Illinois Administrative Code

Section 301.10 Authority This Part is promulgated by the Director of the Department of Insurance (Director) under Section 401(a) of the Illinois Insurance Code which empowers the Director to make reasonable rules and regulations as may be necessary for making effective the insura…

Section 301.20 Application and Effective Date This Part applies to all companies organized under Article III of the Illinois Insurance Code and is applicable to any and all debts other than shown as a legal liability of the company. It shall become effective on October 1, 1971. (…

Section 301.30 Approval of Certificate Form by Director Guaranty Fund or Guaranty Capital certificates issued pursuant to Section 56 of the Illinois Insurance Code [215 ILCS 5/56] shall be submitted, in duplicate, for the approval of the Illinois Director of Insurance (Director) …

Section 301.40 Execution of Agreement After submission of the documents specified in Section 301.30 and approval by the Director, the proposed agreement may be executed by the company.

Section 301.50 Consideration The consideration tendered to the company in exchange for the agreement shall be lawful money.

Section 301.60 Reporting and Accounting of Indebtedness a) The Director shall be notified immediately, in writing, upon the execution of any such certificate, as to the amount thereof and to whom payable. b) The company shall furnish a copy of the deposit slip evidencing that the…

Section 301.70 Retirement of Guaranty Fund and Guaranty Capital and Payment of Interest A company may only retire guaranty funds and guaranty capital and make payment of interest on any indebtedness as provided under Section 56 of the Illinois Insurance Code [215 ILCS 5/56]. No p…

Section 401.10 Authority This Part is promulgated by the Director of Insurance under Subsection (a) of Section 401 of the Illinois Insurance Code which empowers the Director to make reasonable rules and regulations as may be necessary for making effective the insurance laws of th…

Section 401.20 Application and Effective Date This Rule applies to all companies organized under Article IV of the Illinois Insurance Code and is applicable to any and all debts other than shown as a legal liability of the company. It shall become effective on October 1, 1971.

Section 401.30 Approval of Certificate Form by Director Guaranty Fund or Guaranty Capital certificates issued pursuant to Section 76 of the Illinois Insurance Code (Ill. Rev. Stat. 1987, ch. 73 par. 688) shall be submitted, in duplicate, for the Director's approval prior to being…

Section 401.40 Execution of Agreement After submission of the documents specified in Section 401.30 and approval by the Director, the proposed agreement may be executed by the company.

Section 401.50 Consideration The consideration tendered to the company in exchange for the agreement shall be lawful money.

Section 401.60 Reporting and Accounting of Indebtedness a) The Director shall be notified immediately, in writing, upon the execution of any such certificate, as to the amount thereof and to whom payable. b) The company shall furnish a copy of the deposit slip evidencing that the…

Section 401.70 Retirement of Guaranty Fund and Guaranty Capital and Payment of Interest a) A company may only retire guaranty funds and guaranty capital and make payment of interest on any indebtedness as provided under Section 76 of the Illinois Insurance Code. No payment shall …

Section 575.100 Applicability Every qualified group workers' compensation pool, as defined in Section 107a.05 of the Illinois Insurance Code, must have homogeneous risk characteristics as provided in Section 107a.08 of the Code and shall be subject to the requirements of this Par…

Section 575.105 Purpose and Scope The purpose of this Part is to establish standards to ensure that members of a group workers' compensation pool possess homogeneous risk characteristics.

Section 575.110 Definitions Administrator shall mean the Service Company that has been issued a license under Section 107a.09 of the Code and has contracted with a group workers' compensation pool to manage the activities of the pool, or, if the pool is self-administered, adminis…

Section 575.112 Evaluation of Membership Scope The Director shall evaluate the membership scope of a pool based on a description of the types of employers eligible for membership in the pool along with the list of NCCI classifications into which the member payrolls can be primari…

Section 575.115 Noncompliance Failure of a pool to meet the requirements of this Part shall subject the pool to penalty provisions of Section 403A of the Code.

Section 575.125 Non-homogeneous Pools and Members Pursuant to Section 107a.15 of the Code, if the Director determines that a pool does not exhibit homogeneous risk characteristics, the Director shall require the pool to eliminate the condition within 90 days after certified notic…

Section 575.400 Pool Membership and Homogeneity For the initial certification, March 1, 2010, and annually each March 1 thereafter, every pool authorized by the Director that is issuing new or renewal pooling agreements shall file with the Director certifications signed by each t…

Section 575.EXHIBIT A Requirements for Certification of Homogeneity and Certification Format Certification by the Trustees a) Each pool must certify its compliance with Section 107a.08(a) and (b) of the Illinois Insurance Code [215 ILCS 5/107a.08(a) and (b)] to the Director by ha…

Section 630.10 Purpose The purpose of this Part is to set forth the procedures for filing, and the required contents of, the Corporate Governance Annual Disclosure (CGAD) deemed necessary by the Director to carry out the provisions of the Corporate Governance Annual Disclosure La…

Section 630.20 Definitions "Act" means the Corporate Governance Annual Disclosure Law [215 ILCS 5/Art. VIII⅓]. "Code" means the Illinois Insurance Code [215 ILCS 5]. "Department" means the Illinois Department of Insurance. "Director" means the Director of the Illinois Department …

Section 630.30 Filing Procedures a) An insurer, or the insurance group of which the insurer is a member, that is required to file a CGAD by the Act shall submit to the Director a CGAD that meets the requirements of the Act and contains the information described in Section 630.40 …

Section 630.40 Contents of Corporate Governance Annual Disclosure a) The CGAD shall describe the insurer's or insurance group's corporate governance framework and structure, including consideration of the following: 1) The Board and its various committees ultimately responsible f…

Section 651.20 Purpose The purpose of this Part is to set forth requirements which the Director deems necessary to carry out the provisions of Section 131.4 through and including Sections 131.12 and 131.24 of the Illinois Insurance Code. The information called for by this Part is…

Section 651.30 Definitions Terms found in this Part other than those defined in this Section have the meanings ascribed in Section 131.1 of the Illinois Insurance Code. Other nomenclature or terminology, if not otherwise defined by the Code, is to be accorded the accepted insuran…

Section 651.40 Acquisition of Control – Form of Statement Filing a) A person required to file a statement pursuant to Sections 131.4, 131.5 and 131.6 of the Code shall furnish the required information in the format designated on Form A, as specified in the instructions of that fo…

Section 651.80 Severability Provision If any Section or portion of a Section of this Part or the applicability of that Section or portion of a Section to any person or circumstance is held invalid by a court, the remainder of the Part or the applicability of the provision to othe…

Section 651.ILLUSTRATION A Statement Regarding the Acquisition of Control of a Domestic Insurer FORM A GENERAL INSTRUCTIONS A. Use of Form A Form A shall be used by an acquiring party required to file a statement with the Director pursuant to Section 131.5 of the Illinois Insuran…

Section 652.10 Purpose The purpose of this Part is to set forth requirements the Director deems necessary to carry out the provisions of Sections 131.13 through 131.19 of the Illinois Insurance Code [215 ILCS 5/131.13 through 131.19]. (Source: Amended at 31 Ill. Reg. 4031, effect…

Section 652.20 Definitions Terms found in this Part, other than those defined in this Section, are used as defined in Section 131.1 of the Insurance Code [215 ILCS 5/131.1]. "Code" means the Illinois Insurance Code [215 ILCS 5]. "Controlling person" means any person, firm, associ…

Section 652.30 Registration of Insurers – Form of Statement Filing a) An insurer required to file a statement pursuant to Section 131.13 of the Code shall furnish the required information in the format and as specified in the instructions contained in Form B, which is Illustratio…

Section 652.40 Summary of Changes to Registration Statement An insurer required to file a statement pursuant to Section 131.13 of the Code shall also file a summary of changes to the registration statement in the format and as specified in Form C, which is Illustration C of this …

Section 652.50 Enterprise Risk Report a) The ultimate controlling person of an insurer required to file an enterprise risk report pursuant to Section 131.14b(a) of the Illinois Insurance Code shall furnish the required information on or before May 1 of each year in the format and…

Section 652.55 Group Capital Calculation a) The Director has the discretion to exempt the ultimate controlling person from filing the annual group capital calculation if the Director, acting as the lead state commissioner, makes a determination that the insurance holding company …

Section 652.60 Severability Provision If any Section or portion of a Section of this Part or the applicability of that Section or portion of a Section to any person or circumstance is held invalid by a court, the remainder of the Part or the applicability of the provision to othe…

Section 652.ILLUSTRATION B Form B − Insurance Holding Company System Registration Statement – Initial, Annual or Amendment FORM B GENERAL INSTRUCTIONS A. Use of Form B Form B shall be used by an insurer required to file a Statement with the Director pursuant to Sections 131.14 an…

Section 653.10 Purpose The purpose of this Part is to set forth requirements the Director deems necessary to carry out the provisions of Section 131.12a of the Illinois Insurance Code. (Source: Amended at 41 Ill. Reg. 7578, effective June 19, 2017)

Section 653.15 Definitions "Code" means the Illinois Insurance Code [215 ILCS 5]. "Department" means the Illinois Department of Insurance. "Director" means the Director of the Illinois Department of Insurance. (Source: Added at 41 Ill. Reg. 7578, effective June 19, 2017)

Section 653.20 Pre-acquisition Notification – Form of Statement Filing a) Any person required to file a statement pursuant to Section 131.12a of the Illinois Insurance Code shall furnish the required information in the format, and as specified in Form CX which is Illustration A o…

Section 653.30 Pre-acquisition Notification – Severability Provision If any Section or portion of a Section of this Part or the applicability of that Section or portion of a Section to any person or circumstance is held invalid by a court, the remainder of the Part or the applica…

Section 653.ILLUSTRATION A Form CX INSTRUCTIONS FOR COMPLETION FORM CX PRE-ACQUISITION NOTIFICATION Filed with the Insurance Department of the State of Illinois. BY (Name of Registrant) On Behalf of the Following Insurance Companies Date: , 20 Name, Title and Address of Officer t…

Section 654.10 Purpose The purpose of this Part is to describe the information that must be provided by a domestic company to notify the Director of certain transactions pursuant to Section 131.20a(1) of the Code. (Source: Amended at 43 Ill. Reg. 373, effective December 21, 2018)

Section 654.20 Definitions Terms found in this Part, other than those defined in this Section, are used as defined in Section 131.1 of the Code. "Code" means the Illinois Insurance Code [215 ILCS 5]. "Department" means the Illinois Department of Insurance. "Director" means the Di…

Section 654.30 Prior Notification of Transactions – Required Information a) Any domestic company required, pursuant to Section 131.20a(1) of the Code, to notify the Director of a transaction between it and any person in its holding company system shall notify the Director of the …