state_legiscan_drain · IL
CORPORATE OPPORTUNITIES
January 5, 2026
Summary
If enacted, this bill would prohibit insurance companies from increasing renewal premiums for fire and extended coverage insurance by more than 10% unless the insurer provides at least 60 days' advance notice to the policyholder. The bill also establishes a new regulatory framework requiring that rates for such policies not be excessive, inadequate, or unfairly discriminatory, and mandates the use of credible state-specific loss experience where available. This would primarily affect insurers and property owners in Illinois, particularly those with fire and extended coverage policies.
AI-generated summary · Jun 8, 2026. Verify with your compliance counsel before acting.
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Source: https://www.ilga.gov/Legislation/BillStatus?DocNum=4273&GAID=18&DocTypeID=HB&SessionID=114&GA=104
Common questions
- What does "CORPORATE OPPORTUNITIES" cover?
- If enacted, this bill would prohibit insurance companies from increasing renewal premiums for fire and extended coverage insurance by more than 10% unless…
- When was it published?
- It was published on January 5, 2026.