Chapter 215 — INSURANCE

(215 ILCS 5/388g) (from Ch. 73, par. 1000g) Sec. 388g. Cancellation restricted. An insurer may not cancel the insurance of an individual member of a group covered by a group vehicle insurance policy except for the non-payment of premium by such member or unless the insurance for …

(215 ILCS 5/388h) Sec. 388h. Opioid antagonists; Liquor Control Act of 1934. An insurer that is licensed and authorized to do business in this State shall consider an applicant's or insured's compliance with Section 6-39 of the Liquor Control Act of 1934 when providing commercial…

(215 ILCS 5/389) (from Ch. 73, par. 1001) Sec. 389. Definition. Fidelity and surety business specified in paragraph (g) of Class 2 of section 4 shall be known as surety business, and the obligations connected therewith as suretyship obligations notwithstanding any other designati…

(215 ILCS 5/39) (from Ch. 73, par. 651) (Section scheduled to be repealed on January 1, 2027) Sec. 39. Authorized kinds of business. (1) Companies may be organized under this Article either for the purpose of transacting any of the kind or kinds of business enumerated in Class 1 …

(215 ILCS 5/390) (from Ch. 73, par. 1002) Sec. 390. Corporate bonds satisfy legal requirement. Whenever a bond, undertaking, recognizance, guaranty or other obligation is required, permitted, authorized or allowed; or whenever the performance of any act, duty or obligation, or fo…

(215 ILCS 5/391) (from Ch. 73, par. 1003) Sec. 391. Trustee may have corporate surety. A party of whom a bond or other undertaking is required or permitted or by law allowed may agree with his sureties for the deposit or safekeeping of any or all moneys, assets and other property…

(215 ILCS 5/392) (from Ch. 73, par. 1004) Sec. 392. Estoppel. Any company which shall execute any bond, recognizance, obligation, stipulation or undertaking as surety shall be estopped, in any proceeding to enforce the liability which it shall have assumed to incur, to deny its p…

(215 ILCS 5/392.1) (from Ch. 73, par. 1004.1) Sec. 392.1. Casualty and surety companies exempted from filing appeal bonds upon proof of liability - Taxable costs. Whenever an appeal is taken from any judgment in any case wherein it appears to the court that all of the particular …

(215 ILCS 5/393) (from Ch. 73, par. 1005) Sec. 393. Scope of article. This article shall apply to all companies authorized to transact the kind or kinds of business enumerated in Class 3 of Section 4. (Source: Laws 1937, p. 696.)

(215 ILCS 5/393.1) (from Ch. 73, par. 1005.1) Sec. 393.1. Unearned premium reserve. (1) Every insurance company authorized in this State to transact any of the kinds of business described in Class 3 of Section 4 shall maintain an unearned premium reserve on all policies in force …

(215 ILCS 5/393a) (from Ch. 73, par. 1005a) Sec. 393a. Group professional liability insurance defined.) Group professional liability insurance is declared to be that form of liability insurance covering not less than 10 employees of any public school district, nonprofit organizat…

(215 ILCS 5/393b) (from Ch. 73, par. 1005b) Sec. 393b. Group professional liability insurance authorized.) Any insurance company authorized to write group professional liability insurance in this State shall have power to issue group professional liability policies. No policy of …

(215 ILCS 5/393c) (from Ch. 73, par. 1005c) Sec. 393c. "Entire contract" specified.) Each group professional liability insurance policy shall provide that the policy, the application of the employer, or executive officer or trustee of any association, and the individual applicati…

(215 ILCS 5/393d) (from Ch. 73, par. 1005d) Sec. 393d. Certificates required.) Each group professional liability insurance policy shall provide that the insurer will issue to the employer, or to the executive officer or trustee of the association, for delivery to the employee, me…

(215 ILCS 5/393e) (from Ch. 73, par. 1005e) Sec. 393e. New members of group.) Each group professional liability insurance policy shall provide that to the group or class thereof originally insured shall be added from time to time all new employees of the employer, members of the …

(215 ILCS 5/393f) (from Ch. 73, par. 1005f) Sec. 393f. Conversion rights.) Each group professional liability insurance policy shall provide that any member of the group shall have the right to convert his group policy to an individual standard policy of insurance in the same comp…

(215 ILCS 5/393g) (from Ch. 73, par. 1005g) Sec. 393g. Cancellation restricted.) An insurer may not cancel the insurance of an individual member of a group covered by a group professional liability insurance policy except for the non-payment of premium by such member or unless th…

(215 ILCS 5/395) (from Ch. 73, par. 1007) Sec. 395. Reserves for marine and inland marine. In the case of policies of marine or inland navigation or transportation insurance the unearned premium reserve, to be charged as a liability, shall be fifty per centum of the amount of the…

(215 ILCS 5/396) (from Ch. 73, par. 1008) Sec. 396. Loss and loss expense reserves. (1) Every company authorized to transact in this State any of the kinds of business described in Class 3 of Section 4 shall, at all times, maintain reserves in an amount estimated in the aggregate…

(215 ILCS 5/397) (from Ch. 73, par. 1009) Sec. 397. Standard fire policy.) The Director of Insurance shall promulgate such rules and regulations as may be necessary to effect uniformity in all basic policies of fire and lightning insurance issued in this State, to the end that th…

(215 ILCS 5/397.05) (from Ch. 73, par. 1009.05) Sec. 397.05. Standard fire policy; appraisal. When an insured requests an appraisal under a policy of fire and extended coverage insurance, as defined in subsection (b) of Section 143.13, and the insured's full amount of appraised l…

(215 ILCS 5/397.1) (from Ch. 73, par. 1009.1) Sec. 397.1. Certificate regarding payment of taxes and expenses on property sustaining loss. (a) It shall be unlawful for any company transacting insurance business in this State to pay a claim of an insured property owner for loss by…

(215 ILCS 5/399) (from Ch. 73, par. 1011) Sec. 399. Combination policies. Two or more companies authorized to transact business in this State may issue a combination or group form of policy, using a distinctive title therefor, which title shall appear at the head of such policy f…

(215 ILCS 5/4) (from Ch. 73, par. 616) Sec. 4. Classes of insurance. Insurance and insurance business shall be classified as follows: Class 1. Life, Accident and Health. (a) Life. Insurance on the lives of persons and every insurance appertaining thereto or connected therewith an…

(215 ILCS 5/40) (from Ch. 73, par. 652) (Section scheduled to be repealed on January 1, 2027) Sec. 40. Directors or trustees. (1) After the date of incorporation, as determined by Section 48, and until the first meeting of the members, the incorporators shall have the powers and …

(215 ILCS 5/400) (from Ch. 73, par. 1012) Sec. 400. Supplemental or comprehensive contracts. Forms for supplemental contracts or comprehensive contracts whereby the property described may be insured against one or more risks specified in Class 2 or Class 3 of Section 4, in additi…

(215 ILCS 5/400.1) (from Ch. 73, par. 1012.1) Sec. 400.1. Group or master policy-certificate inland marine insurance authorized. (1) Any insurance company authorized to write inland marine insurance in this State may issue group or master policy-certificate inland marine policies…

(215 ILCS 5/401) (from Ch. 73, par. 1013) Sec. 401. General powers of the director. The Director is charged with the rights, powers and duties appertaining to the enforcement and execution of all the insurance laws of this State. He shall have the power (a) to make reasonable rul…

(215 ILCS 5/401.1) (from Ch. 73, par. 1013.1) Sec. 401.1. (1) This Section applies to all companies and persons subject to examination by the Director, or purporting to do insurance business in this State, or in the process of organization with intent to do such business therein,…

(215 ILCS 5/401.3) Sec. 401.3. Advisory council; powers and duties. There is created within the Department an advisory council to review and make recommendations to the Department regarding rules to be adopted with respect to continuing education courses for which the approval of…

(215 ILCS 5/401.5) Sec. 401.5. Investigation of insurance law violations. (a) If the Director of Insurance has cause to believe that a person has engaged in, or is engaging in, an act, activity, or practice that constitutes a business offense, misdemeanor, or felony violation of …

(215 ILCS 5/402) (from Ch. 73, par. 1014) Sec. 402. Examinations, investigations and hearings. (1) All examinations, investigations and hearings provided for by this Code may be conducted either by the Director personally, or by one or more of the actuaries, technical advisors, d…

(215 ILCS 5/403) (from Ch. 73, par. 1015) Sec. 403. Power to subpoena and examine witnesses. (1) In the conduct of any examination, investigation or hearing provided for by this Code, the Director or other officer designated by him or her to conduct the same, shall have power to …

(215 ILCS 5/403A) (from Ch. 73, par. 1015A) Sec. 403A. Violations; Notice of Apparent Liability; Limitation of Forfeiture Liability. (1) Any company or person, agent or broker, officer or director and any other person subject to this Code and as may be defined in Section 2 of thi…

(215 ILCS 5/404) (from Ch. 73, par. 1016) Sec. 404. Office of Director; a public office; destruction or disposal of records, papers, documents, and memoranda. (1)(a) The office of the Director shall be a public office and the records, books, and papers thereof on file therein, ex…

(215 ILCS 5/404.1) (from Ch. 73, par. 1016.1) Sec. 404.1. Safekeeping of deposits. The Director may maintain with a corporation qualified to administer trusts in this State under the Corporate Fiduciary Act for the securities deposited with the Director, a limited agency, custodi…

(215 ILCS 5/405) (from Ch. 73, par. 1017) Sec. 405. Certificates and certified copies as evidence. All certificates issued by the Director in accordance with the provisions of the insurance laws and all copies of documents filed in his office in accordance with the provisions of …

(215 ILCS 5/406) (from Ch. 73, par. 1018) Sec. 406. Annual report. The Director shall report annually, or oftener at the request of the Governor, to the Governor his official transactions, and shall include in such report abstracts of the annual statements of the several companie…

(215 ILCS 5/407) (from Ch. 73, par. 1019) Sec. 407. Court review of orders and decisions. Except as to those orders or decisions of the Director to make good an impairment of capital or surplus or a deficiency in the amount of admitted assets, the provisions of the Administrative…

(215 ILCS 5/407.1) (from Ch. 73, par. 1019.1) Sec. 407.1. The provisions of "The Illinois Administrative Procedure Act", as now or hereafter amended, are hereby expressly adopted and incorporated herein as though a part of this Act, and shall apply to all administrative rules and…

(215 ILCS 5/407.2) (from Ch. 73, par. 1019.2) Sec. 407.2. (1) When any person or company has a license or certificate of authority under this Code and knowingly fails or refuses to comply with a lawful Order of the Director, entered after notice and hearing, within the period of …

(215 ILCS 5/408) (from Ch. 73, par. 1020) Sec. 408. Fees and charges. (1) The Director shall charge, collect and give proper acquittances for the payment of the following fees and charges: (a) For filing all documents submitted for the incorporation or organization or certificati…

(215 ILCS 5/408.1) (from Ch. 73, par. 1020.1) Sec. 408.1. Fee for valuation of life insurance policies. Upon the effective date of this amendatory Act of 1998, all actions to collect life insurance policy valuation fees or to transfer such fees to the General Revenue Fund from an…

(215 ILCS 5/408.2) (from Ch. 73, par. 1020.2) Sec. 408.2. Statistical services. Any public record, or any data obtained by the Department of Insurance, which is subject to public inspection or copying and which is maintained on a computer processible medium, may be furnished in a…

(215 ILCS 5/408.3) (from Ch. 73, par. 1020.3) Sec. 408.3. Insurance Financial Regulation Fund; uses. The monies deposited into the Insurance Financial Regulation Fund shall be used only for (i) payment of the expenses of the Department, including related administrative expenses, …

(215 ILCS 5/408.4) Sec. 408.4. Receipt and use grants. (a) The Department is authorized to accept, receive, and use, for and in behalf of the State, any grant of money given to further the purposes of the insurance laws of this State by the federal government as may be offered un…

(215 ILCS 5/409) (from Ch. 73, par. 1021) Sec. 409. Annual privilege tax payable by companies. (1) As of January 1, 1999 for all health maintenance organization premiums written; as of July 1, 1998 for all premiums written as accident and health business, voluntary health service…

(215 ILCS 5/41) (from Ch. 73, par. 653) (Section scheduled to be repealed on January 1, 2027) Sec. 41. Executive committee. If the by-laws so provide, the board of directors or trustees, by a resolution adopted by a majority of the whole board, may designate three or more of thei…

(215 ILCS 5/410) (from Ch. 73, par. 1022) Sec. 410. Reports and statements for purpose of auditing retaliatory and privilege tax returns. (1) For the purpose of enabling the Director to audit the retaliatory and privilege tax calculation of a company liable for such tax under the…

(215 ILCS 5/412) (from Ch. 73, par. 1024) Sec. 412. Refunds; penalties; collection. (1)(a) Whenever it appears to the satisfaction of the Director that because of some mistake of fact, error in calculation, or erroneous interpretation of a statute of this or any other state, any …