Illinois Administrative Code

Section 925.145 Penalties (Renumbered) (Source: Section 925.145 renumbered to Section 925.190 at 33 Ill. Reg. 6974, effective May 11, 2009)

Section 925.150 Conduct of Insurer in Connection with the Preparation of Required Reports and Documents a) No director or officer of an insurer shall, directly or indirectly: 1) Make or cause to be made a materially false or misleading statement to an accountant in connection wit…

Section 925.160 Management's Report of Internal Control over Financial Reporting a) Every insurer required to file an audited financial report pursuant to this Part that has annual direct written and assumed premiums, excluding premiums reinsured with the Federal Crop Insurance C…

Section 925.170 Exemptions and Effective Dates a) Upon written application of any domestic insurer, the Director may grant an exemption from compliance with any and all provisions of this Part if the Director finds, upon review of the application, that compliance with this Part w…

Section 925.180 Canadian and British Companies a) In the case of Canadian and British insurers, the annual audited financial report shall be defined as the annual statement of total business on the form filed by those companies with their supervision authority, duly audited by an…

Section 925.190 Penalties Failure of a company to meet any provisions of this Part shall subject the company to penalty provisions of Sections 139 and 403A of the Code, or other such action as the Director may deem necessary. (Source: Section 925.190 renumbered from Section 925.1…

Section 925.20 Purpose and Scope a) The purpose of this Part is to improve the Director's surveillance of the financial condition of insurers by requiring: 1) An annual audit of financial statements reporting the financial position and the results of operations of insurers by ind…

Section 925.200 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 oth…

Section 925.30 Definitions "Accountant" or "independent certified public accountant" means an independent certified public accountant or independent accounting firm in good standing with the American Institute of Certified Public Accountants (AICPA) and all states in which the ac…

Section 925.40 General Requirements Related to Filing and Extensions for Filing of Annual Audited Financial Report and Audit Committee Appointment a) All insurers shall have an annual audit performed by an independent certified public accountant and shall file an annual audited f…

Section 925.50 Contents of Annual Audited Financial Report a) The annual audited financial report shall report the financial position of the insurer as of the end of the most recent calendar year and the results of its operations, cash flows and changes in capital and surplus for…

Section 925.60 Designation of Independent Certified Public Accountant a) Each insurer required by this Part to file an annual audited financial report must, within 60 days after becoming subject to such requirement, register with the Director in writing the name and address of th…

Section 925.70 Qualifications of Independent Certified Public Accountant a) The Director shall not recognize any person or firm as a qualified independent certified public accountant if the person or firm: 1) Is not in good standing with the AICPA and in all states in which the a…

Section 925.80 Consolidated or Combined Audits a) An insurer may make written application to the Director for approval to file a consolidated or combined annual audited financial report in lieu of separate annual audited financial reports if the insurer is part of a group of insu…

Section 925.90 Scope of Audit and Report of Independent Certified Public Accountant a) Financial statements furnished pursuant to Section 925.50 of this Part shall be examined by an independent certified public accountant. The audit of the insurer's financial statements shall be …

Section 925.EXHIBIT A CPA Letter of Representation Upon completion of the review by the Department's examiners, the accountant shall submit a CPA Letter of Representation in this format. CPA LETTER OF REPRESENTATION Date: ______________ Attention: Illinois Department of Insurance…

Section 926.10 Authority (Repealed) (Source: Repealed at 43 Ill. Reg. 3246, effective February 25, 2019)

Section 926.20 Purpose and Scope a) The purpose of this Part is to establish guidelines for the handling of complaints received by the Department of Insurance against insurers, insurance producers or any other entity or individual licensed, registered, certified, or granted a Cer…

Section 926.30 Definitions "Code" means the Illinois Insurance Code [215 ILCS 5]. "Complaint" means any written communication primarily expressing a grievance. "Department" means the Illinois Department of Insurance. (Source: Amended at 43 Ill. Reg. 3246, effective February 25, 2…

Section 926.40 Complaint Handling Procedure a) Notification and Response Requirements When the Department receives a complaint against an entity or individual identified in Section 926.20 (respondent), and the Department determines that the complaint falls under its authority to …

Section 926.50 Maintenance of Complaint Records Insurance companies to which this Part applies shall maintain records containing the minimum information as outlined in Exhibit A and as defined in Exhibit B of this Part. The complaint record shall be kept on a calendar year basis …

Section 926.60 Severability Provision (Repealed) (Source: Repealed at 23 Ill. Reg. 5695, effective May 3, 1999)

Section 926.70 Effective Date (Repealed) (Source: Repealed at 23 Ill. Reg. 5695, effective May 3, 1999)

Section 926.EXHIBIT B Explanation Column A. Identification Number. As noted, this refers to the identification number of the complaint. B. Reason Code. Complaints are to be classified by the nature of the complaint within one of the involved company's functions of underwriting, m…

Section 928.10 Authority This Part is promulgated by the Director of the Department of Insurance under Section 401 of the Illinois Insurance Code [215 ILCS 5/401], which empowers the Director to make reasonable rules and regulations as may be necessary for making effective the in…

Section 928.20 Purpose and Scope a) This Part establishes a uniform format for the reporting of information relating to allegations of provider liability. Individual liability data records filed by insurers pursuant to this Part will be held confidential by the Department, to the…

Section 928.30 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. "Insurance Claim" means a formal or written demand for compensation un…

Section 928.40 Reports a) All insurance claims and all lawsuits shall be reported electronically to the Director by the insurer and contain the information set forth in Exhibit B of this Part. b) All insurance claims closed and all lawsuits closed that were previously reported pu…

Section 928.42 Circuit Court Clerk Reporting Requirements (Repealed) (Source: Repealed at 36 Ill. Reg. 18677, effective December 17, 2012)

Section 928.43 Supplement A to Schedule T Reconciliation a) To ensure completeness of the data reported by insurers, medical professional liability losses and claim counts shall be reconciled for claims using NAIC Annual Statement Exhibit of Supplement A to Schedule T as seen in …

Section 928.44 General Submission Deadlines a) Data Submission Reports are due on a quarterly basis no later than 45 days after the quarter's end. The reports shall be submitted electronically to the Illinois Department of Insurance through the following website: http://insurance…

Section 928.50 Effective Date (Repealed) (Source: Repealed at 24 Ill. Reg. 19133, effective January 1, 2001)

Section 928.EXHIBIT B Illinois Medical Professional Liability Insurance Uniform Claims Report – Reporting Instructions As required by Section 155.19 of the Insurance Code [215 ILCS 5/155.19] and 50 Ill. Adm. Code 928: 1. File all opened, closed, re-opened, and re-closed medical p…

Section 929.10 Authority This Part is promulgated by the Director of the Department of Insurance under Section 401 of the Illinois Insurance Code [215 ILCS 5/401] that empowers the Director to make reasonable rules and regulations as may be necessary for making effective the insu…

Section 929.15 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. "SERFF" means the National Association of Insurance Commissioners' web…

Section 929.20 Purpose and Scope The purpose of this Part is to implement Section 155.18 of the Illinois Insurance Code. This Part shall apply to all insurance on risks based upon negligence by a physician, hospital or other health care provider, referred to in the Code and this …

Section 929.200 Applicability (Repealed)

Section 929.210 Form of Documents (Repealed) (Source: Repealed at 39 Ill. Reg. 392, effective December 19, 2014)

Section 929.220 Filing (Repealed) (Source: Repealed at 39 Ill. Reg. 392, effective December 19, 2014)

Section 929.230 Computation of Time (Repealed) (Source: Repealed at 39 Ill. Reg. 392, effective December 19, 2014)

Section 929.240 Appearances (Repealed) (Source: Repealed at 39 Ill. Reg. 392, effective December 19, 2014)

Section 929.250 Notice of Hearing (Repealed) (Source: Repealed at 39 Ill. Reg. 392, effective December 19, 2014)

Section 929.260 Publication of the Notice of Hearing (Repealed) (Source: Repealed at 39 Ill. Reg. 392, effective December 19, 2014)

Section 929.270 Bias or Disqualification of Hearing Officer (Repealed) (Source: Repealed at 39 Ill. Reg. 392, effective December 19, 2014)

Section 929.280 Pre-hearing Conferences (Repealed) (Source: Repealed at 39 Ill. Reg. 392, effective December 19, 2014)

Section 929.290 Conduct of the Hearing (Repealed) (Source: Repealed at 39 Ill. Reg. 392, effective December 19, 2014) (Source: Repealed at 39 Ill. Reg. 392, effective December 19, 2014)

Section 929.30 Filing Requirements a) All companies writing medical liability insurance are subject to this Section. Each company must file with the Director, in a manner prescribed in this Section, under its own name. b) Rates – A company must file on its own behalf all rates fo…