Hastings files multiple bills to protect consumers from unfair insurance rate setting – WAND (Decatur)

One part of the plan would ban insurance companies from cost shifting, or passing the cost of out-of-state emergencies like hurricanes, wildfires, or floods onto Illinois customers. "Are these insurance companies socializing the costs of other states' problems on Illinois residents? I don't think that's fair," state Sen. Michael Hastings said. "It's not explicitly prohibited in legislation or in statute."
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MsT
10 months ago

And when there are no insurers…

Deb
10 months ago

It’s hypocritical of insurance companies. Insurance companies stopped healthcare providers, like hospitals, to cost shifting to help with the financial burden hospitals experience for caring for patients without health insurance. Now these same companies are shifting cost burdens to other states for California wildfires, hurricane damages to states that don’t have these risks. This cost shifting should be illegal. Insurance companies choose to insure property in high risk areas and people choose to live there. Insurance companies should absorb the cost. The only thing that consumers can due is choose regional insurance companies instead of national companies.

Last edited 10 months ago by Deb

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