# Illinois SB2698: INSURANCE RATE FAIRNESS

Illinois SB2698, INSURANCE RATE FAIRNESS, is a 104th General Assembly (2025–2026) Senate bill sponsored by Michael E. Hastings (Democratic); status in committee, last action 2025-10-14 (Added as Co-Sponsor Sen. Meg Loughran Cappel) (as of 2026-11-01).

- Canonical: https://policyrisk.com/state-bill/IL-SB2698-2025-2026
- As of: 2026-11-01
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: Illinois SB2698
- State: Illinois
- Session: 104th General Assembly (2025–2026)
- Title: INSURANCE RATE FAIRNESS
- Status: in committee
- Chamber: Senate
- Introduced: 2025-10-14
- Last action: 2025-10-14, Added as Co-Sponsor Sen. Meg Loughran Cappel
- Sponsor: Michael E. Hastings (Democratic)
- Cosponsors: 1
- Subjects: assignments
- Touches household money: no
- Economic provisions PRIA read: 0

## 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.

## Bill overview

No economic impacts identified for this bill.

## Sponsors and cosponsors

- Sponsor: Michael E. Hastings (Democratic), Senate
- Cosponsor: Meg Loughran Cappel (Democratic), Senate

## Actions (4)

- 2025-10-14: Added as Co-Sponsor Sen. Meg Loughran Cappel (Senate)
- 2025-10-14: Referred to Assignments (Senate)
- 2025-10-14: First Reading (Senate)
- 2025-10-14: Filed with Secretary by Sen. Michael E. Hastings (Senate)

## Bill text

- Introduced: [PDF](https://www.ilga.gov/documents/legislation/104/SB/PDF/10400SB2698.pdf)

## Related bills

- HB5198: AFFORDABLE HOUSING-CILAS (passed house)
- SB1937: PENSION CODE-VARIOUS (passed senate)
- HB2563: CONDO-RESERVE STUDY (in committee)
- HB4701: LIMITATIONS FACILITY FEES ACT (in committee)
- SB3008: DHS-ABLE PROGRAM INFO MATERIAL (passed senate)
- SB3484: VEH CD-PLATES-REGISTRATION (signed)

## Sources
- [Introduced (PDF)](https://www.ilga.gov/documents/legislation/104/SB/PDF/10400SB2698.pdf)

## Related
- [HB5198: AFFORDABLE HOUSING-CILAS](https://policyrisk.com/state-bill/IL-HB5198-2025-2026)
- [SB1937: PENSION CODE-VARIOUS](https://policyrisk.com/state-bill/IL-SB1937-2025-2026)
- [HB2563: CONDO-RESERVE STUDY](https://policyrisk.com/state-bill/IL-HB2563-2025-2026)
- [HB4701: LIMITATIONS FACILITY FEES ACT](https://policyrisk.com/state-bill/IL-HB4701-2025-2026)
- [SB3008: DHS-ABLE PROGRAM INFO MATERIAL](https://policyrisk.com/state-bill/IL-SB3008-2025-2026)
- [SB3484: VEH CD-PLATES-REGISTRATION](https://policyrisk.com/state-bill/IL-SB3484-2025-2026)
- [Illinois bills](https://policyrisk.com/states/illinois/bills)
- [Illinois state hub](https://policyrisk.com/states/illinois)
- [All state legislation](https://policyrisk.com/state-bills)

Source: PRIA, https://policyrisk.com/state-bill/IL-SB2698-2025-2026 (as of 2026-11-01).