In another sign of a possibly softening homeowners market, exclusive-agent carrier American Family Insurance has cut rates in Illinois by 2 percent effective Nov. 1.
It is the company’s first homeowners reduction in at least seven years, according to a spokesman says. American Family is the fifth largest homeowners insurer in Illinois. The move follows State Farm’s rate reduction.
Was this article valuable?
Here are more articles you may enjoy.
Business Interruption Claims Arising From the Middle East Conflict 
Chubb Q1 Net Income Increases 74% on Fewer Catastrophe Losses 
Are ‘Moderate’ Hurricanes Getting Squeezed Out of the Atlantic? 
Oil Trader CFOs Say Hormuz Closure Driving Wave of Disputes 
