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Illinois Governor criticizes State Farm's 27% rate hike, affecting 1.5M homeowners, prompting regulatory action.
Illinois Governor J.B. Pritzker criticized State Farm for proposing a 27% increase in homeowners' insurance rates, affecting 1.5 million policyholders.
Pritzker directed the Illinois Department of Insurance to take regulatory action and called for legislative measures to prevent excessive rate hikes.
State Farm cited higher costs due to severe weather events and inflation as reasons for the increase.
Consumer advocacy groups support government oversight of insurance rates.
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El gobernador de Illinois critica el aumento del 27% de las tasas de interés de State Farm, afectando a 1.5 millones de propietarios de viviendas, lo que provocó medidas regulatorias.