Illinois SB 2698: INSURANCE RATE FAIRNESS
Status: Added as Co-Sponsor Sen. Meg Loughran Cappel (as of 2025-10-14)
State: Illinois · Session: 104th · Bill: SB 2698
Sponsors: Michael E. Hastings, Meg Loughran Cappel
Bill Text
• Illinois General Assembly - Full Text of SB2698 • • • • • • • • • • • • Select Language × The Illinois General Assembly offers the Google Translate™ service for visitor convenience. In no way should it be considered accurate as to the translation of any content herein. Visitors of the Illinois General Assembly website are encouraged to use other translation services available on the internet. The English language version is always the official and authoritative version of this website. NOTE: To return to the original English language version, select the "Show Original" button on the Google Translate™ menu bar at the top of the window. Choose Language English Afrikaans Albanian Arabic Armenian Azerbaijani Basque Bengali Bosnian Catalan Croatian Czech Danish Dutch Esperanto Estonian Filipino Finnish French Galician Georgian German Greek Gujarati Haitian Creole Hausa Hawaiian Hebrew Hindi Hungarian Icelandic Indonesian Interlingua Interlingue Inuktitut Irish Italian Japanese Javanese Kannada Khmer Korean Latin Latvian Lithuanian Luxembourgish Macedonian Malagasy Malayalam Maltese Maori Marathi Myanmar Nepali Norwegian Odia Pashto Punjabi Romanian Russian Samoan Sango Sanskrit Sardinian Sindhi Sinhala Slovak Slovenian Somali Southern Sotho Spanish Sundanese Swahili Swedish Tamil Telugu Thai Tigrinya Tonga Turkish Ukrainian Urdu Vietnamese Welsh Xhosa Yiddish Yoruba Zulu Powered by Translate Close Illinois General Assembly Top Navigation Bar Translate Learn Select General Assembly Search the 104th General Assembly Enter search terms for legislation, members, committees, or schedules. ILGA.GOV • • LEGISLATION & LAWS • Bills & Resolutions • Public Acts • Illinois Compiled Statutes • Illinois Constitution • Search Legislation • Glossary • Guide • Reports & Inquiry • Legislative Reports • Special Reports • FTP Site • Legislator Lookup • Capitol Complex Phone Numbers • Rules & Regulations • Illinois Register • Administrative Rules • Senate • Members • Schedules • Committees • Request for Remote Testimony • Journals • Transcripts • Rules • Audio/Video • FOIA Information • Senate Employment Opportunities • Media Guidelines • House • Members • Schedules • Committees • Submit testimony for House Committees • Journals • Transcripts • Rules • Audio/Video • FOIA Information • House Employment Opportunities • Log In Mobile Top Bar Search the 104th General Assembly Enter keywords to search the Illinois General Assembly website. Full Text of SB2698 • Home • Legislation • Full Text SB2698 - 104th General Assembly • Bill Status • Full Text • Votes • Witness Slips Select Menu Bill Status Full Text Votes Witness Slips Printer Friendly Version Introduced Printer Friendly Version Introduced Open PDF 104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026 SB2698 Introduced 10/14/2025, by Sen. Michael E. Hastings and Meg Loughran Cappel SYNOPSIS AS INTRODUCED: 215 ILCS 5/Art. XLVIII heading new 215 ILCS 5/1801 new 215 ILCS 5/1805 new 215 ILCS 5/1810 new 215 ILCS 5/1815 new 215 ILCS 5/1830 new 215 ILCS 5/1835 new 215 ILCS 5/1840 new 215 ILCS 5/1845 new Amends the Illinois Insurance Code. Creates the Rates Article. Provides that the Article may be cited as the Insurance Rate Fairness and Consumer Protection Law. Sets forth provisions requiring insurers to receive prior approval for rate changes from the Department of Insurance on and after January 1, 2028. Provides that no insurer shall increase premiums by more than 10% per year for any policyholder without exceptional justification. Requires the Department to conduct market conduct examinations of insurers at least once every 3 years to ensure compliance with the Article. Establishes penalty and enforcement provisions for violations of the Article. Provides that the Department may adopt rules necessary to implement and enforce the requirements of the Article. Effective January 1, 2028. LRB104 15445 BAB 28601 b A BILL FOR SB2698LRB104 15445 BAB 28601 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 Illinois Insurance Code is amended by 5adding Article XLVIII as follows: 6 (215 ILCS 5/Art. XLVIII heading new) 7ARTICLE XLVIII. RATES 8 (215 ILCS 5/1801 new) 9 Sec. 1801. Short title. This Article may be cited as the 10Insurance Rate Fairness and Consumer Protection Law. 11 (215 ILCS 5/1805 new) 12 Sec. 1805. Purpose. The purpose of this Law is to limit 13u
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