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IL HB5138
Bill
Status
Introduced
2/5/2026
Primary Sponsor
Kevin Olickal
Click for details
AI Summary
- Director of Insurance must examine and investigate insurance companies to determine whether they engage in excessive, inadequate, or unfairly discriminatory rate setting for affordable housing developments
- Annual report on housing insurance market statistics required by October 1 each year, submitted to the Governor and General Assembly and posted on their public websites
- Report must include aggregated data on premium levels, coverage availability, nonrenewals, declinations, deductibles, exclusions, claims frequency, and regional market stress, with Chicago reported separately from the rest of the state
- Trade secrets and sensitive commercial information submitted by insurers are protected as confidential under the Freedom of Information Act, with only aggregated, de-identified data published
- Department of Insurance authorized to adopt rules harmonizing data standards with the National Association of Insurance Commissioners and limiting reporting burdens on small insurers
Legislative Description
HOUSING INSURANCE REPORT
Last Action
Assigned to Insurance Committee
3/12/2026
Committee Referrals
Insurance3/12/2026
Rules2/10/2026
Full Bill Text
No bill text available