Three trade associations warn of higher premiums and fewer coverage options as new law takes effect July 1, 2027.
Illinois Gov. JB Pritzker signed legislation Aug. 4 giving the Illinois Department of Insurance authority to challenge automobile insurance rate filings it determines are excessive, inadequate or unfairly discriminatory, drawing a joint statement of opposition from three insurance trade associations that said the change will push costs higher and narrow consumer choice.
Senate Bill 714, now Public Act 104-0753, creates a new Rates for Automobile Insurance article in the Illinois Insurance Code. Its provisions apply only to filings made on or
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