Chapter 215 — INSURANCE

(215 ILCS 155/20) (from Ch. 73, par. 1420) Sec. 20. Rules and regulations. The Secretary shall rely upon federal regulations and opinion letters and may adopt rules and regulations as needed to implement and interpret the provisions of this Act. (Source: P.A. 94-893, eff. 6-20-06…

(215 ILCS 155/21) (from Ch. 73, par. 1421) Sec. 21. Regulatory action. (a) The Secretary may refuse to grant, and may suspend or revoke, any certificate of authority, registration, or license issued pursuant to this Act or may impose a fine for a violation of this Act if he deter…

(215 ILCS 155/21.1) Sec. 21.1. Receiver and involuntary liquidation. (a) The Secretary's proceedings under this Section shall be the exclusive remedy and the only proceedings commenced in any court for the dissolution of, the winding up of the affairs of, or the appointment of a …

(215 ILCS 155/21.2) Sec. 21.2. Notice. (a) Notice of any action by the Secretary under this Act or regulations or orders promulgated under it shall be made either personally or by registered or certified mail, return receipt requested, and by sending a copy of the notice by telep…

(215 ILCS 155/21.3) Sec. 21.3. Record retention. Evidence of the examination of title, if any, and determination of insurability for business written by a title insurance company or its title insurance agent and records relating to escrow, closings, and security deposits shall be…

(215 ILCS 155/22) (from Ch. 73, par. 1422) Sec. 22. Tax indemnity; notice. A corporation authorized to do business under this Act shall notify the Director of Revenue of the State of Illinois, by notice directed to his office in the City of Chicago, of each trust account or simil…

(215 ILCS 155/23) (from Ch. 73, par. 1423) Sec. 23. Violation; penalties. (a) Any violation of any of the provisions of this Act and, beginning January 1, 2013, any violation of any of the provisions of Article 3 of the Residential Real Property Disclosure Act shall constitute a …

(215 ILCS 155/24) (from Ch. 73, par. 1424) Sec. 24. Referral fee; penalty. Except as permitted by this Act or by federal law, regulations or opinion letters, no person shall pay or accept, directly or indirectly, any commission, discount, referral fee or other consideration as in…

(215 ILCS 155/24.5) Sec. 24.5. Non-English language transactions. A title insurance company, title insurance agent, or independent escrowee may conduct transactions in a language other than English through an employee or agent acting as interpreter or through an interpreter provi…

(215 ILCS 155/25) (from Ch. 73, par. 1425) Sec. 25. Actual damages; injunctive relief. (a) Any person or persons who violate the prohibitions or limitations of subsection (a) of Section 21 of this Act shall be liable to the person or persons charged for the settlement service inv…

(215 ILCS 155/26) Sec. 26. Settlement funds. (a) A title insurance company, title insurance agent, or independent escrowee shall not make disbursements in connection with any escrows, settlements, or closings out of a fiduciary trust account or accounts unless the funds in the ag…

(215 ILCS 155/3) (from Ch. 73, par. 1403) Sec. 3. As used in this Act, the words and phrases following shall have the following meanings unless the context requires otherwise: (1) "Title insurance business" or "business of title insurance" means: (A) Issuing as insurer or offerin…

(215 ILCS 155/3.1) Sec. 3.1. Public policy. It is declared to be the public policy of this State, pursuant to subsection (h) of Section 6 of Article VII of the Illinois Constitution of 1970, that any power or function set forth in this Act to be exercised by the State is an exclu…

(215 ILCS 155/4) (from Ch. 73, par. 1404) Sec. 4. Deposits. (a) Before doing business in the State of Illinois, a title insurance company must file with and have approved by the Secretary cash or bonds of the United States, this State or any body politic of this State in amounts …

(215 ILCS 155/4.1) Sec. 4.1. Minimum capital and surplus. Before doing business in the State of Illinois, a title insurance company must satisfy the Secretary that it has a minimum capital and surplus of $2,000,000. The Secretary may provide the forms and standards for this purpo…

(215 ILCS 155/5) (from Ch. 73, par. 1405) Sec. 5. Certificate of authority required. It is unlawful for any company to engage or to continue in the business of title insurance without first procuring from the Secretary a certificate of authority stating that the company has compl…

(215 ILCS 155/6) (from Ch. 73, par. 1406) Sec. 6. Reinsurance. (a) A title insurance company may obtain reinsurance for all or any part of its liability under one or more of its title insurance policies or reinsurance agreements and may also reinsure title insurance policies issu…

(215 ILCS 155/7) (from Ch. 73, par. 1407) Sec. 7. Investments. (a) Subject to the specific provisions of this Section, the Secretary may, after a notice and hearing, order a domestic title insurance company to limit or withdraw from certain investments, or discontinue certain inv…

(215 ILCS 155/8) (from Ch. 73, par. 1408) Sec. 8. Retained liability. (a) The net retained liability of a title insurance company for a single risk on property located in this State, whether assumed directly or as reinsurance, may not exceed the total surplus to policyholders as …

(215 ILCS 155/9) (from Ch. 73, par. 1409) Sec. 9. Impairment of capital; discontinuance of issuance of new policies; penalty. (a) Whenever the capital of any title insurance company authorized to do business under this Act is determined by the circuit court, upon the application …

(215 ILCS 156/1) Sec. 1. Short title. This Act may be cited as the Topical Eye Medication Prescription Act. (Source: P.A. 99-226, eff. 1-1-16.)

(215 ILCS 156/5) Sec. 5. Coverage. Every insurer that amends, delivers, issues, or renews an individual or group policy of accident and health insurance in this State that provides coverage for prescription topical eye medication shall not deny coverage for the refilling of a pre…

(215 ILCS 157/1) Sec. 1. Short title. This Act may be cited as the Use of Credit Information in Personal Insurance Act. (Source: P.A. 93-114, eff. 10-1-03.)

(215 ILCS 157/10) Sec. 10. Scope. This Act applies to personal insurance and not to commercial insurance. For purposes of this Act, "personal insurance" means private passenger automobile, homeowners, motorcycle, mobile-homeowners and non-commercial dwelling fire insurance polici…

(215 ILCS 157/15) Sec. 15. Definitions. For the purposes of this Act, these defined words have the following meanings: "Adverse action" means a denial or cancellation of, an increase in any charge for, or a reduction or other adverse or unfavorable change in the terms of coverage…

(215 ILCS 157/20) Sec. 20. Use of credit information. (a) An insurer authorized to do business in this State that uses credit information to underwrite or rate risks shall not: (1) Use an insurance score that is calculated using income, gender, address, ethnic group, religion, ma…

(215 ILCS 157/22) Sec. 22. Extraordinary life events. (a) An insurer authorized to do business in this State that uses credit information to underwrite or rate risks shall review and consider an exception to the risk score based upon extraordinary life events after receiving a wr…

(215 ILCS 157/25) Sec. 25. Dispute resolution and error correction. If it is determined through the dispute resolution process set forth in the federal Fair Credit Reporting Act, 15 U.S.C. 1681i(a)(5), that the credit information of a current insured was incorrect or incomplete a…

(215 ILCS 157/30) Sec. 30. Initial notification. (a) If an insurer writing personal insurance uses credit information in underwriting or rating a consumer, the insurer or its agent shall disclose, either on the insurance application or at the time the insurance application is tak…

(215 ILCS 157/35) Sec. 35. Adverse action notification. If an insurer takes an adverse action based upon credit information, the insurer must meet all of the notice requirements of this Section. The insurer shall: (1) Provide notification to the consumer that an adverse action ha…

(215 ILCS 157/40) Sec. 40. Filing. (a) Insurers that use insurance scores to underwrite and rate risks must file their scoring models (or other scoring processes) with the Department. A third party may file scoring models on behalf of insurers. A filing that includes insurance sc…

(215 ILCS 157/45) Sec. 45. Enforcement; rates not regulated. (a) The Department shall enforce the provisions of this Act pursuant to the enforcement powers granted to it under the Illinois Insurance Code. The Department may promulgate rules necessary to enforce and administer thi…

(215 ILCS 157/5) Sec. 5. Purpose. The purpose of this Act is to regulate the use of credit information for personal insurance so that consumers are afforded certain protections with respect to the use of that information. (Source: P.A. 93-114, eff. 10-1-03.)

(215 ILCS 157/50) Sec. 50. Sale of policy term information by consumer reporting agency. (a) No consumer reporting agency shall provide or sell data or lists that include any information that in whole or in part was submitted in conjunction with an insurance inquiry about a consu…

(215 ILCS 157/55) Sec. 55. Severability. If any Section, paragraph, sentence, clause, phrase, or part of this Act is declared invalid due to an interpretation of or a future change in the federal Fair Credit Reporting Act, the remaining Sections, paragraphs, sentences, clauses, p…

(215 ILCS 157/95) Sec. 95. The Illinois Insurance Code is amended by repealing Section 155.38. (Source: P.A. 93-114, eff. 10-1-03.)

(215 ILCS 157/99) Sec. 99. Effective date. This Act takes effect on October 1, 2003. (Source: P.A. 93-114, eff. 10-1-03.)

(215 ILCS 159/1) Sec. 1. Short title. This Act may be cited as the Viatical Settlements Act of 2009. (Source: P.A. 96-736, eff. 7-1-10.)

(215 ILCS 159/10) Sec. 10. License and bond requirements. (a) A person shall not operate as a viatical settlement provider or viatical settlement broker without first obtaining a license from the chief insurance regulatory official of the state of residence of the viator. A viati…

(215 ILCS 159/100) Sec. 100. Viatical settlement provider application. A viatical settlement provider lawfully transacting business in this State may continue to do so pending approval or disapproval of the provider's application for a license as long as the application is filed …

(215 ILCS 159/105) Sec. 105. Application of this Act. Notwithstanding any other provisions of this Act, nothing in this Act shall apply in the following instances: (i) The purchase of the cash value of a life insurance policy and rights impacting the cash value, including death b…

(215 ILCS 159/11) Sec. 11. Viatical settlement broker training requirements. (a) Viatical settlement broker training shall be required as follows: (1) An individual may not sell, solicit, or negotiate viatical settlement contracts unless the individual is licensed as a life insur…

(215 ILCS 159/15) Sec. 15. License revocation for viatical settlement providers. (a) The Director may refuse to issue or renew or may suspend or revoke the license of any viatical settlement provider if the Director finds any of the following: (1) there was any material misrepres…

(215 ILCS 159/17) Sec. 17. License revocation and denial for viatical settlement brokers. Insurance producers operating as viatical settlement brokers shall be subject to the license denial, nonrenewal, and revocation provisions established by Section 500-70 of the Illinois Insur…

(215 ILCS 159/20) Sec. 20. Approval of viatical settlement contracts and disclosure statements. A person shall not use a viatical settlement contract form or provide to a viator a disclosure statement form in this State unless first filed with and approved by the Director. The Di…

(215 ILCS 159/25) Sec. 25. Reporting requirements and privacy. (a) Each viatical settlement provider shall file with the Director on or before March 1 of each year a copy of its audited annual statement for the immediately preceding year ending December 31. The Director may requi…

(215 ILCS 159/30) Sec. 30. Examination or investigation. (a) The Director may when and as often as the Director deems it reasonably necessary to protect the interests of the public, examine the business affairs of any licensee. In scheduling and determining the nature, scope, and…

(215 ILCS 159/35) Sec. 35. Disclosure to viator. (a) With each application for a viatical settlement contract, a viatical settlement provider or viatical settlement broker shall provide the viator with at least the following disclosures no later than the time the viatical settlem…

(215 ILCS 159/40) Sec. 40. Disclosure to insurer. Prior to the initiation of a plan, transaction, or series of transactions a viatical settlement broker or viatical settlement provider shall fully disclose to an insurer a plan, transaction, or series of transactions to which the …

(215 ILCS 159/45) Sec. 45. General rules. (a) A viatical settlement provider entering into a viatical settlement contract shall first obtain: (1) if the viator is the insured, a written statement from a licensed attending physician that the viator is of sound mind and under no co…