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Resource ID: #18132
Subject: Insurance
Source: Chicago Magazine
Date: 2024-08-29



Chicago Magazine reports on the reasons Illinois's insurance rates are climbing while accidents and car thefts decline. Rates in Illinois rose faster since 1994 than anywhere else in the country. Insurance experts cited the rising costs of car repairs and hospital visits, and an increase in the severity of accidents, not the number of them. Profits that shareholders in insurance companies expect also play a role, Chicago Magazine reported.

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