Insurance

Bloomington-based Country Financial, one of McLean County’s largest employers, announced the leadership changes on Wednesday morning. CEO Jim Jacobs plans to retire on June 30 after 21 years with the company.

Many State Farm agents said they feel angry and betrayed by the Bloomington-based company.

The Illinois legislature has passed rate-increase regulations for both home and auto insurance, though critics argue the changes fail to address the root cause of rate increases and could backfire by raising costs and reducing options for coverage.

State Farm has told its 19,000 agents it is changing its compensation and benefits contract for them. The Bloomington-based company is also cutting benefits for retired agents.

The Community Health Care Clinic in Normal has seen a big increase in need over the last nine months.

The Illinois House has passed a bill requiring insurance companies get approval for rate increases and give a 60-day notice to customers if they increase rates more than 10%. Insurance companies said this could raise rates in the long term and does not address the real cause of the rate increases.

Bloomington state Rep. Sharon Chung has introduced a insurance bill that invites conversation and compromise between insurance companies and the state.

Bloomington-Normal leaders are calling for better dialogue between lawmakers, Gov. JB Pritzker, and insurance companies such as Bloomington-based State Farm.

State Rep. Sharon Chung helped defeat a bill that would have allowed the state to regulate homeowners insurance rates.

The Illinois House rejected a bill that would have given the state Department of Insurance authority to regulate homeowners’ insurance rates.