Insurance industry opposes regulation, blames inflation, climate change for rate hikes
Governor Pritzker called for legislation following State Farm’s 27% homeowners rate hike.
Tag: insurance
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.