Showing posts from October, 2023

Pekin Insurance Focusing on Strategic Initiative

  Pekin Insurance • 2505 Court Street • Pekin, Illinois • 61558-0001 • 800-322-0160 October 3, 2023 For Immediate Release Pekin Insurance® Focusing on Strategic Initiative The Property and Casualty insurance industry is experiencing unprecedented times. Severe and erratic weather patterns combined with the impacts of rising inflation earlier this year have challenged the ability to keep home and property premiums at manageable levels while paying ever-increasing claim amounts. To meet these challenges, Pekin Insurance is accelerating a strategic restructuring plan that has a primary focus on Commercial and Life Insurance, where the impacts of current environmental challenges are reduced. Increasing our focus on business insurance will significantly impact our long-term success. As we put our strategies in place, it is necessary for us to reduce our exposure to personal insurance. We will temporarily suspend the acceptance of new homeowners or personal auto business in Arizona, Illinois