JB Pritzker signed legislation Tuesday that will give the Illinois Department of Insurance authority to review and approve rate changes for homeowners and automobile policies. Prior to the bill signings, Illinois was one of only two states, with Wyoming, that did not exercise regulatory control over insurance rates. The new laws come a little more than a year after Illinois-based State Farm announced it was raising homeowners insurance rates an average 27.2% statewide. Insurance Department Director Ann Gillespie agreed there often are legitimate reasons for rate increases. Senate Bill 714, the auto insurance bill, requires companies to give customers 30 days’ notice before raising premiums more than 10%.