Bill to regulate homeowners insurance rates could reemerge this session
Pritzker called for legislation following State Farm’s double-digit rate hike last year.
Tag: insurance
Pritzker pushes back at State Farm in escalating fight for tighter insurance regulations
State Farm Mutual Automobile Insurance Company CEO Jon Farney wrote Pritzker on Wednesday to push against legislation aimed at reining in insurance premium price hikes.
Insurance industry opposes regulation, blames inflation, climate change for rate hikes
Governor Pritzker called for legislation following State Farm’s 27% homeowners rate hike.
State leaders seek more transparency from insurance companies
Illinois leaders remain frustrated by State Farm’s rate hikes on Illinois homeowners and threatened more state regulation over premium increases in a letter to the editor published Wednesday in the Chicago Tribune.
Consumer advocate pushes for legislative action regarding State Farm rate spike
According to Bloomington-based State Farm, home insurance rates are on the rise in Illinois because of rising home replacement costs and more frequent severe weather events that drive up the cost and frequency of claims.