IllinoisSB2698104th General Assembly (2025–2026)Senate

INSURANCE RATE FAIRNESS

Sponsored By: Michael E. Hastings (Democratic)

In Committee

Summary

Amends the Illinois Insurance Code. Creates the Rates Article. Provides that the Article may be cited as the Insurance Rate Fairness and Consumer Protection Law. Sets forth provisions requiring insurers to receive prior approval for rate changes from the Department of Insurance on and after January 1, 2028. Provides that no insurer shall increase premiums by more than 10% per year for any policyholder without exceptional justification. Requires the Department to conduct market conduct examinations of insurers at least once every 3 years to ensure compliance with the Article. Establishes penalty and enforcement provisions for violations of the Article. Provides that the Department may adopt rules necessary to implement and enforce the requirements of the Article. Effective January 1, 2028.

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Bill Overview

No Economic Impacts Identified for this Bill

Sponsors & Cosponsors

Sponsor

  • Michael E. Hastings

    Democratic • Senate

Cosponsors

  • Meg Loughran Cappel

    Democratic • Senate

Roll Call Votes

No roll call votes available for this bill.

Actions Timeline

  1. Added as Co-Sponsor Sen. Meg Loughran Cappel

    10/14/2025Senate
  2. Referred to Assignments

    10/14/2025Senate
  3. First Reading

    10/14/2025Senate
  4. Filed with Secretary by Sen. Michael E. Hastings

    10/14/2025Senate

Bill Text

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