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
Subscribers need to be logged in to see rest of this article. Please Login to access. If you're not a subscriber, click here for information on our satisfaction guaranteed subscription options.
Leave a Reply
You must be logged in to post a comment.