Illinois SB2691 mandates a study on nondriving factors in auto and homeowners insurance rates.
Illinois SB2691 requires the Department of Insurance to conduct a comprehensive study on the use of nondriving factors in setting auto and homeowners insurance premiums. The study will examine how factors such as credit score, occupation, and education level are used by insurers, assess their impact on claims and risk, and review their effect on low-income individuals and communities of color. The Department must submit a report by January 1, 2027, with recommendations for statutory or regulatory changes to ensure fair and equitable insurance rates. The Act will be repealed on January 1, 2028.
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