reglab/statecodes huggingface dataset:
Illinois Administrative Code › Title 50 - INSURANCE › Part 3701 - VIATICAL SETTLEMENT PROVIDER AND BROKER REQUIREMENTS › Section 3701.70 - Prohibited Practices

Current through Register Vol. 48, No. 28, July 12, 2024
a) A
			 viatical settlement provider, viatical settlement broker (or viatical
			 settlement investment agent) shall obtain from a person that is provided with
			 patient identifying information a signed affirmation that the person or entity
			 will not further divulge the information without procuring the express, written
			 consent of the insured for the disclosure. Notwithstanding the foregoing, if a
			 viatical settlement provider, viatical settlement broker (or viatical
			 settlement investment agent) is served with a subpoena and, therefore,
			 compelled to produce records containing patient identifying information, it
			 shall notify the viator and the insured in writing at their last known
			 addresses within 5 business days after receiving notice of the
			 subpoena.
b) A viatical settlement
			 provider shall not act also as a viatical settlement broker, whether entitled
			 to collect a fee directly or indirectly, in the same viatical
			 settlement.
c) A viatical
			 settlement broker shall not, without the written agreement of the viator
			 obtained prior to performing any services in connection with a viatical
			 settlement, seek or obtain any compensation from the viator.
Illinois Administrative Code › Title 50 - INSURANCE › Part 3701 - VIATICAL SETTLEMENT PROVIDER AND BROKER REQUIREMENTS › Section 3701.80 - Insurance Company Practices

Current through Register Vol. 48, No. 28, July 12, 2024
a)
			 Life insurance companies authorized to do business in this State shall respond
			 to a request for verification of coverage from a viatical settlement provider
			 or a viatical settlement broker within 30 calendar days after the date a
			 request is received, subject to the following conditions:
1) A current authorization consistent with
			 applicable law, signed by the policy owner or certificate holder, accompanies
			 the request; and
2) In the case of
			 an individual policy or group insurance coverage in which details with respect
			 to the certificate holder's coverage are maintained by the insurer, submission
			 of a form substantially similar to Exhibit H that has been completed by the
			 viatical settlement provider or the viatical settlement broker in accordance
			 with the instructions on the form.
Illinois Administrative Code › Title 50 - INSURANCE › Part 3701 - VIATICAL SETTLEMENT PROVIDER AND BROKER REQUIREMENTS › Section 3701.100 - Reporting Requirements

Current through Register Vol. 48, No. 28, July 12, 2024
a) On or
			 before March 1 of each year, viatical settlement providers must file the
			 following reports listed as Exhibits to this Part:
1) Viatical Settlement Provider Report - All
			 States and Territories (Form VSP-001) (Exhibit A);
2) Viatical Settlement Provider Report -
			 Illinois Transactions Only (Form VSP-002) (Exhibit C);
3) Individual Mortality Report - Illinois
			 Transactions Only (Form VSP-003) (Exhibit E); and
4) Viatical Settlement Provider Certification
			 (Form VSP-004) (Exhibit F).
Illinois Administrative Code › Title 50 - INSURANCE › Part 3701 - VIATICAL SETTLEMENT PROVIDER AND BROKER REQUIREMENTS › Exhibit A - Viatical Settlement Provider Report and Instructions - All States and Territories (Form VSP-001)

Current through Register Vol. 48, No. 28, July 12, 2024
______________________
Viatical Settlement Provider Report
Calendar year
Viatical Settlement Provider's Name
All States and
						  Territories
20____
1
2
3
4
5
6
7
8
States
Are you doing business in this state? (Y/N)
Total number of policies reviewed for
						  consideration
Total number of policies where an offer was made
Total number of policies where an offer was not
						  made
Total number of policies purchased
Aggregate total net death benefit
Aggregate amount paid to viators
Secondary market transactions
pur
sold
Alabama
Alaska
Arizona
Arkansas
California
Colorado
Connecticut
Delaware
Dist. of Columbia
Florida
Georgia
Hawaii
Idaho
Illinois
Indiana
Iowa
Kansas
Kentucky
Louisiana
Maine
Maryland
Massachusetts
Michigan
Minnesota
Mississippi
Missouri
Montana
Nebraska
Nevada
New Hampshire
New Jersey
New Mexico
New York
North Carolina
North Dakota
Ohio
Oklahoma
Oregon
Pennsylvania
Rhode Island
South Carolina
South Dakota
Tennessee
Texas
Utah
Vermont
Virginia
Washington
West Virginia
Wisconsin
Wyoming
American Samoa
Guam
Puerto Rico
U.S Virgin Islands
Canada
TOTALS
-
Name of Preparer: ________________________________
Instructions for Viatical Settlement
				Provider Report - All States and Territories
-
COLUMN
1
By a "Y" for yes or an "N" for no, indicate if you have
						  or have not done business in the state during the calendar year being
						  reported.
2
For each state or territory in which you have done
						  business during the calendar year being reported, indicate the total number of
						  policies reviewed for consideration.
3
For each state or territory in which you have done
						  business during the calendar year being reported, indicate the total number of
						  policies for which an offer was made.
4
For each state or territory in which you have done
						  business during the calendar year being reported, indicate the total number of
						  policies for which an offer was refused.
5
For each state or territory in which you have done
						  business during the calendar year being reported, indicate the total number of
						  policies purchased.
6
For each state or territory in which you have done
						  business during the calendar year being reported, list the total aggregate net
						  death benefit of the policies viaticated.
7
For each state or territory in which you have done
						  business during the calendar year being reported, list the total aggregate
						  amount paid to viators.
8
For each state or territory in which you have done
						  business during the calendar year being reported, list the total number of
						  policies purchased and/or sold in the secondary market.
Illinois Administrative Code › Title 50 - INSURANCE › Part 3701 - VIATICAL SETTLEMENT PROVIDER AND BROKER REQUIREMENTS › Exhibit B - Viatical Settlement Broker Report and Instructions - All States and Territories (Form VSB-001)

Current through Register Vol. 48, No. 28, July 12, 2024
__________________
Viatical Settlement Broker Report
Calendar year
Viatical Settlement Provider's Name
All States and Territories
20____
1
2
3
4
5
6
7
8
States
Are you doing business in this state? (Y/N)
Total number of policies reviewed for
						  consideration
Total number of policies represented for
						  viatication
Total number of policies where representation was
						  refused
Total number of policies sold to provider
Aggregate net death benefit viaticated
Aggregate net amount paid to viators
Number of policies purchased/sold on the secondary
						  market
Alabama
Alaska
Arizona
Arkansas
California
Colorado
Connecticut
Delaware
Dist. of Columbia
Florida
Georgia
Hawaii
Idaho
Illinois
Indiana
Iowa
Kansas
Kentucky
Louisiana
Maine
Maryland
Massachusetts
Michigan
Minnesota
Mississippi
Missouri
Montana
Nebraska
Nevada
New Hampshire
New Jersey
New Mexico
New York
North Carolina
North Dakota
Ohio
Oklahoma
Oregon
Pennsylvania
Rhode Island
South Carolina
South Dakota
Tennessee
Texas
Utah
Vermont
Virginia
Washington
West Virginia
Wisconsin
Wyoming
American Samoa
Guam
Puerto Rico
U.S Virgin Islands
Canada
TOTALS
Instructions for Viatical Settlement
				Broker Report - All States and Territories
COLUMN
1
By a "Y" for yes or an "N" for no, indicate if you have
						  or have not done business in the state during the calendar year being
						  reported.
2
For each state or territory in which you have done
						  business during the calendar year being reported, indicate the total number of
						  policies reviewed for consideration.
3
For each state or territory in which you have done
						  business during the calendar year being reported, indicate the total number of
						  policies for which an offer was made.
4
For each state or territory in which you have done
						  business during the calendar year being reported, indicate the total number of
						  policies for which an offer was refused.
5
For each state or territory in which you have done
						  business during the calendar year being reported, indicate the total number of
						  policies purchased.
6
For each state or territory in which you have done
						  business during the calendar year being reported, list the total aggregate net
						  death benefit of the policies viaticated.
7
For each state or territory in which you have done
						  business during the calendar year being reported, list the total aggregate
						  amount paid to viators.
8
For each state or territory in which you have done
						  business during the calendar year being reported, list the total number of
						  policies purchased and/or sold on the secondary market.
Illinois Administrative Code › Title 50 - INSURANCE › Part 3701 - VIATICAL SETTLEMENT PROVIDER AND BROKER REQUIREMENTS › Exhibit C - Viatical Settlement Provider Report and Instructions - Illinois Transactions Only (Form VSP-002)

Current through Register Vol. 48, No. 28, July 12, 2024
__________________
Viatical Settlement Provider Report
Calendar year
Viatical Settlement Provider's Name
Illinois Transactions
						  Only
20____
1
2
3
4
5
6
7
8
9
10
11
Viatical settlement provider settlement number
Contract date purchased
Total net death benefit ($)
Age of insured at time of contract
Life expectancy at time of contract
Net amount paid to viator ($)
Policy type:
I or G
Funding:
F, P, I, T or RPT
Source of policy:
B, D, SM,
P or O
Commission amount ($)
Name of source of policy
Name of Preparer: _____________________________________
Instructions for Viatical Settlement
				Provider Report - Illinois Transactions Only
Column
1
List the settlement number, case number or unique
						  identifying number used to identify the specific viatical settlement
						  transaction.
2
List the date the viatical settlement contract was
						  purchased by the provider during the current calendar year, whether or not the
						  insured is still alive at the end of the calendar year.
3
List the net amount (in dollars) being
						  viaticated.
4
List the age (in years) of the person insured by the
						  policy being viaticated, at the time of the viatical settlement
						  contract.
5
List the life expectancy (in months) of the insured
						  individual at the time of the viatical settlement contract.
6
List the net amount (in dollars) paid to the
						  viator.
7
Identify whether the policy was an individual policy
						  (I) or a group policy (G).
8
List the type of funding for the transaction: "F" for a
						  licensed financial institution (policies collateralized), "P" for private
						  (purchaser) funding, "I" for internal funding, "T" for trust, and "RPT" for
						  related provider trust.
9
Indicate the purchase source of the policy. Use "B" for
						  viatical settlement broker, "D" for direct from the viator, "I" for insurance
						  agent/producer, "SM" for a secondary market or viatical settlement provider,
						  "P" for private (purchaser) funding or "O" for other.
10
List the amount of commissions (in dollars) paid to
						  viator source involved in the transaction whether that be a viatical settlement
						  broker, an insurance producer or other licensed entity authorized to be viator
						  source.
11
List the name of the source of the viatical settlement
						  transaction. If it is a broker, producer or other licensee, name that person;
						  if it is direct, from a relative, from the corporation of the insured or any
						  other entity that could possibly reveal the insured, designate by writing
						  "Direct", "Relative", "Corporation", or other nondesignating word.
Illinois Administrative Code › Title 50 - INSURANCE › Part 3701 - VIATICAL SETTLEMENT PROVIDER AND BROKER REQUIREMENTS › Exhibit D - Viatical Settlement Broker Report and Instructions - Illinois Transactions Only (Form VSB-002)

Current through Register Vol. 48, No. 28, July 12, 2024
Viatical Settlement Broker Report
Calendar year
Viatical Settlement Broker's
						  Name
Illinois Transactions
						  Only
20____
1
2
3
4
5
6
Viatical settlement provider's settlement
						  number
Contract date sold to viatical settlement
						  provider
Total net death benefit
						  ($)
Net amount paid to viator
						  ($)
Commission
amount
($)
Viatical Settlement provider's
						  name
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Name of Preparer: ______________________________
Instructions for Viatical Settlement
				Broker Report - Illinois Transactions Only
Column
1
List the settlement number, case number or unique
						  identifying number used by the Viatical Settlement Provider (VSP) to identify
						  the specific viatical settlement transaction.
2
List the date the viatical settlement contract was sold
						  to the VSP.
3
List the total net death benefit.
4
List the net amount (in dollars) paid to the
						  viator.
5
List the amount of commissions (in dollars) paid to all
						  viatical settlement brokers involved in the transaction.
6
List the name of the VSP involved in the viatical
						  settlement.
Illinois Administrative Code › Title 50 - INSURANCE › Part 3701 - VIATICAL SETTLEMENT PROVIDER AND BROKER REQUIREMENTS › Exhibit E - Individual Mortality Report and Instructions - Illinois Transactions Only (Form VSP-003)

Current through Register Vol. 48, No. 28, July 12, 2024
_______________________
Individual Mortality
						  Report
Calendar year
Viatical Settlement Provider's Name
Illinois Transactions Only
20____
1
2
3
4
5
6
7
8
9
10
Viatical settlement provider's settlement number
Contract date
Age of insured at time of contract
Life expectancy at time of contract
Net amount paid to viator
Date of death
Total premiums paid to maintain policy
Death benefit collected
Number of months between date of contract and date of
						  death
Number of months between life expectancy at contract
						  date and date of death (+ / -)
Name of Preparer: ________________________________
Instructions for Individual Mortality
				Report - Illinois Transactions Only
Column
1
List the settlement number, case number, or unique
						  identifying number used to identify the specific viatical settlement
						  transaction.
2
List the date of the viatical settlement
						  contract.
3
List the age of the insured at the time of the
						  contract.
4
List the life expectancy (in months) of the insured
						  individual at the time of the viatical settlement contract. For first to die
						  policies, use the shortest life expectancy of the two lives. For second to die
						  policies, use the longest life expectancy of the two lives.
5
List the "Net" amount paid to the viator.
6
Indicate the insured's date of death. For first to die
						  policies, use the date of the first insured's death. For second to die
						  policies, use the date of the last insured's death.
7
List the total amount of premiums (in dollars) required
						  to be paid to the insurer to maintain the policy from the date of viatication
						  to the date of death.
8
List the total death benefit collected from the
						  insurer.
9
List the number of months between the date of contract
						  and the insured's date of death.
10
List the number of months between the life expectancy
						  of the insured at the time of contract and the insured's date of death. This
						  should be noted as a plus (+) figure if the insured died after the estimated
						  life expectancy or a minus (-) if the insured died prior to the estimated life
						  expectancy.
Illinois Administrative Code › Title 50 - INSURANCE › Part 3801 - SMALL EMPLOYER CARRIER ACTUARIAL CERTIFICATION AND DOCUMENTATION REQUIREMENTS › Section 3801.10 - Purpose

Current through Register Vol. 48, No. 28, July 12, 2024
The purpose of this Part is to set standards for the filing and
				contents of a small employer carrier actuarial certification pursuant to
				Section 30(b) of the Small Employer Health Insurance Rating Act [
				215 ILCS
				93/30(b) ].
Illinois Administrative Code › Title 50 - INSURANCE › Part 3801 - SMALL EMPLOYER CARRIER ACTUARIAL CERTIFICATION AND DOCUMENTATION REQUIREMENTS › Section 3801.20 - Applicability and Scope

Current through Register Vol. 48, No. 28, July 12, 2024
This Part shall apply to each health benefit plan for a small
				employer that is delivered, issued for delivery, renewed or continued in this
				State after July 1, 2000 that is required to file an annual actuarial
				certification. For purposes of this Part, the date a plan is continued shall be
				the first rating period which commences after July 1, 2000.
Illinois Administrative Code › Title 50 - INSURANCE › Part 3801 - SMALL EMPLOYER CARRIER ACTUARIAL CERTIFICATION AND DOCUMENTATION REQUIREMENTS › Section 3801.30 - Definitions

Current through Register Vol. 48, No. 28, July 12, 2024
Act means the Small Employer Health Insurance Rating Act [ 215
				ILCS 93 ].
Actuarial Certification means a written statement that the
				small employer carrier meets the applicable provisions of the Act and this Part
				by a member of the American Academy of Actuaries or other pre-approved
				individual acceptable to the Director.
Director means the Director of the Illinois Department of
				Insurance.
Health Benefit Plan or Plan means any hospital or medical
				expense-incurred policy, hospital or medical service plan contract, or health
				maintenance organization subscriber contract. Health benefit plan shall not
				include individual, accident-only, credit, dental, vision, Medicare supplement,
				hospital indemnity, long term care, specific disease, stop loss or disability
				income insurance, coverage issued as a supplement to liability insurance,
				workers' compensation or similar insurance, or automobile medical payment
				insurance.
Review of Appropriate Records means a review conducted in
				accordance with the Actuarial Standards Board document entitled Actuarial
				Standards of Practice No. 23 which addresses the Data Quality issue and gives
				guidance on what level of review would be required in a review of appropriate
				records.
Small Employer means, in connection with a group health plan
				with respect to a calendar year and a plan year, an employer who employed an
				average of at least 2 but not more than 50 employees on business days during
				the preceding calendar year and who employs at least 2 employees on the first
				day of the plan year.
Small Employer Carrier means a carrier that offers health
				benefit plans covering employees of one or more small employers in this
				State.
Illinois Administrative Code › Title 50 - INSURANCE › Part 3801 - SMALL EMPLOYER CARRIER ACTUARIAL CERTIFICATION AND DOCUMENTATION REQUIREMENTS › Section 3801.40 - Pre-approval of an Individual Who is Not a Member of the American Academy of Actuaries for the purpose of filing an Actuarial Certification

Current through Register Vol. 48, No. 28, July 12, 2024
The Director may deem an individual who is not a member of the
				American Academy of Actuaries acceptable for actuarial certification, pursuant
				to Section 30(b) of the Act and Section
				5101.60
				of this Part, if the small employer demonstrates through the filing of
				documentation and information that the individual has the appropriate
				experience and educational background. Such information shall be mailed to the
				address provided in Section
				5101.60(l)
				of this Part and may include, but is not limited to, the following:
a) Educational degrees or other
			 certifications;
b) Work experience;
			 and
c) References.
Illinois Administrative Code › Title 50 - INSURANCE › Part 3801 - SMALL EMPLOYER CARRIER ACTUARIAL CERTIFICATION AND DOCUMENTATION REQUIREMENTS › Section 3801.50 - Small Employer Carrier Rating and Underwriting Record Maintenance

Current through Register Vol. 48, No. 28, July 12, 2024
A small employer carrier shall maintain and have accessible at
				its principal place of business for a period of 3 years from the date of
				actuarial certification the following records and information:
a) A complete and detailed description of its
			 rating practices and renewal underwriting practices;
b) Information and documentation that
			 demonstrates that its rating methods and practices are based upon commonly
			 accepted actuarial assumptions and are in accordance with sound actuarial
			 principles; and
c) Any work papers
			 or other information and documentation prepared in support of the actuarial
			 certification.
Illinois Administrative Code › Title 50 - INSURANCE › Part 3801 - SMALL EMPLOYER CARRIER ACTUARIAL CERTIFICATION AND DOCUMENTATION REQUIREMENTS › ILLUSTRATION B - Statement of the Company Officer

Current through Register Vol. 48, No. 28, July 12, 2024
The following illustrates an acceptable statement to be filed
				when the opining actuary or pre-approved individual has indicated reliance on
				data provided by company personnel:
I [name of officer], [title], of [name of carrier],
				hereby affirm that the listings (summaries, rate manuals, etc.) of relevant
				data prepared for and submitted to [name of appointed actuary] were prepared
				under my direction and, to the best of my knowledge and belief, are
				substantially accurate and complete.
_________________________________
Name of Officer of the Carrier (typewritten)
_________________________________
Signature of Officer of the Carrier
_________________________________
Date
Illinois Administrative Code › Title 50 - INSURANCE › Part 4002 - PERSONAL INFORMATION PRIVACY PROTECTION › Section 4002.10 - Purpose

Current through Register Vol. 48, No. 28, July 12, 2024
This Part will implement Article XL and Article XXVI of the
				Illinois Insurance Code [215 ILCS 5 /Arts. XL and XXVI] and provides guidance
				for compliance with Title V of the Gramm-Leach-Bliley Act (
				15 USC
				6801 through
				6827 ) which govern
				the treatment of personal information by all licensees of the Illinois
				Department of Insurance.
Illinois Administrative Code › Title 50 - INSURANCE › Part 4002 - PERSONAL INFORMATION PRIVACY PROTECTION › Section 4002.20 - Applicability

Current through Register Vol. 48, No. 28, July 12, 2024
a) This Part
			 applies to all licensees, companies, and other persons licensed or required to
			 be licensed, or authorized or required to be authorized, or registered or
			 required to be registered, or domiciled pursuant to the Illinois Insurance Code
			 or any other Act of Chapter 215 of the Illinois Compiled Statutes. This Part
			 also applies to unauthorized insurers or companies who accept business placed
			 through a licensed surplus line producer in this State, but only in regard to
			 the surplus line transactions placed pursuant to Section 445 of the Illinois
			 Insurance Code [215 ILCS 5/445 ].
			 However, this Part does not apply to "service contract providers" as defined by
			 the Service Contract Act [215 ILCS 152 ].
b) A licensee is not subject to the notice
			 and opt out requirements for nonpublic personal financial information set forth
			 in this Part if the licensee is an employee, agent or other representative of
			 another licensee ("the principal") and:
1) The
			 principal otherwise complies with, and provides the notices required by, the
			 provisions of this Part; and
2) The
			 licensee does not disclose any nonpublic personal financial information to any
			 person other than the principal or its affiliates in a manner permitted by this
			 Part.
Illinois Administrative Code › Title 50 - INSURANCE › Part 4002 - PERSONAL INFORMATION PRIVACY PROTECTION › Section 4002.35 - Treatment of Individual's Information Under Group Policies

Current through Register Vol. 48, No. 28, July 12, 2024
a) Provided that the licensee provides the
			 initial, annual and revised notices under Sections
			 4002.40,
			 4002.50
			 and
			 4002.80
			 of this Part to the plan sponsor, group or blanket insurance policyholder or
			 group annuity contract holder and further provided that the licensee does not
			 disclose to a nonaffiliated third party nonpublic personal financial
			 information about such an individual other than as permitted under Sections
			 4002.130,
			 4002.140
			 and
			 4002.150
			 of this Part, an individual is not the consumer of the licensee solely because
			 he or she is:
1) A participant or a
			 beneficiary of an employee benefit plan that the licensee administers or
			 sponsors or for which the licensee acts as a trustee, insurer or fiduciary;
			 or
2) Covered under a group or
			 blanket insurance policy or group annuity contract issued by the
			 licensee.
Illinois Administrative Code › Title 50 - INSURANCE › Part 4002 - PERSONAL INFORMATION PRIVACY PROTECTION › Section 4002.40 - Initial Privacy Notice to Consumers

Current through Register Vol. 48, No. 28, July 12, 2024
a) Initial notice requirement. A licensee
			 shall provide a clear and conspicuous notice that accurately reflects its
			 privacy policies and practices to:
1)
			 Customer. An individual who becomes the licensee's customer, not later than
			 when the licensee establishes a customer relationship, except as provided in
			 subsection (e) of this Section; and
2) Consumer. A consumer, before the licensee
			 discloses any nonpublic personal financial information about the consumer to
			 any nonaffiliated third party, if the licensee makes a disclosure other than as
			 authorized by Sections
			 4002.140
			 and
			 4002.150
			 of this Part.
Illinois Administrative Code › Title 50 - INSURANCE › Part 4002 - PERSONAL INFORMATION PRIVACY PROTECTION › Section 4002.50 - Annual Privacy Notice to Customers

Current through Register Vol. 48, No. 28, July 12, 2024
a)
			 A licensee shall provide a clear and conspicuous notice to customers that
			 accurately reflects its privacy policies and practices not less than annually
			 during the continuation of the customer relationship. Annually means at least
			 once in any period of 12-consecutive months during which that relationship
			 exists. A licensee may define the 12-consecutive-month period, but the licensee
			 shall apply it to the customer on a consistent basis. If a licensee defines the
			 12-consecutive-month period as a calendar year and a customer opens an account
			 on any day of year 1, the licensee shall provide an annual notice to that
			 customer by December 31 of year 2.
b) Termination of customer relationship. A
			 licensee is not required to provide an annual notice to a former customer. For
			 the purposes of this Part, a former customer is an individual with whom a
			 licensee no longer has a continuing relationship, which includes, but is not
			 limited to, when:
1) The individual no longer
			 is a current policyholder of an insurance product or no longer obtains
			 insurance services with or through the licensee;
2) The individual's policy is lapsed, expired
			 or otherwise inactive or dormant under the licensee's business practices, and
			 the licensee has not communicated with the customer about the relationship for
			 a period of 12-consecutive months, other than to provide annual privacy
			 notices, material required by law or regulation, or promotional
			 materials;
3) The individual's last
			 known address according to the licensee's records is deemed invalid. An address
			 of record is deemed invalid if mail sent to that address by the licensee has
			 been returned by the postal authorities as undeliverable and if subsequent
			 attempts by the licensee to obtain a current valid address for the individual
			 have been unsuccessful; or
4) In
			 the case of providing real estate settlement services, at the time the customer
			 completes execution of all documents related to the real estate closing,
			 payment for those services has been received, or the licensee has completed all
			 of its responsibilities with respect to the settlement, including filing
			 documents on the public record, whichever is later.
Illinois Administrative Code › Title 50 - INSURANCE › Part 4002 - PERSONAL INFORMATION PRIVACY PROTECTION › Section 4002.60 - Information to be Included in Privacy Notices

Current through Register Vol. 48, No. 28, July 12, 2024
a) The initial, annual and revised privacy
			 notices that a licensee provides under Sections
			 4002.40,
			 4002.50
			 and
			 4002.80
			 of this Part shall include each of the following items of information, in
			 addition to any other information the licensee wishes to provide, that applies
			 to the licensee and to the consumers to whom the licensee sends its privacy
			 notice:
1) The categories of nonpublic
			 personal financial information that the licensee collects, which may include,
			 but are not limited to, the following:
A)
			 Information from the consumer;
B)
			 Information about the consumer's transactions with the licensee or its
			 affiliates;
C) Information about
			 the consumer's transactions from nonaffiliated third parties; and
D) Information from a consumer reporting
			 agency.
Illinois Administrative Code › Title 50 - INSURANCE › Part 4002 - PERSONAL INFORMATION PRIVACY PROTECTION › Section 4002.70 - Form of Opt Out Notice to Consumers and Opt Out Methods

Current through Register Vol. 48, No. 28, July 12, 2024
a) Form of opt out notice. If a licensee is
			 required to provide an opt out notice under Section
			 4002.100(a)
			 of this Part, it shall provide a clear and conspicuous notice to each of its
			 consumers that accurately explains the right to opt out under Section
			 4002.100
			 of this Part. The notice shall state:
1) That
			 the licensee discloses or reserves the right to disclose nonpublic personal
			 financial information about its consumer to a nonaffiliated third
			 party;
2) That the consumer has the
			 right to opt out of that disclosure and identifies:
A) All of the categories of nonpublic
			 personal financial information that it discloses or reserves the right to
			 disclose, and all of the categories of nonaffiliated third parties to which the
			 licensee discloses the information, as described in Section
			 4002.60(a)(2)
			 and (3) of this Part, and states that the
			 consumer can opt out of the disclosure of that information; and
B) The insurance products or services that
			 the consumer obtains from the licensee, either singly or jointly, to which the
			 opt out direction would apply; and
3) A reasonable means by which the consumer
			 may exercise the opt out right by providing one of the following:
A) Designates check-off boxes in a prominent
			 position on the relevant forms with the opt out notice;
B) Includes a reply form together with the
			 opt out notice;
C) Provides an
			 electronic means to opt out, such as a form that can be sent via electronic
			 mail or a process at the licensee's web site, if the consumer agrees to the
			 electronic delivery of information; or
D) Provides a toll-free telephone number that
			 consumers may call to opt out.
Illinois Administrative Code › Title 50 - INSURANCE › Part 4002 - PERSONAL INFORMATION PRIVACY PROTECTION › Section 4002.80 - Revised Privacy Notices

Current through Register Vol. 48, No. 28, July 12, 2024
a)
			 General rule. Except as otherwise authorized in this Part, a licensee shall
			 not, directly or through an affiliate, disclose any nonpublic personal
			 financial information about a consumer to a nonaffiliated third party other
			 than as described in the initial notice that the licensee provided to that
			 consumer under Section
			 4002.40
			 of this Part, unless:
1) The licensee has
			 provided to the consumer a clear and conspicuous revised notice that accurately
			 describes its policies and practices;
2) The licensee has provided to the consumer
			 a new opt out notice;
3) The
			 licensee has given the consumer a reasonable opportunity, before the licensee
			 discloses the information to the nonaffiliated third party, to opt out of the
			 disclosure; and
4) The consumer
			 does not opt out.
Illinois Administrative Code › Title 50 - INSURANCE › Part 4002 - PERSONAL INFORMATION PRIVACY PROTECTION › Section 4002.90 - Delivery of Notices

Current through Register Vol. 48, No. 28, July 12, 2024
a) How to
			 provide notices. A licensee shall provide any notices that this Part requires
			 so that each consumer can reasonably be expected to receive actual notice in
			 writing or, if the consumer agrees, electronically.
1) A licensee may reasonably expect that a
			 consumer will receive actual notice if the licensee provides notice by one of,
			 but not limited to, the following methods:
A)
			 Hand-delivers a printed copy of the notice to the consumer;
B) Mails a printed copy of the notice to the
			 last known address of the consumer separately, or in a policy, billing or other
			 written communication;
C) For a
			 consumer who conducts transactions electronically, posts the notice on the
			 electronic site and requires the consumer to acknowledge receipt of the notice
			 as a necessary step to obtaining a particular insurance product or
			 service;
D) For an isolated
			 transaction with a consumer, such as the licensee providing an insurance quote
			 or selling the consumer travel insurance, posts the notice and requires the
			 consumer to acknowledge receipt of the notice as a necessary step to obtaining
			 the particular insurance product or service; or
E) By electronic mail or posting, if the
			 consumer agrees to receive notice by electronic means and the consumer
			 acknowledges receipt of the notice.
Illinois Administrative Code › Title 50 - INSURANCE › Part 4002 - PERSONAL INFORMATION PRIVACY PROTECTION › Section 4002.100 - Limits on Disclosure of Nonpublic Personal Financial Information to Nonaffiliated Third Parties

Current through Register Vol. 48, No. 28, July 12, 2024
a) Conditions
			 for disclosure. Except as otherwise authorized in this Part, a licensee may
			 not, directly or through any affiliate, disclose any nonpublic personal
			 financial information about a consumer to a nonaffiliated third party unless:
1) The licensee has provided to the consumer
			 an initial notice as required under Section
			 4002.40
			 of this Part;
2) The licensee has
			 provided to the consumer an opt out notice as set forth in Section
			 4002.70
			 of this Part;
3) The licensee has
			 given the consumer a reasonable opportunity, before it discloses the
			 information to the nonaffiliated third party, to opt out of the disclosure;
			 and
4) The consumer does not opt
			 out.
Illinois Administrative Code › Title 50 - INSURANCE › Part 4002 - PERSONAL INFORMATION PRIVACY PROTECTION › Section 4002.110 - Limits on Redisclosure and Reuse of Nonpublic Personal Financial Information

Current through Register Vol. 48, No. 28, July 12, 2024
a)
			 Information the licensee receives under an exception. If a licensee receives
			 nonpublic personal financial information from a nonaffiliated financial
			 institution under an exception in Section
			 4002.140
			 or
			 4002.150
			 of this Part, the licensee's disclosure and use of that information is limited
			 as follows:
1) The licensee may disclose the
			 information to the affiliates of the financial institution from which the
			 licensee received the information;
2) The licensee may disclose the information
			 to its affiliates, but the licensee's affiliates may, in turn, disclose and use
			 the information only to the extent that the licensee may disclose and use the
			 information;
3) The licensee may
			 disclose and use the information pursuant to an exception in Section
			 4002.140
			 or
			 4002.150
			 of this Part in the ordinary course of business to carry out the activity
			 covered by the exception under which the licensee received the information;
			 and
4) If a licensee receives
			 information from a nonaffiliated financial institution for claims settlement
			 purposes, the licensee may disclose the information for fraud prevention, or in
			 response to a properly authorized subpoena; however, the licensee may not
			 disclose that information to a third party for marketing purposes or use that
			 information for its own marketing purposes.
Illinois Administrative Code › Title 50 - INSURANCE › Part 4002 - PERSONAL INFORMATION PRIVACY PROTECTION › Section 4002.120 - Limits on Sharing Account Number Information for Marketing Purposes

Current through Register Vol. 48, No. 28, July 12, 2024
a) General
			 prohibition on disclosure of account numbers. A licensee shall not, directly or
			 through an affiliate, disclose, other than to a consumer reporting agency, a
			 policy number or similar form of access number or access code for a consumer's
			 policy or transaction account to any nonaffiliated third party for use in
			 telemarketing, direct mail marketing or other marketing through electronic mail
			 to the consumer except as provided in subsection (b) of this Section. For the
			 purposes of this Section, a policy or transaction account is an account other
			 than a deposit account or a credit card account and does not include an account
			 to which third parties cannot initiate charges.
b) Subsection (a) of this Section does not
			 apply if a licensee discloses a policy number or similar form of access number
			 or access code:
1) To the licensee's service
			 provider solely in order to perform marketing for the licensee's own products
			 or services, as long as the service provider is not authorized to directly
			 initiate charges to the account;
2)
			 To a licensee who is an insurance producer solely in order to perform marketing
			 for the licensee's own products or services; or
3) To a participant in an affinity or similar
			 program where the participants in the program are identified to the customer
			 when the customer enters into the program.
Illinois Administrative Code › Title 50 - INSURANCE › Part 4002 - PERSONAL INFORMATION PRIVACY PROTECTION › Section 4002.130 - Exception to Opt Out Requirements for Disclosure of Nonpublic Personal Financial Information for Service Providers and Joint Marketing

Current through Register Vol. 48, No. 28, July 12, 2024
a) The opt out requirements in Sections
			 4002.70
			 and
			 4002.100
			 of this Part do not apply when a licensee provides nonpublic personal financial
			 information about a consumer to a nonaffiliated third party to perform services
			 for the licensee or functions on the licensee's behalf, if the licensee:
1) Provides the initial notice in accordance
			 with Section
			 4002.40
			 of this Part; and
2) Enters into a
			 contractual agreement with the third party that prohibits the third party from
			 disclosing or using the information other than to carry out the purposes for
			 which the licensee disclosed the information, including use under an exception
			 in Section
			 4002.140
			 or
			 4002.150
			 of this Part in the ordinary course of business to carry out those
			 purposes.
Illinois Administrative Code › Title 50 - INSURANCE › Part 4002 - PERSONAL INFORMATION PRIVACY PROTECTION › Section 4002.140 - Exceptions to Notice and Opt Out Requirements for Disclosure of Nonpublic Personal Financial Information for Processing and Servicing Transactions

Current through Register Vol. 48, No. 28, July 12, 2024
a) Exceptions for
			 processing transactions at consumer's request. The requirements for initial
			 notice in Section
			 4002.40(a)(2)
			 of this Part, the opt out in Sections
			 4002.70
			 and
			 4002.100
			 of this Part, and service providers and joint marketing in Section
			 4002.130
			 of this Part do not apply if the licensee discloses nonpublic personal
			 financial information as necessary to effect, administer or enforce a
			 transaction that a consumer requests or authorizes, or in connection with:
1) Servicing or processing an insurance
			 product or service that a consumer requests or authorizes;
2) Maintaining or servicing the consumer's
			 account with a licensee, or with another entity as part of a private label
			 credit card program or other extension of credit on behalf of such
			 entity;
3) A proposed or actual
			 securitization, secondary market sale (including sales of servicing rights) or
			 similar transaction related to a transaction of the consumer; or
4) Reinsurance or stop loss or excess loss
			 insurance.
Illinois Administrative Code › Title 50 - INSURANCE › Part 4002 - PERSONAL INFORMATION PRIVACY PROTECTION › Section 4002.200 - Nondiscrimination

Current through Register Vol. 48, No. 28, July 12, 2024
A licensee shall not unfairly discriminate against any consumer
				or customer because that consumer or customer has opted out from the disclosure
				of his or her nonpublic personal financial information pursuant to the
				provisions of this Part.
Illinois Administrative Code › Title 50 - INSURANCE › Part 4002 - PERSONAL INFORMATION PRIVACY PROTECTION › Section 4002.210 - Enforcement

Current through Register Vol. 48, No. 28, July 12, 2024
This Part, Article XL of the Code [215 ILCS 5 /Art. XL], and
				Title V of the Gramm-Leach-Bliley Act (
				15 USC
				6801 through
				6827 ) shall be
				enforced by the Director with respect to all licensees.
Illinois Administrative Code › Title 50 - INSURANCE › Part 4002 - PERSONAL INFORMATION PRIVACY PROTECTION › Section 4002.220 - Penalty

Current through Register Vol. 48, No. 28, July 12, 2024
Failure of a company or person to comply with this Part shall
				subject the company to the applicable provisions of Section 403A of the Code
				[215
				ILCS 5/403A ].
Illinois Administrative Code › Title 50 - INSURANCE › Part 4002 - PERSONAL INFORMATION PRIVACY PROTECTION › Section 4002.230 - Severability

Current through Register Vol. 48, No. 28, July 12, 2024
If any Section or portion of a Section of this Part or its
				applicability to any person or circumstance is held invalid by a court, the
				remainder of this Part or the applicability of the provision to other persons
				or circumstances shall not be affected.
Illinois Administrative Code › Title 50 - INSURANCE › Part 4002 - PERSONAL INFORMATION PRIVACY PROTECTION › Section 4002.235 - Protection of Fair Credit Reporting Act

Current through Register Vol. 48, No. 28, July 12, 2024
Nothing in this Part shall be construed to modify, limit or
				supersede the operation of the federal Fair Credit Reporting Act (
				15 USC
				1681 et seq.), and no inference shall be
				drawn on the basis of the provisions of this Part regarding whether information
				is transaction or experience information under Section 603 of that
				Act.
Illinois Administrative Code › Title 50 - INSURANCE › Part 4002 - PERSONAL INFORMATION PRIVACY PROTECTION › Section 4002.240 - Effective Date

Current through Register Vol. 48, No. 28, July 12, 2024
This Part will be effective July 1, 2001 in order to provide
				sufficient time for licensees to establish policies and systems to comply with
				the requirements of Title V of the Gramm-Leach-Bliley Act (
				15 USC
				6801 through
				6827 ), which became
				effective November 13, 1999. By July 1, 2001, a licensee shall provide an
				initial notice, as required by Section
				4002.40
				of this Part, to consumers who are the licensee's customers on July 1, 2001.
				However, Sections
				4002.40
				and
				4002.50
				will become effective upon the first renewal for a customer who was a customer
				prior to July 1, 2001. However, the provisions of Section
				4002.130
				are satisfied until July 1, 2002 as applied to a contract that a licensee has
				entered into with a nonaffiliated third party to perform services for the
				licensee or functions on the licensee's behalf, even if the contract does not
				include a requirement that the third party maintain the confidentiality of
				nonpublic personal information, as long as the licensee entered into the
				contract on or before July 1, 2000.
Illinois Administrative Code › Title 50 - INSURANCE › Part 4003 - STANDARDS FOR SAFEGUARDING CUSTOMER INFORMATION › Section 4003.10 - Purpose

Current through Register Vol. 48, No. 28, July 12, 2024
The purpose of this Part is to establish standards for
				developing and implementing administrative, technical and physical safeguards
				to protect the security, confidentiality and integrity of customer information
				pursuant to Sections 501, 505(b) and 507 of the Gramm-Leach-Bliley Act (
				15 USC
				6801,
				6805(b)
				and
				6807
				).
Illinois Administrative Code › Title 50 - INSURANCE › Part 4003 - STANDARDS FOR SAFEGUARDING CUSTOMER INFORMATION › Section 4003.20 - Applicability

Current through Register Vol. 48, No. 28, July 12, 2024
This Part applies to all licensees, companies, and other
				persons licensed or required to be licensed, or authorized or required to be
				authorized, or registered or required to be registered, or domiciled pursuant
				to the Illinois Insurance Code or any other Act of Chapter 215 of the Illinois
				Compiled Statutes. This Part also applies to unauthorized insurers or companies
				who accept business placed through a licensed surplus line producer in this
				State, but only in regard to the surplus line transactions placed pursuant to
				Section 445 of the Illinois Insurance Code [215 ILCS
				5/445 ]. However, this Part does not apply to "service
				contract providers" as defined by the Service Contract Act [215 ILCS 152
				].
Illinois Administrative Code › Title 50 - INSURANCE › Part 4003 - STANDARDS FOR SAFEGUARDING CUSTOMER INFORMATION › Section 4003.30 - Definitions

Current through Register Vol. 48, No. 28, July 12, 2024
Code means the Illinois Insurance Code [215 ILCS 5 ].
Customer means a customer of the licensee as the term customer
				is defined in 50 Ill. Adm. Code
				4002.30.
Customer Information means nonpublic personal financial
				information as defined in Section 50 Ill. Adm. Code
				4002.30 about a
				customer, whether in paper, electronic or other form, that is maintained by or
				on behalf of the licensee.
Customer Information Systems means the electronic or physical
				methods used to access, collect, store, use, transmit, protect or dispose of
				customer information.
Department means the Illinois Department of Insurance.
Director means the Director of the Illinois Department of
				Insurance.
Licensee means a licensee as that term is defined in Section 50
				Ill. Adm. Code 4002.30, except that "licensee" shall not include: purchasing
				group; or an unauthorized insurer in regard to the excess line business
				conducted pursuant to Section 445 of the Code.
Service Provider means a person that maintains, processes or
				otherwise is permitted access to customer information through its provision of
				services directly to the licensee.
Illinois Administrative Code › Title 50 - INSURANCE › Part 4003 - STANDARDS FOR SAFEGUARDING CUSTOMER INFORMATION › Section 4003.40 - Information Security Program

Current through Register Vol. 48, No. 28, July 12, 2024
Each licensee shall implement a comprehensive written
				information security program that includes administrative, technical and
				physical safeguards for the protection of customer information. The
				administrative, technical and physical safeguards included in the information
				security program shall be appropriate to the size and complexity of the
				licensee and the nature and scope of its activities.
Illinois Administrative Code › Title 50 - INSURANCE › Part 4003 - STANDARDS FOR SAFEGUARDING CUSTOMER INFORMATION › Section 4003.50 - Objectives of Information Security Program

Current through Register Vol. 48, No. 28, July 12, 2024
A licensee's information security program shall be designed
				to:
a) Ensure the security and
			 confidentiality of customer information;
b) Protect against any anticipated threats or
			 hazards to the security or integrity of the information; and
c) Protect against unauthorized access to or
			 use of the information that could result in substantial harm or inconvenience
			 to any customer.