SB0268

INSURANCE RATE FAIRNESS

Introduced·1/24/25
Introduced Text

SB0268 establishes the Insurance Rate Fairness and Consumer Protection Law to limit unjustified insurance premium increases.

SB0268 creates the Insurance Rate Fairness and Consumer Protection Law in Illinois. It aims to limit unjustified increases in homeowners and automobile insurance premiums, ensure transparency in rate-setting practices, and grant the Department of Insurance greater oversight authority to protect consumers. The law prohibits insurers from using nondriving factors, such as credit score, occupation, and education level, to determine automobile insurance premiums. For homeowners insurance, factors unrelated to the insured property's location, age, and condition cannot be used.

Included in complete analysis

  • Overview
  • Core Provisions
  • Implementation
  • Impact
  • Legal Framework
  • Critical Issues

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Where it stands

Current
Assignments Committee
Next
Committee decision

Sponsors

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9
0
Democratic CaucusRepublican Caucus

Calendar

May 20, 2025

4:00 PM

Insurance Committee Hearing

May 13, 2025

4:30 PM

Insurance Committee Hearing

History

Oct 23, 2025

Senate

Added as Co-Sponsor Sen. Graciela Guzmán

Jul 17, 2025

Senate

Added as Co-Sponsor Sen. Rachel Ventura

Jul 14, 2025

Senate

Added as Co-Sponsor Sen. Laura Fine