Home, auto insurers respond to new Illinois laws
Illinois insurance companies are responding to new state laws that give regulators authority to review and approve home and auto insurance rate changes. Gov. JB Pritzker signed the bills Tuesday. Illinois and Wyoming were previously the only states without regulatory control over insurance rates. The new laws take effect July 1, 2027. House Bill 4273 addresses homeowners insurance. It requires insurers to give customers 60 days’ notice before raising premiums by more than 10 percent. The law also gives the […]
