Topic: Illinois Developments

New Illinois Department of Insurance Rules Clarify Use of Life Policy Finder and How ‎Insurers Must Conduct Searches After Receiving a Death Notice

The Illinois Department of Insurance has implemented new rules governing life and annuity ‎insurer conduct upon receipt of a death notice, and for interaction with its Lost Policy Finder ‎service for consumers (50 Ill. Adm. Code 920 et seq.). These rules were drafted in response to ‎requirements in the Illinois Unclaimed Life Insurance Benefits Act, which went into effect in ‎‎2017 in the aftermath of the national controversy related to how some life and annuity carriers ‎were making use of the Social Security Administration’s Death Master File.‎

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Robert Muriel Appointed Director of the Illinois Department of Insurance

Today, Illinois Governor JB Pritzker named Chicago attorney Robert Muriel to serve as Director ‎of the Illinois Department of Insurance, pending confirmation by the Illinois Senate. Muriel is a ‎commercial lawyer with over 20 years of experience in civil and commercial litigation, including ‎insurance coverage and bad faith claims, financial fraud claims, and consumer class actions. ‎

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Privacy & Cybersecurity Newsletter – January 2019

Locke Lord’s Privacy & Cybersecurity Newsletter provides topical snapshots of recent developments in the fast-changing world of privacy, data protection, and cyber risk management. For further information on any of the subjects covered in the newsletter, please contact one of the members of our privacy and cybersecurity team.

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2018 Statewide Elections: A Mixed Bag for Insurers?

All eyes have been focused on the federal mid-term elections and the impact on the U.S. House and Senate. Post-mortems by the pundits have begun. See Locke Lord’s take on the mid-terms. The divided government in Washington, D.C. may well stymie efforts to regulate the insurance industry at the federal level, except in very limited circumstances where bi-partisan accord can be achieved.

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Illinois Governor Issues Amendatory Veto to Insurance Omnibus Legislation

On August 26, 2018, Illinois Governor Bruce Rauner issued an amendatory veto to insurance omnibus legislation, Senate Bill 1737.  The amendatory veto deletes provisions in the bill related to short-term limited-duration health plans and worker’s compensation insurance.  Portions of the bill concerning captive insurance regulation, domestic stock company division and credit for reinsurance remain in the bill.

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