Illinois Bar Journal

Articles on Department of Insurance

New insurance disclosure required

August
2020
Illinois Law Update
Page 14
The Illinois Department of Insurance adopted a new rule requiring the filing of Corporate Governance Annual Disclosures (CGAD) for insurers.

COVID-19 prompts changes to health insurance coverage requirements

July
2020
Illinois Law Update
Page 14
The Department of Insurance adopted a Part titled Temporary Health Coverage Requirements During an Epidemic or Public Health Emergency in response to the COVID-19 pandemic.

Department of Insurance will now utilize audits rather than hearings

June
2020
Illinois Law Update
Page 14
The Department of Insurance has adopted a number of amendments that update general provisions of the Insurance Code.

Health-care providers may only provide medical records minimally necessary under HIPAA

November
2019
Illinois Law Update
Page 14
The Department of Insurance (DOI) adopted an amendment to Workers’ Compensation Electronic and Standardized Paper Billing, implementing Public Act 100-1117.

Lost policy finder service created to ensure life insurance companies respond properly to requests for information

November
2019
Illinois Law Update
Page 14
The Department of Insurance (DOI) adopted a new Part titled Unclaimed Life Insurance Benefits, implementing provisions of the Unclaimed Life Insurance Benefits Act, 215 ILCS 185, that require DOI to establish a Lost Policy Finder Service.

Procedural clarifications made for inland marine and farm mutual insurance companies

September
2019
Illinois Law Update
Page 14
The Department of Insurance has adopted amendments to the Filing Policy and Endorsements Form (50 IAC 753; 43 Ill. Reg. 1463) and Required Procedures for Group Inland Marine Insurance (50 IAC 2302; 43 Ill. Reg. 1476).

Consumer complaint filing requirements aligned with electronic tracking and maintenance

May
2019
Illinois Law Update
Page 14
The Department of Insurance (DOI) adopted amendments to Insurance Department Consumer Complaints (50 Ill. Adm. Code 926), Construction and Filing of Life Insurance and Annuity Forms (50 Ill. Adm. Code 1405), Recognition of the 2001 CSO Mortality Table for Use in Determining Minimum Reserve Liabilities and Nonforfeiture Benefits (50 Ill. Adm. Code 1412), Insurance Oversight Data Collection (50 Ill. Adm. Code 2907), and Summary Document and Disclaimer (50 Ill. Adm. Code 3401), all effective Feb. 25, 2019.

Companies may delegate authority to approve securities transactions

April
2019
Illinois Law Update
Page 14
The Department of Insurance has adopted new amendments applying to internal security standards and fidelity bonds that define companies subject to the rulemaking and amends rules for securities transactions (50 Ill. Adm. Code 904 (effective Jan.11, 2019)).

State standards aligned with the CHIP Reauthorization Act

February
2019
Illinois Law Update
Page 14
The Department of Insurance adopted amendments to the Minimum Standards for Individual and Group Medicare Supplement Insurance (50 Ill. Adm. Code 2008 (effective Nov. 26, 2018)).

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