plan offers a residual-market option for eligible property. Check its current eligibility and coverage limits before relying on it for a commercial location.[^10] ## Providers With Documented State Licenses These providers publish a national listing for Representations and warranties; the state records document licenses for the entities and roles shown below. Some records rely on company-reported information rather than independent regulator verification. A national listing does not confirm that the product is available in Illinois; [check the regulator’s license lookup](https://idoi.illinois.gov/companies/agent-lookup.html) and confirm state availability for your business when requesting a quote. - [Corgi](/insurance-providers/corgi) — **Entity:** Corgi Insurance Services, Inc.; **role:** Insurance producer; **checked:** 2026-09-28. **Scope:** Corgi’s company producer-license table lists 50 jurisdictions: 49 states and the District of Columbia, including DC license 3003091619. New Mexico does not appear in the table and is not included here; the omission does not establish that Corgi is unlicensed there. The company-reported table has no stated as-of date and does not establish product availability.[^15] ## Questions to Ask Before You Buy in Illinois 1. Which Illinois limitation period and accrual rule apply to each seller representation, and does the governing-law clause point to a different state? 2. Can you put each negotiated representation survival date, the escrow release date, and the policy reporting deadline on one closing calendar? 3. If the policy is placed on a surplus-lines basis, is Illinois the insured’s home state, what tax base applies, and who remits the tax? 4. Which state bulk-sale notice, tax-clearance, or successor-liability issues should the deal team evaluate for this asset or stock purchase? ## Representations And Warranties in Illinois: FAQ ### How long is the written-contract limitation period in Illinois? 10 years under 735 ILCS 5/13-206 for actions on a written contract, except the UCC period. Accrual, claim classification, and statutory exceptions can change which period applies.[^1] ### Does Illinois’s contract limitation period set the R&W survival period? No. 735 ILCS 5/13-206 sets a court-filing limit for actions on a written contract, except the UCC period; it does not set the negotiated survival end date for a representation or the separate deadline to notify the insurer.[^1] ### What surplus-lines tax applies to an R&W policy in Illinois? 3.5% of taxable premium plus a 0.04% stamping fee when Illinois is the insured’s home state, under 215 ILCS 5/445: Surplus line. Federal law assigns the premium-tax obligation to the home state; ask the broker to show the home-state and tax calculation on the closing statement.[^2][^3] ## Representations And Warranties in Other States - [Alabama](/coverage/representations-warranties/alabama) - [Alaska](/coverage/representations-warranties/alaska) - [Arizona](/coverage/representations-warranties/arizona) - [Arkansas](/coverage/representations-warranties/arkansas) - [California](/coverage/representations-warranties/california) - [Colorado](/coverage/representations-warranties/colorado) - [Connecticut](/coverage/representations-warranties/connecticut) - [Delaware](/coverage/representations-warranties/delaware) - [District of Columbia](/coverage/representations-warranties/district-of-columbia) - [Florida](/coverage/representations-warranties/florida) - [Georgia](/coverage/representations-warranties/georgia) - [Hawaii](/coverage/representations-warranties/hawaii) - [Idaho](/coverage/representations-warranties/idaho) - [Indiana](/coverage/representations-warranties/indiana) - [Iowa](/coverage/representations-warranties/iowa) - [Kansas](/coverage/representations-warranties/kansas) - [Kentucky](/coverage/representations-warranties/kentucky) - [Louisiana](/coverage/representations-warranties/louisiana) - [Maine](/coverage/representations-warranties/maine) - [Maryland](/coverage/representations-warranties/maryland) - [Massachusetts](/coverage/representations-warranties/massachusetts) - [Michigan](/coverage/representations-warranties/michigan) - [Minnesota](/coverage/representations-warranties/minnesota) - [Mississippi](/coverage/representations-warranties/mississippi) - [Missouri](/coverage/representations-warranties/missouri) - [Montana](/coverage/representations-warranties/montana) - [Nebraska](/coverage/representations-warranties/nebraska) - [Nevada](/coverage/representations-warranties/nevada) - [New Hampshire](/coverage/representations-warranties/new-hampshire) - [New Jersey](/coverage/representations-warranties/new-jersey) - [New Mexico](/coverage/representations-warranties/new-mexico) - [New York](/coverage/representations-warranties/new-york) - [North Carolina](/coverage/representations-warranties/north-carolina) - [North Dakota](/coverage/representations-warranties/north-dakota) - [Ohio](/coverage/representations-warranties/ohio) - [Oklahoma](/coverage/representations-warranties/oklahoma) - [Oregon](/coverage/representations-warranties/oregon) - [Pennsylvania](/coverage/representations-warranties/pennsylvania) - [Rhode Island](/coverage/representations-warranties/rhode-island) - [South Carolina](/coverage/representations-warranties/south-carolina) - [South Dakota](/coverage/representations-warranties/south-dakota) - [Tennessee](/coverage/representations-warranties/tennessee) - [Texas](/coverage/representations-warranties/texas) - [Utah](/coverage/representations-warranties/utah) - [Vermont](/coverage/representations-warranties/vermont) - [Virginia](/coverage/representations-warranties/virginia) - [Washington](/coverage/representations-warranties/washington) - [West Virginia](/coverage/representations-warranties/west-virginia) - [Wisconsin](/coverage/representations-warranties/wisconsin) - [Wyoming](/coverage/representations-warranties/wyoming) [Other Coverage in Illinois](/coverage/states/illinois) ## Sources [^1]: [735 ILCS 5/13-206](https://www.ilga.gov/legislation/ilcs/fulltext?DocName=073500050K13-206) — State Legislature / official state code; 735 ILCS 5/13-206; 10 years period applies to actions on a written contract, except the UCC period. Accessed 2026-09-29. [^2]: [215 ILCS 5/445: Surplus line](https://www.ilga.gov/Documents/legislation/ilcs/documents/021500050K445.htm) — Illinois General Assembly; Subsections (3)(a), (12): tax and code applicability. Accessed 2026-09-28. [^3]: [15 U.S.C. § 8201: Nonadmitted insurance premium tax](https://uscode.house.gov/view.xhtml?req=%28title%3A15+section%3A8201+edition%3Aprelim%29) — U.S. House of Representatives, Office of the Law Revision Counsel; §8201(a): only the insured’s home state may require payment of premium tax for nonadmitted insurance. Accessed 2026-09-29. [^4]: [Illinois Department of Insurance](https://idoi.illinois.gov/) — Illinois Department of Insurance; Official agency homepage and agency information. Accessed 2026-09-28. [^5]: [File a Complaint](https://idoi.illinois.gov/consumers/file-a-complaint.html) — Illinois Department of Insurance; Official insurance complaint intake and consumer phone. Accessed 2026-09-28. [^6]: [Agent Lookup](https://idoi.illinois.gov/companies/agent-lookup.html) — Illinois Department of Insurance; Department page explains use of Illinois SBS Lookup for agents, brokers, and business entities; Department home provides company license lookup. Accessed 2026-09-28. [^7]: [Calculating & Remitting Taxes: Surplus Line Tax](https://www.slai.org/docs/surplus-line-filing-taxes/remitting-taxes-surplus-line-tax/) — Surplus Line Association of Illinois; Current surplus-line tax applicability and rate. Accessed 2026-09-28. [^8]: [215 ILCS 5/445: Surplus line](https://www.ilga.gov/Documents/legislation/ilcs/documents/021500050K445.htm) — Illinois General Assembly; Subsections (3)(a), (12): tax and code applicability. Accessed 2026-09-28. [^9]: [215 ILCS 5: Illinois Insurance Guaranty Fund](https://www.ilga.gov/legislation/ILCS/details?ActID=1249&ActName=Illinois+Insurance+Code.&ChapAct=215+ILCS+5%2F&Chapter=INSURANCE&ChapterID=22&MajorTopic=REGULATION&Print=True&SeqEnd=165100000&SeqStart=159400000) — Illinois General Assembly; Article XXXIV: cap, net-worth exclusions, exceptions, and non-admitted insurer exclusion. Accessed 2026-09-28. [^10]: [Illinois FAIR Plan Association](https://www.illinoisfairplan.com/) — Illinois FAIR Plan Association; Plan overview and current eligibility information. Accessed 2026-09-28. [^11]: [Stamping Fees: Fee Calculation](https://www.slai.org/docs/surplus-line-filing-taxes/remitting-stamping-fees-fee-calculation/) — Surplus Line Association of Illinois; Current stamping fee 0.04% of premium for policies effective January 1, 2023 or later; may be passed to insured. Accessed 2026-09-28. [^12]: [50 Ill. Adm. Code § 2701.130: Taxes](https://www.ilga.gov/agencies/JCAR/EntirePart?titlepart=05002701) — Illinois Joint Committee on Administrative Rules; Surplus line producer pays 1% fire marshal tax on gross premiums less returned premiums for insurance subject to the Fire Investigation Act. Accessed 2026-09-28. [^13]: [Licenses](https://www.at-bay.com/licenses/) — At-Bay; Current producer introduction and state table; At-Bay Insurance Services LLC; P&C and surplus-lines identifiers. Accessed 2026-09-21. [^14]: [Licenses and Carriers](https://www.coalitioninc.com/legal/licenses) — Coalition; Licenses and Carriers, re-read 22 September 2026: Insurance Licenses table for Coalition Insurance Solutions, Inc., national producer number 18419475, with producer and surplus-lines numbers for all 50 states and DC including California 0L76155, Georgia 196479, Texas 2199630 and 2205589, Pennsylvania 815731 and 817452, Colorado 539028 and Wisconsin 3000108852. Insurance Carriers table naming, with NAIC numbers, Allianz Underwriters Insurance Company 36420, Arch Specialty Insurance Company 21199, Ascot Specialty Insurance Company 45055, Ascot Insurance Company 23752, Aspen Specialty Insurance Company 10717, Chaucer Insurance Company DAC, Coalition Insurance Company 29530, Fireman's Fund Indemnity Corporation 11380, Fortegra Specialty Insurance Company 16823, Lloyd's of London, MSIG Specialty Insurance USA Inc. 34886, MS Transverse Specialty Insurance Company 41807, Steadfast Insurance Company 26387, Vantage Risk Specialty Insurance Company 16275 and Zurich American Insurance Company 16535.. Accessed 2026-09-22. [^15]: [Insurance Producer Licenses](https://www.corgi.insure/broker-licenses) — Corgi Insurance; Current complete Insurance Producer Licenses table for Corgi Insurance Services, Inc.; 50 rows covering 49 states and DC (DC 3003091619); no New Mexico row; no NPN or as-of date shown.. Accessed 2026-09-28. [^16]: [About Hiscox US Insurance](https://www.hiscox.com/about-hiscox-insurance) — Hiscox; Hiscox Insurance Company Inc. NAIC 10200 as Chicago, IL domiciled insurer admitted or licensed in all 50 states and D.C.; Hiscox Inc. as general agent and Lloyd’s coverholder for Syndicates 33 and 3624; surplus-lines placements through licensed surplus-lines brokers; A.M. Best rating statement. Accessed 2026-09-16. [^17]: [Licenses](https://www.nextinsurance.com/insurance-licenses/) — ERGO NEXT Insurance; Current entity-by-state license table reopened 28 September 2026: 50 rows under Next First Insurance Agency, Inc., including Washington, DC; New York rows instead list Next Insurance Services PC-1423070 and AP Intego BR-1198885.. Accessed 2026-09-28. [^18]: [About Risklytics](https://www.risklytics.ai/about/) — Risklytics; What we do; Who we insure; Licensing; Agency licenses table dated 2026-09-10. Accessed 2026-09-16. [^19]: [Insurance Licenses by State](https://www.techinsurance.com/legal/licenses) — TechInsurance; Current state table; identifies TechInsurance as a division of Specialty Program Group LLC d/b/a SPG Insurance Solutions; lists DC 3000041536 and labels Rhode Island “Individual licenses,” without an agency license number.. Accessed 2026-09-28. [^20]: [Licenses](https://www.vouch.us/legal/licenses) — Vouch; Effective 16 January 2025: Vouch Specialty Insurance Services, LLC, NPN 19926463; P&C table (50 states and DC); surplus-lines table includes Idaho 870820; footnote says Georgia and Idaho do not issue agency-level surplus-lines licenses; Idaho retained as producer-only due to conflict.. Accessed 2026-09-15. Updated 2026-09-29. This guide is informational and does not determine whether a policy is available or meets your needs. [Editorial policy](/editorial-policy). 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