Gov. JB Pritzker and legislative leaders have suggested Illinois should exercise more regulatory authority over premiums that insurance companies charge for homeowners coverage. That began after State Farm Insurance announced it was raising rates in Illinois by an average 27.2%.

During a Senate Insurance Committee hearing, insurance industry officials said rates in Illinois are rising due to risks posed by severe storms. They said regulating premiums would ultimately harm consumers.

Pritzker has asked lawmakers to consider legislation in the upcoming fall veto session, but it is unclear whether legislation will be ready for consideration by that time.

This summary was written by the reporters and editors who worked on this story.

Insurance industry officials defended recent homeowner

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