GEICO is set to raise auto insurance rates in Illinois by more than 6% on average – one of its highest rate increases in the state in the last six years.
It was noted that GEICO had also attempted to raise rates in Connecticut, but the plan fell through. Speaking to local news station WTTW News, Crain’s Chicago Business reporter Danny Ecker explained that other states have insurance regulatory bodies that can reject insurers’ rate increases.
