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SB 3827

Illinois Senate bill in Session 104.

Status: in_committee. Latest action: February 6, 2026.

INS-FIRE & EXTENDED COVERAGE.

Bill ID IL-104-SB-3827
Session 104
Status in_committee
Committee Assignments
Senate in_committee 2026-02-06
Summary

Amends the Illinois Insurance Code. Creates the Rates for Fire and Extended Coverage Insurance Article. Provides that the Article applies to policies of fire and extended coverage insurance and establishes policies that are exempt from the Article. Provides that rates shall not be excessive, inadequate, or unfairly discriminatory, as specified. Requires each insurer to file with the Director of Insurance all rates and supplementary rate information for risks that are to be written in this State 20 days prior to the effective date of the rates. Sets forth provisions concerning filing requirements for insurers in competitive and noncompetitive markets and the monitoring duties of the Director concerning market competition and the availability of insurance for the policies of insurance to which the Article applies. Provides that a competitive market is presumed to exist for a line of insurance unless the Director, after a hearing, issues an order stating that a reasonable degree of competition does not exist in the market. Provides that the ruling of the Director regarding market competition is subject to judicial review under the Administrative Review Law. Effective January 1, 2028.

Sponsor
Michael E. Hastings
Official Source Back to Bills
Actions Timeline
Date Event Detail
2026-02-06 Introduced Bill introduced
2026-02-06 Status in_committee
2026-02-06 Latest Action 2/06/2026 - Senate:
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