Illinois HB1252 regulates motor vehicle insurance rates and practices to ensure fairness and non-discrimination.
HB1252, known as the Motor Vehicle Insurance Fairness Act, amends the Illinois Insurance Code to establish guidelines for motor vehicle insurance rates and practices. It prohibits insurers from refusing to issue or renew policies based on certain factors, including sex, race, and zip code. Insurers must file complete rate applications with the Director of Insurance, who will consider competition and investment income when evaluating rates. The Director must hold a hearing if a rate change exceeds specified thresholds.
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