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HB5138 - 104th General Assembly

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104TH GENERAL ASSEMBLY
State of Illinois
2025 and 2026
HB5138

Introduced 2/10/2026, by Rep. Kevin John Olickal

SYNOPSIS AS INTRODUCED:

215 ILCS 5/132.3a new
215 ILCS 5/1204.5 new

Amends the Illinois Insurance Code. Requires the Director of
Insurance to examine and investigate the affairs of any company to
determine whether the company has been or is engaged in any rate setting
that is excessive, inadequate, or unfairly discriminatory regarding
affordable housing developments. Requires the Director to submit a report
concerning aggregated housing insurance market statistics for the prior
calendar year on or before October 1 of each year to the Governor and the
General Assembly that shall be posted on the publicly accessible websites
of both the Governor and the General Assembly. Provides that submissions
that constitute trade secrets or sensitive commercial information are
confidential under the Freedom of Information Act. Requires the Department
of Insurance to consult with excess line and Illinois property insurance
underwriting associations regarding reporting formats that capture
excess-line placements and assigned-risk activity without identifying
individual insureds. Grants the Department authority to adopt rules or
circular letters, harmonize data standards with the National Association
of Insurance Commissioners and other states, limit the burden on small
insurers, and ensure data quality. Effective immediately.
LRB104 18175 BAB 31614 b

A BILL FOR

HB5138
LRB104 18175 BAB 31614 b
1

AN ACT concerning regulation.

2

Be it enacted by the People of the State of Illinois,
3
represented in the General Assembly:

4

Section 5.
The Illinois Insurance Code is amended by
5
adding Sections 132.3a and 1204.5 as follows:

6

(215 ILCS 5/132.3a new)
7

Sec. 132.3a.
Power of the Director; affordable housing
8
coverage.
The Director shall examine and investigate the
9
affairs of any company to determine whether the company has
10
been or is engaged in any rate setting that is excessive,
11
inadequate, or unfairly discriminatory regarding affordable
12
housing developments as defined in Section 15 of the
13
Affordable Housing Planning and Appeal Act. The examination
14
and investigatory powers of the Director include any data
15
calls and desk examinations to determine if different rates
16
result for policyholders after any price differentials fail to
17
reflect the difference in expected losses and expenses. The
18
Director shall investigate whether policyholders who are
19
owners of affordable housing developments as defined in
20
Section 15 of the Affordable Housing Planning and Appeal Act
21
are being subject to unfairly discriminatory rates as compared
22
with similar types of market rate housing in Illinois.

HB5138
- 2 -
LRB104 18175 BAB 31614 b
1

(215 ILCS 5/1204.5 new)
2

Sec. 1204.5.
Report on the housing insurance market for
3
affordable rental housing.
4

(a) Definitions. In this Section:
5

"Affordable housing development" means a residential
6
building with leased units required to be affordable by
7
statute, regulation, regulatory agreement, or recorded
8
covenant.
9

"Excess line insurance" has the meaning given to "surplus
10
line insurance" in Sections 445, 445a, and 445.1 of this Code.
11

"Insurer" means an authorized insurer writing property or
12
liability coverage on residential buildings and includes
13
reporting by excess line placements through the Surplus Line
14
Association of Illinois as provided by rule.
15

"Multifamily residential building" means a property
16
containing 5 or more dwelling units.
17

"Nonprofit housing provider" means an organization
18
described by Section 501(c)(3) of the United States Internal
19
Revenue Code or an entity formed under the General Not For
20
Profit Corporation Act of 1986 that constructs, owns, or
21
operates residential housing in Illinois.
22

(b) Annual report.
23

(1) The Director shall submit a report detailed in
24

subsection (c) on or before October 1 of each year to the
25

Governor and the General Assembly that shall be posted on
26

the publicly accessible websites of both the Governor and

HB5138
- 3 -
LRB104 18175 BAB 31614 b
1

the General Assembly.
2

(2) The report shall analyze the availability,
3

pricing, terms, and affordability of property and
4

liability insurance for multifamily residential buildings
5

owned or operated by nonprofit and mission-driven
6

entities, including affordable housing developments.
7

(3) The report shall include statewide and regional
8

results, with the City of Chicago reported separately from
9

the rest of the State.
10

(c) Required contents. The report shall present, at a
11
minimum, aggregated statistics for the prior calendar year on:
12

(1) Premium levels and changes, including the average
13

and median premium per unit and square foot and premium as
14

a share of operating expenses.
15

(2) Coverage availability and market channel,
16

including nonrenewal and declination counts, the share
17

placed in the excess line market, and use of the Illinois
18

property insurance underwriting association.
19

(3) Deductibles by peril and trend.
20

(4) Common exclusions and limitations, including new
21

or expanded exclusions introduced in the reporting year.
22

(5) Coverage limits relative to reported replacement
23

cost.
24

(6) Claims frequency and severity for fire, water,
25

wind, and liability, to the extent available.
26

(7) Risk-mitigation credits and building resiliency

HB5138
- 4 -
LRB104 18175 BAB 31614 b
1

investments reported by owners and recognized by insurers.
2

(8) Regional heat-map summaries of market stress using
3

the methodology set by the Department by bulletin or
4

circular letter. The Department may align with the
5

National Association of Insurance Commissioners' market
6

intelligence data elements.
7

(d) Data collection and confidentiality.
8

(1) Submissions that constitute trade secrets or
9

sensitive commercial information are confidential under
10

the Freedom of Information Act. The published report shall
11

contain only aggregated, de-identified statistics and
12

analyses.
13

(2) The Department shall consult with excess line and
14

Illinois property insurance underwriting associations
15

regarding reporting formats that capture excess-line
16

placements and assigned-risk activity without identifying
17

individual insureds.
18

(e) Rulemaking. The Department may adopt rules or circular
19
letters to implement this Section, harmonize data standards
20
with the National Association of Insurance Commissioners and
21
other states, limit the burden on small insurers, and ensure
22
data quality.

23

Section 99.
Effective date.
This Act takes effect upon
24
becoming law.

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