Gov. JB Pritzker and legislative leaders have suggested Illinois should exercise more regulatory authority over premiums that insurance companies charge for homeowners coverage.

Insurance industry officials said rates in Illinois are rising due to risks posed by severe storms.

Pritzker has asked lawmakers to consider legislation in the upcoming fall veto session.

Insurance industry officials defended recent homeowners insurance rate spikes this week, blaming such factors as inflation and climate change while warning that attempts to regulate their ability to set rates would be bad for consumers.

In testimony during a virtual meeting Wednesday of the Senate Insurance Committee, officials pushed back against criticisms by Gov. JB Pritzker and legislative leaders who said the hikes rais

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