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Pekin Insurance restructuring in ‘unprecedented time’

Summary by Ground News
Pekin Insurance announced on Tuesday that it will be making changes to adapt as part of its strategic restructuring plan. The change was due to the challenge of keeping home and property premiums at manageable levels while paying ever-increasing claim amounts during severe and erratic weather. The company will be primarily focusing on commercial and life insurance.

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Pekin Insurance restructuring in ‘unprecedented time’

PEKIN, Ill. (WMBD) -- Pekin Insurance announced on Tuesday that it will be making changes to adapt as part of its strategic restructuring plan. According to a Pekin Insurance news release, it will no longer be accepting new homeowners or personal auto insurance clients in Arizona, Illinois, Indiana, Ohio and Wisconsin. They will also stop renewing home and auto insurance policies in Iowa. The change was due to the challenge of keeping home and p…

·Peoria, United States
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WMBD broke the news in Peoria, United States on Tuesday, October 3, 2023.
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