Chapter 215, INSURANCE

(215 ILCS 5/512-2) (from Ch. 73, par. 1065.59-2) Sec. 512-2. Purpose. It is hereby determined and declared that the purpose of this Article is to regulate certain practices engaged in by third-party prescription program administrators. (Source: P.A. 82-1005.)

(215 ILCS 5/512-3) (from Ch. 73, par. 1065.59-3) Sec. 512-3. Definitions. For the purposes of this Article, unless the context otherwise requires, the terms defined in this Article have the meanings ascribed to them herein: "Health care payer" means an insurance company, health m…

(215 ILCS 5/512-4) (from Ch. 73, par. 1065.59-4) Sec. 512-4. Registration. All third party prescription programs and administrators doing business in the State shall register with the Director of Insurance. The Director shall promulgate regulations establishing criteria for regis…

(215 ILCS 5/512-5) (from Ch. 73, par. 1065.59-5) Sec. 512-5. Fiduciary and Bonding Requirements. A third party prescription program administrator shall (1) establish and maintain a fiduciary account, separate and apart from any and all other accounts, for the receipt and disburse…

(215 ILCS 5/512-6) (from Ch. 73, par. 1065.59-6) Sec. 512-6. Notice. Notice of any change in the terms of a third party prescription program, including but not limited to drugs covered, reimbursement rates, co-payments, and dosage quantity, shall be given to each enrolled pharmac…

(215 ILCS 5/512-7) (from Ch. 73, par. 1065.59-7) Sec. 512-7. Contractual provisions. (a) Any agreement or contract entered into in this State between the administrator of a program and a pharmacy shall include a statement of the method and amount of reimbursement to the pharmacy …

(215 ILCS 5/512-8) (from Ch. 73, par. 1065.59-8) Sec. 512-8. Cancellation procedures. (a) The administrator of a program shall notify all pharmacies enrolled in the program of any cancellation of the coverage of benefits of any group enrolled in the program at least 30 days prior…

(215 ILCS 5/512-9) (from Ch. 73, par. 1065.59-9) Sec. 512-9. Denial of Payment. (a) No administrator shall deny payment to any pharmacy for covered pharmaceutical services or prescription drug products rendered as a result of the misuse, fraudulent or illegal use of an identifica…

(215 ILCS 5/531.01) (from Ch. 73, par. 1065.80-1) Sec. 531.01. Title.) This Article is known and may be cited as the Illinois Life and Health Insurance Guaranty Association Law. (Source: P.A. 81-899.)

(215 ILCS 5/531.01a) (from Ch. 73, par. 1065.80-1a) Sec. 531.01a. Existing Liability. Any liabilities of the Association for any member company which was an insolvent insurer as defined by this Article prior to January 1, 1986 shall be determined under the law which was in effect…

(215 ILCS 5/531.02) (from Ch. 73, par. 1065.80-2) Sec. 531.02. Purpose. The purpose of this Article is to protect, subject to certain limitations, the persons specified in paragraph (1) of Section 531.03 against failure in the performance of contractual obligations, under life, h…

(215 ILCS 5/531.03) (from Ch. 73, par. 1065.80-3) Sec. 531.03. Coverage and limitations. (1) This Article shall provide coverage for the policies and contracts specified in subsection (2) of this Section: (a) to persons who, regardless of where they reside (except for non-residen…

(215 ILCS 5/531.04) (from Ch. 73, par. 1065.80-4) Sec. 531.04. Construction. This Article shall be construed to effect the purpose under Section 531.02. (Source: P.A. 96-1450, eff. 8-20-10.)

(215 ILCS 5/531.05) (from Ch. 73, par. 1065.80-5) Sec. 531.05. Definitions. As used in this Act: "Account" means either of the 2 accounts created under Section 531.06. "Association" means the Illinois Life and Health Insurance Guaranty Association created under Section 531.06. "A…

(215 ILCS 5/531.06) (from Ch. 73, par. 1065.80-6) Sec. 531.06. Creation of the Association. There is created a non-profit legal entity to be known as the Illinois Life and Health Insurance Guaranty Association. All member insurers are and must remain members of the Association as…

(215 ILCS 5/531.07) (from Ch. 73, par. 1065.80-7) Sec. 531.07. Board of Directors.) The board of directors of the Association consists of not less than 7 nor more than 11 members serving terms as established in the plan of operation. The insurer members of the board are to be sel…

(215 ILCS 5/531.08) (from Ch. 73, par. 1065.80-8) Sec. 531.08. Powers and duties of the Association. (a) In addition to the powers and duties enumerated in other Sections of this Article: (1) If a member insurer is an impaired insurer, then the Association may, in its discretion …

(215 ILCS 5/531.09) (from Ch. 73, par. 1065.80-9) Sec. 531.09. Assessments. (1) For the purpose of providing the funds necessary to carry out the powers and duties of the Association, the board of directors shall assess the member insurers, separately for each account, at such ti…

(215 ILCS 5/531.10) (from Ch. 73, par. 1065.80-10) Sec. 531.10. Plan of operation. (1)(a) The Association must submit to the Director a plan of operation and any amendments thereto necessary or suitable to assure the fair, reasonable, and equitable administration of the Associati…

(215 ILCS 5/531.11) (from Ch. 73, par. 1065.80-11) Sec. 531.11. Duties and powers of the Director. In addition to the duties and powers enumerated elsewhere in this Article: (1) The Director must do all of the following: (a) Upon request of the board of directors, provide the Ass…

(215 ILCS 5/531.12) (from Ch. 73, par. 1065.80-12) Sec. 531.12. Prevention of Insolvencies. To aid in the detection and prevention of member insurer insolvencies or impairments: (1) It shall be the duty of the Director: (a) To notify the Commissioners of all other states, territo…

(215 ILCS 5/531.13) (from Ch. 73, par. 1065.80-13) Sec. 531.13. Tax offset. In the event the aggregate Class A, B and C assessments for all member insurers do not exceed $3,000,000 in any one calendar year, no member insurer shall receive a tax offset. However, for any one calend…

(215 ILCS 5/531.14) (from Ch. 73, par. 1065.80-14) Sec. 531.14. Miscellaneous provisions. (1) Nothing in this Article may be construed to reduce the liability for unpaid assessments of the insured of an impaired or insolvent insurer operating under a plan with assessment liabilit…

(215 ILCS 5/531.15) (from Ch. 73, par. 1065.80-15) Sec. 531.15. Examination of the Association - Annual Report. The Association shall be subject to examination and regulation by the Director. The board of directors must submit to the Director, not later than the first day of the …

(215 ILCS 5/531.16) (from Ch. 73, par. 1065.80-16) Sec. 531.16. Tax Exemptions.) The Association is exempt from payment of all fees and all taxes levied by this State or any of its subdivisions, except taxes levied on real property. (Source: P.A. 81-899.)

(215 ILCS 5/531.17) (from Ch. 73, par. 1065.80-17) Sec. 531.17. Immunity.) There is no liability on the part of and no cause of action of any nature may arise against any member insurer or its agents or employees, the Association or its agents or employees, members of the board o…

(215 ILCS 5/531.18) (from Ch. 73, par. 1065.80-18) Sec. 531.18. Stay of Proceedings - Reopening Default Judgments.) All proceedings in which the insolvent insurer is a party in any court in this State shall be stayed 180 days from the date an order of liquidation, rehabilitation,…

(215 ILCS 5/531.19) (from Ch. 73, par. 1065.80-19) Sec. 531.19. Prohibited advertisement of action of the Insurance Guaranty Association in sale of insurance. (a) No person, including a member insurer, agent or affiliate of a member insurer shall make, publish, disseminate, circu…

(215 ILCS 5/531.20) Sec. 531.20. Merger of Illinois Health Maintenance Organization Guaranty Association with and into the Illinois Life and Health Insurance Guaranty Association. In order to provide for the merger of the Illinois Health Maintenance Organization Guaranty Associat…

(215 ILCS 5/60a) (from Ch. 73, par. 672a) Sec. 60a. Alien companies; Illinois State of entry. (1) An alien company may use Illinois as a state of entry to transact insurance in the United States by obtaining a certificate of authority pursuant to Section 111 and maintaining in th…

(215 ILCS 5/60b) (from Ch. 73, par. 672b) Sec. 60b. Alien companies; Illinois trusteed assets. (1) An alien company may not use Illinois as a state of entry to transact insurance in the United States unless it maintains in this State a deposit of assets in trust for the benefit o…

(215 ILCS 5/60c) (from Ch. 73, par. 672c) Sec. 60c. Requirements and contents of trust agreement. Trust agreements governing Trusteed Assets required by Section 60b shall satisfy the following conditions: (1) Legal title to the Trusteed Assets shall be vested in the trustee or tr…

(215 ILCS 5/60d) (from Ch. 73, par. 672d) Sec. 60d. Withdrawal of Trusteed Assets. (1) The trust agreement shall provide that no withdrawals of Trusteed Assets shall be made by the alien company or permitted by the trustee or trustees without the prior approval of the Director, e…

(215 ILCS 5/60e) (from Ch. 73, par. 672e) Sec. 60e. Domestication of Alien Company; definitions. As used in Sections 60e through 60i: (1) "Domestication" means the reorganization of the United States branch of an alien company as the result of which a domestic company shall succe…

(215 ILCS 5/60f) (from Ch. 73, par. 672f) Sec. 60f. Domestication procedure. (1) Upon compliance with Sections 60e through 60i, any alien company authorized to do business in this State may, with the prior written approval of the Director, domesticate its United States branch by …

(215 ILCS 5/60g) (from Ch. 73, par. 672g) Sec. 60g. Domestication agreement; authorization; execution. (1) The domestication agreement referred to in Section 60f shall be authorized, adopted, approved, signed, and acknowledged by the alien company in accordance with the laws of t…

(215 ILCS 5/60h) (from Ch. 73, par. 672h) Sec. 60h. Director's approval of domestication agreement. An executed counterpart of the domestication agreement, together with certified copies of the corporate proceedings of the domestic company and the alien company, approving, adopti…

(215 ILCS 5/60i) (from Ch. 73, par. 672i) Sec. 60i. Consummation of domestication; transfer of assets and deposits. (1) Upon the filing with the Director of a certified copy of the instrument of transfer and assumption pursuant to which a domestic company succeeds to the business…

(215 ILCS 5/60j) (from Ch. 73, par. 672j) Sec. 60j. Trustees of alien companies. (1) The directors of an alien company may appoint citizens or corporations of the United States as its trustees to hold funds and assets in trust for the benefit of the policyholders and creditors of…

(215 ILCS 5/129) Sec. 129. Short title. This Article may be cited as the Risk Management and Own Risk and Solvency Assessment Law. (Source: P.A. 98-910, eff. 7-1-15.)

(215 ILCS 5/129.1) Sec. 129.1. Purpose and scope. The purpose of this Article is to provide the requirements for maintaining a risk management framework and completing an own risk and solvency assessment (ORSA) and provide guidance and instructions for filing an ORSA summary repo…

(215 ILCS 5/129.2) Sec. 129.2. Definitions. In this Article: "Insurance group", for the purpose of conducting an ORSA, means those insurers and affiliates included within an insurance holding company system as defined in Section 131.1 of this Code. "Insurer" has the same meaning …

(215 ILCS 5/129.3) Sec. 129.3. Risk management framework. An insurer shall maintain a risk management framework to assist the insurer with identifying, assessing, monitoring, managing, and reporting on its material and relevant risks. The requirement of this Section may be satisf…

(215 ILCS 5/129.4) Sec. 129.4. ORSA requirement. Subject to Section 129.7 of this Code, an insurer, or the insurance group of which the insurer is a member, shall regularly conduct an ORSA consistent with a process comparable to the ORSA Guidance Manual. The ORSA shall be conduct…

(215 ILCS 5/129.5) Sec. 129.5. ORSA summary report. (a) Upon the Director's request, and no more than once each year, an insurer shall submit to the Director an ORSA summary report or any combination of reports that together contain the information described in the ORSA Guidance …

(215 ILCS 5/129.6) Sec. 129.6. Contents of ORSA summary report. (a) The ORSA summary report shall be prepared consistent with the ORSA Guidance Manual, subject to the requirements of subsection (b) of this Section. Documentation and supporting information shall be maintained and …

(215 ILCS 5/129.7) Sec. 129.7. Exemption. (a) An insurer shall be exempt from the requirements of this Article if: (1) the insurer has annual direct written and unaffiliated assumed premium, including international direct and assumed premium, but excluding premiums reinsured with…

(215 ILCS 5/129.8) Sec. 129.8. Confidentiality. (a) Documents, materials, or other information, including the ORSA summary report, in the possession or control of the Department that are obtained by, created by, or disclosed to the Director or any other person under this Article,…

(215 ILCS 5/129.9) Sec. 129.9. Sanctions. Any insurer failing, without just cause, to timely file the ORSA summary report as required in this Article shall be required, after notice and hearing, to pay a penalty of $200 for each day's delay, to be recovered by the Director, and t…

(215 ILCS 5/511.100) (from Ch. 73, par. 1065.58-100) (Section scheduled to be repealed on January 1, 2037) Sec. 511.100. Purpose. The purpose of this Article is to recognize and provide reasonable public supervision and licensing of persons who provide administrative services in …