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.
State Rep. Sharon Chung of Bloomington helped defeat a bill that would have allowed the state to regulate homeowners insurance rates.
Pritzker had called for action in wake of State Farm’s 27.2% rate hike in July.
State Farm said the lawsuit is without merit and “has nothing to do with Illinois customers or the cost of their insurance.”
Governor Pritzker called for legislation following State Farm’s 27% homeowners rate hike.
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.
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.
BLOOMINGTON – In a surprising move that has implications for not-for-profit organizations in central Illinois, State Farm is cutting back on its charitable giving in at least one area. The company website notes retirees will no longer be eligible for the company’s charitable matching gift program, effective with the new year. The Bloomington-based insurer will
BLOOMINGTON — Four people have filed race discrimination lawsuits against State Farm in recent weeks. Two were filed in Texas and two were filed in Georgia. The new cases are in addition to similar lawsuits filed against the insurance giant that WGLT previously has reported on. Each of the plaintiffs, five women and one man,
Champaign Mayor Declares Emergency, Ebert Fest Canceled CHAMPAIGN – On Thursday, Champaign mayor Deborah Frank Feinen issued an Executive Order related to the COVID-19 virus. The action will give the city increased flexibility to operate during emergency operations. On Friday, the city council will hold a special emergency meeting to consider passing an ordinance related