The Illinois Department of Insurance (“DOI”) has issued a notice of withdrawal of its proposed amendments to the Illinois Insurance Department Consumer Complaints Rule (50 Ill. Adm. Code 926) that were described in our January 9, 2017 blog post.
Read MoreThe Illinois Department of Insurance recently adopted amendments to three parts of the insurance holding company systems regulations (50 Ill. Adm. Code 651, 653, 655).
Read MoreThe Illinois Department of Insurance has issued a Notice of Proposed Repealer of the Reinsurance Ceded Contracts regulation (50 Ill. Adm. Code Part 1101). The regulation requires all insurance companies to submit a certified copy of a reinsurance ceded contract upon written request of the Director of Insurance.
Read MoreSeveral insurance related bills are currently pending in the Illinois General Assembly. A Senate passage deadline has been extended to May 5, 2017 for a bill requiring diversity reporting by insurers (Senate Bill 809) and a bill banning the use of credit information to calculate personal automobile insurance premiums (Senate Bill 1706).
Read MoreAn amendment to Illinois Senate Bill 809 proposes to add a new section to the Illinois Insurance Code (215 Ill. Comp. Stat. 5/155.46) requiring insurance companies to submit supplier diversity reports. SB 809 is assigned to the Senate Insurance Committee.
Read MoreThe Illinois Department of Insurance (“DOI”) has issued a notice of proposed amendments to the Insurance Department Consumer Complaints Rule ( 50 Ill. Adm. Code 926).
Read MoreThe Illinois Department of Insurance (“DOI”) has issued a notice of proposed rules to create 50 Ill. Adm. Code 941 regarding misrepresentations and false warranties. A previous version of the proposed rule was proposed in December of 2014 and withdrawn in October 2015.
Read MoreIllinois State Treasurer Michael Frerichs has called for statewide hearings to educate the public on how life insurance companies avoid paying death benefits.
Read MoreBased on the policy language before it, the U.S. Court of Appeals for the Seventh Circuit recently found that an insurer has a duty to defend a pharmaceutical distributor in a lawsuit brought by West Virginia’s attorney general alleging that drug distributors contributed to the rise of so-called “pill mills” and, given the massive quantities of drugs ordered, they should have known that the drugs were being used for illicit and destructive purposes.
Read MoreThe Illinois Department of Insurance recently issued a bulletin requiring all companies to obtain independent third party background investigation/verification reports from nationally recognized vendors.
Read More
