State of Illinois Property and Casualty Laws.pdf file:///C:/Users/HP/Desktop/New%20folder%20(2)/State%20of%20I
State of Illinois Property and Casualty Laws
1. Powers and Duties of the Director
Answer 1. Approve all policy forms, but cannotapprove or disapprove premium
rates on most types of insurance.
2. Create rules and regulations that support the law.
3. Conduct investigations, examinations and audits to determine if the law has been
violated.
4. Take action to enforce the law, such as, issuing fines, revoke or suspend a licenseor
deny an application for a license.
5. Refer a case to the State Attorney General for criminal prosecution in a court law.
2. The Director of Insurance or a designee can examine (investigate)any of the
following
Answer 1. Any insurance company doing business in Illinois
2. Any person involved in forming an insurance company in Illinois.
3. Any licensed producer, firm, administrator or applicant for an insurance license.
4. Any person adjusting clanims or financing premium.
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,State of Illinois Property and Casualty Laws.pdf file:///C:/Users/HP/Desktop/New%20folder%20(2)/State%20of%20I
3. Examinees may be subpoena
Answer 1. If anyone refuses to be examined or ignoresa subpoena, he or she can be
fined $2,000.
2. Persons being examined have 14 days from the day they receive the report to
request a hearing.
3. The Director must provide a 10 days notice of the time and place of the hearing.
4. The Director will issue a final report of the examination within 90 days of the examor
hearing.
5. Violating a written order can be fined up to $20,000.
4. Cease and Desist Orders
Answer 1.The hearing must be held between 20 and 30 daysfrom the date of the
order.
2. The fine for ignoring a cease and desist order is $100 per day, not to exceed
$5,000.
3. After the cease and desist order has become final and is in effect, any person who
violates it will be fined $1,000 for each violation.
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