Pritzker indicates he'll sign new insurance regulations
[May 29, 2026]
By Jim Talamonti | The Center Square
(The Center Square) – Gov. J.B. Pritzker is expected to sign two bills
headed to his desk that give the state power over auto and home
insurance rates.
“I look forward to signing these common-sense protections into law,” the
governor said in a statement released on Wednesday night.
The Illinois House passed Senate Bill 714 to regulate the auto insurance
industry and House Bill 4273 to regulate property insurance.
State Rep. Thaddeus Jones, D-Calumet City, said SB 714 would bring
consumer protection and affordability to residents.
“We want to make sure that the auto industry comes into compliance with
the Department of Insurance. We want to make sure that rate review
happens,” Jones said.
Secretary of State Alexi Giannoulias campaigned aggressively in favor of
the legislation and held eight virtual town hall events last year
targeted at urban areas around the state.
“We’re going to treat this like a political campaign,” Giannoulias said
when he announced his “Driving Change” initiative last July.
State Rep. Jeff Keicher, R-Sycamore, said Giannoulias could lower rates
now by applying license renewal tests to people who have had tickets or
accidents.
“The secretary of state has this within his power, yet he wants this as
quill in his hat so he can run for another office,” Keicher said.
Giannoulias is rumored to be considering a run for mayor of Chicago next
year.
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Damaged vehicle after a car crash with airbag deployment, May 5,
2025. Photo: Carleen Johnson / The Center Square
Keicher said SB 714 would cause uncertainty and drive insurance
rates up. He said auto insurance rates decreased in the first half
of 2025 while national numbers were still increasing.
“The market is working in the state of Illinois,” the Sycamore
Republican said.
Keicher cited U.S. News & World Report ranking Illinois sixth-lowest
in the nation for auto insurance rates.
Jones sponsored HB 4273 to regulate property insurance.
“This is a great bill for affordability for our consumers. This has
been negotiated as perfectly as we could with the industry, adding
their language to this bill,” Jones said.
The Illinois Insurance Association, the American Property Casualty
Insurance Association and the National Association of Mutual
Insurance Companies issued a joint statement in response to the
passage of SB 714 and HB 4273.
“Proponents of the measure claim the bills will protect consumers
from rising insurance costs, but in reality, the bills do nothing to
address the factors contributing to higher premiums, such as higher
repair costs, more severe weather, and legal system abuse,” the
statement said.
The industry groups said Illinois residents would likely experience
higher costs and fewer options for coverage.
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