Story Summary:

A bill that failed on the House floor last week would have given state insurance regulators authority to review and approve rates charged for homeowners’ insurance in Illinois.

Gov. JB Pritzker and legislative leaders called for the legislation following State Farm’s announcement in July of a 27.2% rate hike. They suggested the company was shifting the cost of weather-related disasters in other states onto the backs of Illinois consumers.

The bill passed the Senate but failed in the House on the final day of lawmakers’ fall veto session. That means if supporters want it to be reconsidered, they will have to introduce a new bill in the next legislative session, which begins in January.

This summary was written by the reporters and editors who worked on this story.

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