(a) With respect to homeowner’s insurance policies and renter’s insurance policies issued, renewed, modified, altered, or amended on or after the effective date of this amendatory Act of the 103rd General Assembly, no insurer shall refuse to issue or renew, cancel, charge or impose an increased premium or rate for a policy or contract, or exclude, limit, restrict, or reduce coverage under a policy or contract based solely upon harboring or owning any dog of a specific breed or mixture of breeds.
     (b) Notwithstanding the provisions of subsection (a), an insurer may cancel or refuse to issue or renew any homeowner’s or renter’s insurance policy or impose a reasonably increased premium for such policy based on the determination of an individual dog as a dangerous or vicious dog under the Animal Control Act, as determined by underwriting and actuarial principles reasonably derived from actual loss experience of such insurer with that individual dog and any anticipated loss given such loss exposure.