SB0269Introduced in the Senate
INSURANCE RATE TRANSPARENCY
Introduced by Michael Hastings, District 19
What does this bill do?
Plain-English breakdown
Writing a plain-English summary of this bill… this can take a few seconds the first time.
Official description
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.
Where it stands
Added as Co-Sponsor Sen. Paul Faraci
February 26, 2025
How did lawmakers vote?
No recorded vote is available for this bill yet.
What do people think?
Citizen Voice
How would you vote on this bill?
An unofficial public opinion poll. It does not affect the bill or the official vote.
One response per device. Location is self-reported and not verified. Results are informal and not a scientific survey.
Bill history
Filed with Secretary by Sen. Michael E. Hastings
First Reading
Referred to Assignments
Added as Chief Co-Sponsor Sen. Mike Porfirio
Added as Chief Co-Sponsor Sen. Meg Loughran Cappel
Added as Chief Co-Sponsor Sen. Mike Simmons
Added as Chief Co-Sponsor Sen. Patrick J. Joyce
Added as Co-Sponsor Sen. Paul Faraci
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