Illinois lawmakers pass bills curbing insurance rate hikes – Crain’s

“In reality, the bills do nothing to address the factors contributing to higher premiums, such as higher repair costs, more severe weather, and legal system abuse,” the lobbying groups said in a statement. “Instead, the bills implement a fundamental shift in Illinois’ regulatory environment and move the state towards a more rigid rate-approval system similar to struggling insurance markets like California. This shift will make it harder for insurers to respond in real-time to market conditions and adjust rates up or down based on actual claims experience.”
11 Comments
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Lana
5 months ago

How about passing a bill to curb property taxes!

K6
5 months ago

I have read , every three years you should have your insurance broker do a search to get the best rates possible. Amazing how much money a person can save. Stay away from one single insurance company

Leaving Soon, just not soon enough
5 months ago

The insurance companies will make a business decision to stay in Illinois or leave the state. Many times, when the margins decline, they leave the state.

Joe
5 months ago

Start arresting and jailing the catalytic convert , air bag and car thefts . That’s one reason for higher insurance rates .

David F
5 months ago

What will the state do when people start having problems getting insurance as all then?
Did the same thing with inhalers and many are not available in the state anymore.

The Railroader
5 months ago
Reply to  David F

Don’t look at the results of leftist legislation. Look at their (allegedly) good intentions.

Illinois elects its dumbest.

PPF
5 months ago
Reply to  David F

What inhalers are no longer available in the state anymore? Insurance companies utilize formularies to decide what inhalers are available. They utilize these formularies to put pressure on the manufacturers to lower prices. If the price isn’t right, those inhalers will not be offered on that particular insurance plan. That doesn’t mean they are banned nor does it mean this new law caused an inhaler to be removed. If anything, large manufacturers of inhalers (AZ, GSK, BI) have voluntarily implemented maximum out of pocket programs for $35. Some insurance companies will have “exclusive” formularies where only one drug or inhaler… Read more »

Call my shrink
5 months ago

They should pass a law to curb tax hikes

mqyl
5 months ago
Reply to  Call my shrink

Yep. On a related note, they should’ve started many years ago to curb bloat. There are too many unduly high salaries, retirement benefits, number of employees, number of offices, etc.

They should clean up their own mess first.

Irish Patriot
5 months ago

The collateral damage will be to drive Allstate and State Farm out of the state too.

David F
5 months ago
Reply to  Irish Patriot

If they leave *as they should” I don’t know about Northbrook but if you live in Bloomington I’d stock up on ammo. State Farm and it’s employee’s is the last thing keeping this from Bloomington becoming another St Louis crime fest.

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Glennon raised the stakes of the moment in broader civilizational terms: “This election in Illinois is not about the usual pedestrian issues… it’s about nothing less than whether Western civilization survives in our democratic republic of America because [the left], just on the open border alone, will destroy the country, and now they’re bringing in the jihadists, frankly, into the party.” Audio and summary linked here.Audio and summary linked here.

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