Governor demands swift action following State Farm’s controversial moves: ‘I am deeply concerned’
Illinois Gov. JB Pritzker, State Farm’ın homeowners in the state’s insurance rates in August will increase an average of 27% after announced.
What’s happening?
Wbbm After receiving an E -mail from State Farm, he confirmed the price increase.
This is a change because the profits of the state farm fall. The company said it spent $ 1.26 per $ 1 per $ 1 per host paid in 2024.
Pritzker proposed However, in a statement, a part of the story of State Farm is not gathered: “I am deeply worried by State Farm’s unjust and arbitrary insurance rate hike. These increases are based on the number of disasters loss that is completely inconsistent with the Ministry of Sigorta’s own analysis-state shows that the state of the state has changed the external costs.”
Why is this price increase important?
State Farm said that these price increases occur because the severe weather is more often. Illinois reportedly had more claims than other states except Texas for his full damage in 2024. CBS News Chicago.
Although severe weather events are not unusual, scientific consensus is more excessive due to increasing global temperatures.
If premiums continue to rise in the country and beyond, this will make it difficult for many people to meet even the foundations.
What was done about the price increase?
The governor calls for the Ministry of Insurance and the General Assembly of Illinois to take action. Pritzker hopes that thanks to a combination of legislative and regulatory actions, it will reduce rates for Illinois hosts.
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