Part 1/12:
Illinois Insurance Crisis: Rising Rates and Political Turmoil
The landscape of homeowners insurance in Illinois is facing a tumultuous upheaval, reminiscent of California’s ongoing struggles with regulation and insurer withdrawals. Major insurers, notably State Farm and Allstate, are enacting staggering rate increases—up to 27.2%—sparking outrage among lawmakers, consumers, and industry insiders alike. This complex situation exposes deeper systemic issues regarding regulation, market sustainability, and political interference.