Illinois Administrative Code

Section 916.40 Filing Procedures a) Certificate of Compliance. Each company doing business in the State of Illinois shall submit with each filing a Certificate of Compliance, as described in Section 916.50 and Exhibit A. b) Forms Review. Each company shall file with the Director …

Section 916.50 Certificate of Compliance a) Each filing shall contain a Certificate of Compliance that the filing complies with all applicable Illinois statutes. The Certificate of Compliance must carry a readable, authentic and visible signature of an officer of the company. b) …

Section 916.60 Effective Date (Repealed) (Source: Repealed at 9 Ill. Reg. 18139, effective February 13, 1986)

Section 916.EXHIBIT A Certificate of Compliance Each company shall submit a "Certificate of Compliance" in substantially this format: CERTIFICATE OF COMPLIANCE (Company Name) By: Title: certifies that the policy forms submitted or referenced in this filing do comply: a) with all …

Section 917.10 Statutory Authority (Repealed) (Source: Repealed at 8 Ill. Reg. 11365, effective August 1, 1984)

Section 917.100 Penalties (Repealed) (Source: Repealed at 8 Ill. Reg. 11365, effective August 1, 1984)

Section 917.110 Severability If any provision of this Rule shall be held invalid, the remainder of the rule shall not be affected thereby.

Section 917.20 Purpose The purpose of this Part is: a) To regulate the activities of insurers and insurance producers with respect to the replacement of existing life insurance or annuities; b) To protect the interests of life insurance and annuity policyowners by establishing mi…

Section 917.30 Definition of Replacement Replacement means any transaction except those exempted by Section 917.50 in which new life insurance or annuity will be purchased, and it is known or should be known to the proposing insurance producer, or to the proposing insurer if ther…

Section 917.40 Other Definitions Buyer's Guide means a document which contains, and is limited to, the language contained in Exhibit A of 50 Ill. Adm. Code 930. Direct-Response Sales means any sale of life insurance or annuity where the insurer does not utilize an insurance produ…

Section 917.50 Exemptions Unless otherwise specifically included, this Part shall not apply to: a) Credit life insurance; b) Group life insurance and group annuities; c) Life insurance policies issued in connection with a pension, profit-sharing or other benefit plan qualifying f…

Section 917.60 Duties of Insurance Producers a) Each insurance producer shall submit to the replacing insurer with or as part of each application for life insurance or annuity: 1) A statement signed by the applicant, as to whether or not such insurance will replace existing life …

Section 917.70 Duties of Replacing Insurers Each insurer shall: a) Require with or as part of each completed application for life insurance or annuity a statement signed by the insurance producer and the applicant as to whether or not such insurance will replace existing life ins…

Section 917.80 Duties of Insurers With Respect to Direct-Response Sales Each insurer shall: a) Require with or as part of each completed application for life insurance a statement signed by the applicant as to whether such insurance will replace existing life insurance; b) Where …

Section 917.90 Duties of the Existing Insurer (Repealed) (Source: Repealed at 8 Ill. Reg. 11365, effective August 1, 1984)

Section 917.EXHIBIT A Notice Regarding Replacement of Life Insurance or Annuity REPLACING YOUR LIFE INSURANCE OR ANNUITY? Are you thinking about buying a new life insurance policy or annuity and discontinuing or changing an existing one? If you are, your decision could be a good …

Section 919.10 Authority This Part is promulgated by the Director of Insurance (Director) pursuant to Sections 154.5, 154.6 and 401 of the Illinois Insurance Code [215 ILCS 5/154.5, 154.6 and 401], Section 10 of the Voluntary Health Services Plans Act [215 ILCS 165/10], Section 2…

Section 919.100 Severability Provision If any provision of this Part or an application thereof to any person or circumstance is held invalid by a court of competent jurisdiction, the other provisions or applications of this Part which can be given effect without the invalid provi…

Section 919.20 Scope and Purpose a) This Part shall apply to all insurance companies authorized to transact in this State the kind or kinds of business described in Section 4, Class 1, Class 2 and Class 3 of the Illinois Insurance Code [215 ILCS 5/4] except fidelity and surety, o…

Section 919.30 Examinations a) Each company's claim files for policies or certificates on Illinois risks are subject to examination and inspection by the Director of Insurance or by his duly appointed designees. Examples of the criteria which may be used to determine the frequenc…

Section 919.40 Definitions/Explanations "Code" means the Illinois Insurance Code [215 ILCS 5]. "Company" means any licensee of the Department of Insurance, including health maintenance organizations. "Days", for the purpose of this Part, means calendar days. "Department" means th…

Section 919.50 Required Practices for all Insurance Companies a) The company shall affirm or deny liability on claims within a reasonable time and shall offer payment within 30 days after affirmation of liability, if the amount of the claim is determined and not in dispute. For t…

Section 919.60 Improper Practices or Procedures for all Insurance Companies a) No company shall indicate to an insured on a payment draft, check or in any accompanying letter that said payment is "final" or "a release" of any claim unless the policy limit has been paid or there i…

Section 919.70 Required Claims Practices – Life, Accident and Health Companies a) Required Practices. 1) Insurance companies shall utilize the following guidelines to search for additional policies or insurance coverages on the life of an insured upon notification of death of the…

Section 919.80 Required Claim Practices – Private Passenger Automobile – Property and Casualty Companies a) All companies shall report vexatious or unreasonable delay findings by a court of law to the Director within 30 days after such findings and enclose with that report a copy…

Section 919.90 Improper Practices or Procedures – Property and Casualty Companies a) A claim shall not be denied on the basis of failure to exhibit property unless there is documentation of breach of the policy provisions in the claim file. b) No company shall make any statement,…

Section 919.EXHIBIT A Total Loss Automobile Claims 1) Total Loss Claims When you are involved in an automobile accident, one of the first things you may have to do is file a claim for damages to your vehicle. If your car is a total loss, this procedure can sometimes be confusing.…

Section 920.10 Scope This Part applies to all life insurance companies and fraternal benefit societies authorized to transact in this State the kind or kinds of business that are described in Class 1(a) of Section 4 of the Code. These rules provide guidance and instructions regar…

Section 920.20 Definitions Unless the context requires otherwise, terms used in this Part have the meanings ascribed in Section 10 of the Act. "Act" means the Unclaimed Life Insurance Benefits Act [215 ILCS 185]. "Affiliate" has the meaning ascribed in Section 131.1(a) of the Cod…

Section 920.30 Insurer Conduct a) Upon a date of death notice of an insured, the date of death notice is deemed to apply to all of the insurer's lines of business. The insurer shall check its records to determine whether the insurer has any other policies, annuity contracts, or r…

Section 920.40 Lost Policy Finder − Insurer Requirements a) Insurers shall register for the Lost Policy Finder service offered by the Department within the later of 30 days after becoming authorized to offer life insurance products in this State or September 1, 2019. b) Each insu…

Section 920.50 Lost Policy Finder − Inactive Insurers Any insurer can request to be made inactive in the Lost Policy Finder System. The request must include certification by the insurer's President, Chief Executive Officer, or Chief Operating Officer that no In-Force policies, an…

Section 920.60 Lost Policy Finder − Requestor Requirements Requestors may submit Lost Policy Finder requests in paper using Illustration A or may use the Department's website (http://insurance.illinois.gov/Applications/LostPolicyFinder/). The Department, in its sole discretion, w…

Section 920.70 Enforcement/Penalties a) Failure of an insurer to meet any requirement of this Part with such frequency as to constitute a general business practice is considered an unfair method of competition and unfair or deceptive practice as defined in Section 424 of the Code…

Section 920.ILLUSTRATION A Illinois Department of Insurance Lost Policy Finder Service Form 320 W. Washington Street Springfield IL 62767 Main Phone 866-445-5364 Local 217-557-6955 TDD 217-524-4872 insurance.illinois.gov Illinois Department of Insurance Lost Policy Finder Service…

Section 921.10 Authority This Rule is promulgated by the Director of Insurance under 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 this State. …

Section 921.20 Scope This Rule shall apply to any insurance company licensed to do business in this State which is transacting the kind or kinds of business described as Class 2 (b) or Class 3 (e) of Section 4 of the Illinois Insurance Code.

Section 921.30 Exclusions On and after June 1, 1972, no automobile insurance policy issued or renewed in this State shall contain a provision excluding a class of persons solely as a consideration of the rate class applied thereto. Furthermore, no company shall include such a pro…

Section 924.10 Authority This Rule is promulgated by the Director of Insurance under Section 401 of the Illinois Insurance Code (Ill. Rev. Stat. 1981, ch. 73 par. 1013) which empowers the Director "...to make reasonable rules and regulations as may be necessary for making effecti…

Section 924.20 Scope This Part shall apply to any insurance company licensed to do business in this State which is transacting the kind or kinds of business described as class 2(b) or class 3(e) of Section 4 of the Illinois Insurance Code (Ill. Rev. Stat. 1981, ch. 73, par. 616),…

Section 924.30 Exclusions a) On or after April 30, 1974, no automobile insurance policy issued or renewed in this State shall contain a provision excluding any item or items of equipment except in the manner herein provided. b) Items of equipment may be excluded only by special e…

Section 924.40 The Endorsement Each endorsement must contain the following information: a) The named insured's signature. b) The date the endorsement was signed by the named insured. c) The policy number. d) Identification of the specific item or items to be excluded from the nam…

Section 924.50 Exception Nothing in this Part shall apply to: a) loss of or damage to any device or instrument designed for the recording, reproduction, receiving, or transmittal of sound, radio waves, microwaves or television signals unless such device or instrument is permanent…

Section 925.10 Authority (Repealed) (Source: Repealed at 27 Ill. Reg. 16121, effective October 6, 2003)

Section 925.100 Notification of Adverse Financial Condition a) The insurer required to furnish the annual audited financial report shall require the independent certified public accountant to report, in writing within 5 business days, to the board of directors or its audit commit…

Section 925.110 Communication of Internal Control Related Matters Noted in an Audit In addition to the annual audited financial report, each insurer shall furnish the Director with a written communication as to any unremediated material weaknesses in its internal control over fin…

Section 925.115 Accountant's Letter of Qualifications (Renumbered) (Source: Section 925.115 renumbered to Section 925.120 at 33 Ill. Reg. 6974, effective May 11, 2009)

Section 925.120 Accountant's Letter of Qualifications The accountant shall furnish the insurer, in connection with, and for inclusion in, the filing of the annual audited financial report, a letter stating that: a) The accountant is independent with respect to the insurer and con…

Section 925.130 Definition, Availability and Maintenance of Independent Certified Public Accountant Workpapers a) Workpapers are the records kept by the independent certified public accountant of the procedures followed, the tests performed, the information obtained, and the conc…

Section 925.140 Requirements for Audit Committees This Section shall not apply to foreign or alien insurers licensed in this State or an insurer that is a SOX Compliant Entity or a direct or indirect wholly-owned subsidiary of a SOX Compliant Entity. a) The audit committee shall …