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State Farm justifies a 27.2% hike in Illinois homeowners' insurance rates, but Governor Pritzker disputes the need and acts.
State Farm is defending a 27.2% increase in homeowners' insurance rates in Illinois, affecting 1.5 million policyholders.
The company cites rising repair costs and more frequent severe weather as reasons, but Governor JB Pritzker challenges these justifications and has directed the state's Department of Insurance to take regulatory actions to protect homeowners.
State Farm argues it does not shift costs between states and faces unsustainable losses.
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State Farm justifica un aumento del 27.2% en las tasas de seguro de los propietarios de viviendas de Illinois, pero el gobernador Pritzker cuestiona la necesidad y actúa.