(The Center Square) – A bill to regulate homeowners insurance rates will be up for consideration in the Illinois House after it cleared the state Senate on Wednesday.
An amended version of House Bill 4273 prohibits home insurers from raising premiums by more than ten percent without at least 60 days notice, bans “excessive or discriminatory” rates and gives the Illinois Department of Insurance more regulatory authority.
State Sen. Dave Syverson, R-Cherry Valley, said increased regulation has historically led to higher rates for consumers.
SMALL BIZ OPTIMISM REMAINS BELOW AVERAGE
The NFIB Small Business Optimism Index rose 0.1 points in April to 95.9, below its 52-year average of 98.0 for the second consecutive month.
The Uncertainty Index fell 4 points to 88, remaining well above its historical average of 68.
NFIB Illinois State Director Noah Finley said small businesses need tax and regulatory relief, not higher costs or regulatory burdens from Springfield.
CHICAGO MAYOR TO MEET POPE LEO XIV
Chicago Mayor Brandon Johnson says he is going to meet Pope Leo XIV in Rome later this month. NBC 5 Chicago reported that the mayor’s first visit with the Chicago-born pope is set for May 28. The mayor said he would thank the pontiff for his moral clarity.
