Bill Title: Amends the Illinois Insurance Code. In provisions regarding the notice of intention not to renew a policy of insurance, provides that no company may impose renewal premium increases of more than 10% for policies of fire and extended coverage insurance that are subject to certain cancellation requirements, unless the company mails or delivers by electronic means to the named insured notice of the increase in renewal premium at least 60 days before the policy renewal or anniversary date. Creates the Rates for Fire and Extended Coverage Insurance Article. Contains provisions concerning the purpose and applicability of the Article. Prohibits rates from being excessive, inadequate, or unfairly discriminatory, as specified. Sets forth provisions concerning determinations and notice from the Department of Insurance and hearings on the notice. Provides that credible State-specific loss experience shall be used in the development of rates whenever that data is available and statistically reliable. Authorizes insurers, in order to meet actuarial standards of credibility, to supplement State-specific loss experience with countrywide, regional, or out-of-state loss experience. Effective July 1, 2027.
Sponsorship: Partisan Bill (Democrat 28)
Status: (Enrolled) 2026-06-25 - Sent to the Governor
[HB4273 Detail]
Bill Drafts
| Revision | Date | Format | Source | View |
|---|
| Enrolled | 2026-05-28 | HTML/Text | Link | View |
| Engrossed | 2026-04-14 | HTML/Text | Link | View |
| Introduced | 2026-01-05 | HTML/Text | Link | View |
Amendments
Supplemental Documents
| Title | Description | Date | Format | Source | View |
|---|
| No supplemental documents for Illinois HB4273 currently on file. |
