Illinois SB 2947: CIV PRO-INSTRUCTION-LIABILITY

Status: Rule 3-9(a) / Re-referred to Assignments (as of 2024-04-19)

State: Illinois · Session: 103rd · Bill: SB 2947

Sponsors: Jil Tracy

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104TH GENERAL ASSEMBLY 
State of Illinois 
2025 and 2026
SB2947

Introduced 1/27/2026, by Sen. Michael E. Hastings 

SYNOPSIS AS INTRODUCED:

215 ILCS 5/143.17 from Ch. 73, par. 755.17

215 ILCS 5/Art. XLVIII heading new

215 ILCS 5/1801 new

215 ILCS 5/1802 new

215 ILCS 5/1803 new

215 ILCS 5/1804 new

215 ILCS 5/1805 new

 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 January 1, 2027.

LRB104 19637 BAB 33086 b

A BILL FOR

SB2947LRB104 19637 BAB 33086 b

1 AN ACT concerning regulation.

2 Be it enacted by the People of the State of Illinois, 

3represented in the General Assembly:

4 Section 5. The Illin

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