Allstate spikes Illinois homeowners insurance rates for almost 200K policyholders

Illinois Homeowners Insurance Rates - neighborhood of houses

The second largest home insurer in the state is raising rates by 8 percent in early 2020. Allstate will be increasing its Illinois homeowners insurance rates by the largest amount the state has seen in several years. By early next year, policyholders will be paying an average of 8 percent more for their coverage than they are this year. The Illinois Department of Insurance announced the rate hike in a filing they issued on Halloween. Allstate is the second largest home insurance provider in the state. It has just about…

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Insurance news made when a settlement was paid entirely in quarters

Insurance News payment in quarters

A prominent businessman in Illinois disagreed with the payout from his son’s auto policy and retaliated in a unique way. In retaliation for what an Illinois businessman felt was not a fair outcome in an auto payout following the death of his son, he is making insurance news by paying a portion of the final settlement using thousands upon thousands of pounds of quarters. This, according to one of the attorneys who was involved in the auto payout case. The attorney, Douglas Dorris, provided confirmation that when Roger Herrin came…

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Insurance news from Illinois includes a grant of $1 million to assist consumers

Insurance News for health care reform

The state has received the funds to help to improve the complaints system regarding industry practices. Illinois is making insurance news now that it has received a grant from the federal government worth $1 million, which will be used to help the state to improve the way that it provides consumers with assistance when they are seeking to file complaints about the way that the industry functions. The announcement was made by Andrew Boron, the director of the Illinois Department of Insurance. When Boron made the announcement, he explained that…

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Illinois state insurance may be getting a new carrier

Controversy abounds in Illinois. State legislators have received a significant amount of criticism from the public for their decision to change health insurance providers. The switch has an effect on more than 100,000 state employees and their dependants. Furthermore, lawmakers have been embroiled in a struggle to better define the authority of the Commission on Government Forecasting and Accountability (COFGA) has over the insurance industry. The Senate recently voted to allow COFGA the authority to approve applicable health insurance contracts for state workers. Senator Dale Righter, a supporter of the…

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Health insurers required spending law or your check is in the mail!

A year has passed since the health care reform bill, the Affordable Care Act, was signed into law. Many used the opportunity to hold events that publicized the perceived “broken” promises of the law, but in Illinois, insurance officials are arguing that consumers are better off now than they were without it. The Illinois Insurance Department Director, Michael McRath, has said that in the next year some consumers will be receiving rebates as a result of the law’s requirements. “There is some disruption and definitely some discomfort among insurers,” says…

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