SB0268 - 104th General Assembly (2025-2026)
INSURANCE RATE FAIRNESS
Last Action
6/02/2025 - Senate: Rule 3-9(a) / Re-referred to Assignments
Statutes Amended In Order of Appearance
Synopsis As Introduced
Creates the Insurance Fairness and Consumer Protection Law Article of the Illinois Insurance Code. Provides that insurers must submit a request for approval to the Department of Insurance for any proposed rate increase for homeowners insurance premiums or automobile insurance premiums. Prohibits implementing any rate increase without prior written approval of the Department. Prohibits using nondriving factors, such as credit score, occupation, and education level, to determine automobile insurance premiums. Provides that, for homeowners insurance, factors unrelated to the insured property's location, age, and condition shall not be considered in rate setting. Requires a public disclosure and comment period for any proposed rate increase exceeding 10% in a 12-month period. Prohibits an insurer from increasing premiums by more than 15% per year for any policyholder without exceptional justification, which must include specified evidence. Sets forth provisions concerning definitions; penalties; reimbursement of consumers; market conduct actions; Department approval of rate increases; and rulemaking. Effective immediately.
Actions
| Date | Chamber | Action |
|---|---|---|
| 1/24/2025 | Senate | Filed with Secretary by Sen. Michael E. Hastings |
| 1/24/2025 | Senate | First Reading |
| 1/24/2025 | Senate | Referred to Assignments |
| 1/29/2025 | Senate | Added as Chief Co-Sponsor Sen. Mike Porfirio |
| 1/29/2025 | Senate | Added as Chief Co-Sponsor Sen. Meg Loughran Cappel |
| 1/29/2025 | Senate | Added as Chief Co-Sponsor Sen. Mike Simmons |
| 2/04/2025 | Senate | Added as Chief Co-Sponsor Sen. Patrick J. Joyce |
| 2/26/2025 | Senate | Added as Co-Sponsor Sen. Paul Faraci |
| 3/04/2025 | Senate | Assigned to Insurance |
| 3/04/2025 | Senate | Senate Committee Amendment No. 1 Filed with Secretary by Sen. Michael E. Hastings |
| 3/04/2025 | Senate | Senate Committee Amendment No. 1 Referred to Assignments |
| 3/12/2025 | Senate | Senate Committee Amendment No. 1 Assignments Refers to Insurance |
| 3/19/2025 | Senate | Senate Committee Amendment No. 1 Postponed - Insurance |
| 3/19/2025 | Senate | Postponed - Insurance |
| 3/21/2025 | Senate | Rule 2-10 Committee Deadline Established As April 4, 2025 |
| 4/04/2025 | Senate | Rule 2-10 Committee Deadline Established As April 11, 2025 |
| 4/11/2025 | Senate | Rule 2-10 Committee/3rd Reading Deadline Established As May 9, 2025 |
| 4/30/2025 | Senate | Postponed - Insurance |
| 5/06/2025 | Senate | Senate Committee Amendment No. 1 Postponed - Insurance |
| 5/06/2025 | Senate | Postponed - Insurance |
| 5/09/2025 | Senate | Rule 2-10 Committee/3rd Reading Deadline Established As May 23, 2025 |
| 5/14/2025 | Senate | Senate Committee Amendment No. 1 Postponed - Insurance |
| 5/20/2025 | Senate | Senate Committee Amendment No. 1 Postponed - Insurance |
| 5/20/2025 | Senate | Postponed - Insurance |
| 5/23/2025 | Senate | Rule 2-10 Committee/3rd Reading Deadline Established As June 1, 2025 |
| 6/02/2025 | Senate | Rule 3-9(a) / Re-referred to Assignments |
| 6/02/2025 | Senate | Senate Committee Amendment No. 1 Rule 3-9(a) / Re-referred to Assignments |
| 7/14/2025 | Senate | Added as Co-Sponsor Sen. Laura Fine |
| 7/17/2025 | Senate | Added as Co-Sponsor Sen. Rachel Ventura |
| 10/23/2025 | Senate | Added as Co-Sponsor Sen. Graciela Guzmán |