215 ILCS 5/132.5
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article IX - Provisions Applicable To All Companies

 (from Ch. 73, par. 744.5)Sec. 132.5. Examination reports.(a) General description. All examination reports shall be comprised of  only facts appearing upon the books, records, or other documents of the  company, its agents, or other persons examined or as ascertained from the  testimony of its officers, agents, or other persons examined concerning its  affairs and the conclusions and recommendations as the examiners find  reasonably warranted from those facts.(b) Filing of examination report. No later than 60 days following  completion of the examination, the examiner in charge shall file with the  Department a verified written report of examination under oath. Upon  receipt of the verified report, the Department shall transmit the report to  the company examined, together with a notice that affords the company examined  a reasonable opportunity of not more than 30 days to make a written  submission or rebuttal with respect to any matters contained in the examination report.(c) Adoption of the report on examination.  Within 30 days of the end of the  period allowed for the receipt of written submissions or rebuttals, the  Director shall fully consider and review the report, together with any  written submissions or rebuttals and any relevant portions of the examiners  work papers and enter an order:(1) Adopting the examination report as filed or with     modification or corrections. If the examination report reveals that the company is operating in violation of any law, regulation, or prior order of the Director, the Director may order the company to take any action the Director considers necessary and appropriate to cure the violation.(2) Rejecting the examination report with directions     to the examiners to reopen the examination for purposes of obtaining additional data, documentation, or information and refiling under subsection (b).(3) Calling for an investigatory hearing with no less     than 20 days notice to the company for purposes of obtaining additional documentation, data, information, and testimony.(d) Order and procedures. All orders entered under paragraph (1) of  subsection (c) shall be accompanied by findings and conclusions resulting  from the Director's consideration and review of the examination report,  relevant examiner work papers, and any written submissions or rebuttals.  The order shall be considered a final administrative decision and may be  appealed in accordance with the Administrative Review Law. The order shall  be served upon the company by certified mail, together with a copy of the  adopted examination report. Within 30 days of the issuance of the adopted  report, the company shall file affidavits executed by each of its directors  stating under oath that they have received a copy of the adopted report and  related orders.Any hearing conducted under paragraph (3) of subsection (c) by the  Director or an authorized representative shall be conducted as a  nonadversarial confidential investigatory proceeding as necessary for the  resolution of any inconsistencies, discrepancies, or disputed issues  apparent upon the face of the filed examination report or raised by or as a  result of the Director's review of relevant work papers or by the written  submission or rebuttal of the company.  Within 20 days of the conclusion of any hearing, the Director shall enter  an order under paragraph (1) of subsection (c).The Director shall not appoint an examiner as an authorized  representative to conduct the hearing. The hearing shall proceed  expeditiously with discovery by the company limited to the examiner's work  papers that tend to substantiate any assertions set forth in any written  submission or rebuttal. The Director or his representative may issue  subpoenas for the attendance of any witnesses or the production of any  documents deemed relevant to the investigation, whether under the control  of the Department, the company, or other persons. The documents produced  shall be included in the record, and testimony taken by the Director or his  representative shall be under oath and preserved for the record. Nothing  contained in this Section shall require the Department to disclose any  information or records that would indicate or show the existence or content  of any investigation or activity of a criminal justice agency.The hearing shall proceed with the Director or his representative  posing questions to the persons subpoenaed. Thereafter the company and the  Department may present testimony relevant to the investigation.  Cross-examination shall be conducted only by the Director or his representative.  The company and the Department shall be permitted to make closing  statements and may be represented by counsel of their choice.(e) Publication and use.  Upon the adoption of the examination report  under paragraph (1) of subsection (c), the Director shall continue to hold  the content of the examination report as private and confidential  information for a period of 35 days, except to the extent provided in  subsection (b). Thereafter, the Director may open the report for public  inspection so long as no court of competent jurisdiction has stayed its publication.Nothing contained in this Code shall prevent or be construed as  prohibiting the Director from disclosing the content of an examination  report, preliminary examination report or results, or any matter relating  thereto, to the insurance department of any other state or country or to law  enforcement officials of this or any other state or agency of the federal  government at any time, so long as the agency or office receiving the  report or matters relating thereto agrees in writing to hold it  confidential and in a manner consistent with this Code.In the event the Director determines that regulatory action is  appropriate as a result of any examination, he may initiate any  proceedings or actions as provided by law.(f) Confidentiality of ancillary information.  All working papers,  recorded information, documents, and copies  thereof produced by, obtained by, or disclosed to the Director or any other  person in the course of any examination must be given confidential  treatment, are not subject to subpoena, and may not be made public by the  Director or any other persons, except to the extent provided in subsection  (e). Access may also be granted to the National Association of Insurance Commissioners.  Those parties must agree in writing before receiving the information to  provide to it the same confidential treatment as required by this Section,  unless the prior written consent of the company to which it pertains has been obtained.This subsection (f) applies to market conduct examinations described in Section 132 of this Code. (Source: P.A. 100-475, eff. 1-1-18.)