IllinoisSB0269104th General Assembly (2025–2026)Senate

INSURANCE RATE TRANSPARENCY

Sponsored By: Michael E. Hastings

In Committee

Summary

Creates the Insurance Rate Transparency Law as an Article of the Illinois Insurance Code. Provides that, beginning January 1, 2026, each insurer offering automobile and homeowners insurance policies in Illinois shall maintain a publicly accessible website displaying a summary of the annual percentage increase or decrease in premium rates for homeowners insurance policies and automobile insurance policies. Requires the website to display the rate-change data for the previous 5 years, updated annually by no later than January 31 of each year, and specified other data. Sets forth provisions concerning the format of the renewal notice; enforcement of the requirements by the Department of Insurance; penalties; and rulemaking. Effective immediately.

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Bill Overview

No Economic Impacts Identified for this Bill

Sponsors & Cosponsors

Sponsor

  • Michael E. Hastings

    Affiliation unavailable

Cosponsors

  • Meg Loughran Cappel

    Affiliation unavailable

  • Mike Porfirio

    Affiliation unavailable

  • Mike Simmons

    Affiliation unavailable

  • Patrick J. Joyce

    Affiliation unavailable

  • Paul Faraci

    Affiliation unavailable

Roll Call Votes

No roll call votes available for this bill.

Actions Timeline

  1. Added as Co-Sponsor Sen. Paul Faraci

    2/26/2025Senate
  2. Added as Chief Co-Sponsor Sen. Patrick J. Joyce

    2/4/2025Senate
  3. Added as Chief Co-Sponsor Sen. Mike Simmons

    1/29/2025Senate
  4. Added as Chief Co-Sponsor Sen. Meg Loughran Cappel

    1/29/2025Senate
  5. Added as Chief Co-Sponsor Sen. Mike Porfirio

    1/29/2025Senate
  6. Referred to Assignments

    1/24/2025Senate
  7. First Reading

    1/24/2025Senate
  8. Filed with Secretary by Sen. Michael E. Hastings

    1/24/2025Senate

Bill Text

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