State representative Matt Hanson, D-Montgomery, is taking action to lower home and auto insurance costs by passing a new bill that ensures Illinois customers are not padding profits of big corporations or covering corporate losses in high-risk states like Florida or Texas. “The cost of home and auto insurance is
By Peter HancockCapitol News Illinoisphancock@capitolnewsillinois.com A bill that would give the Illinois Department of Insurance authority to review and approve rates for both homeowners and automobile coverage is advancing in the General Assembly. Those two proposals, which started as separate pieces of legislation, were combined into a single bill that
By Ben SzalinskiCapitol News Illinoisbszalinski@capitolnewsillinois.com Insurance companies operating in Illinois have a transparency problem with State regulators and consumers, four top State officials alleged recently. 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
By Peter HancockCapitol News Illinoisphancock@capitolnewsillinois.com Governor JB Pritzker is asking state lawmakers for more authority to regulate the homeowners insurance market in Illinois. His comments came after the Bloomington-based State Farm Fire and Casualty Company notified the Illinois Department of Insurance that it was raising premiums for residential property casualty
By PETER HANCOCK A bipartisan group of lawmakers is proposing strict new limits on health insurance policies that require patients to receive “prior authorization” from the company before they can receive certain treatments, tests or prescription drugs. It’s a common practice under most health plans, one originally intended to hold
