illinois department of insurance Archives

Auto insurance data spat could lead to regulatory battle in Illinois

July 19, 2022July 18, 2022 H. Cutner

Auto insurance data - Regulation Battle - Illinois

A fight over information regarding insurer profits during the pandemic may increase state regulation. Newly disclosed auto insurance data from throughout the pandemic has shown that insurers made excessive profits throughout that span of time, according to the Illinois Public Interest Research Group (PIRG) consumer advocacy group. The watchdog says it is proof that the state is in need of stricter regulation of the industry. Insurers have been fighting against the release of the auto insurance data relating to the premiums charged throughout the pandemic. That information was requested by…

Illinois workers compensation moves through state Senate

April 19, 2018April 18, 2018 Marc

Illinois workers compensation - Construction Site - Construction Workers

Senators have given the nod to new restrictions on insurance companies writing this type of policy. New Illinois workers compensation legislation has received approval in the state Senate. It applies new restrictions to insurance companies that write workers compensation policies. The insurance legislation passed the state Senate this week in a vote of 34 to 21. This Illinois workers compensation legislation is a mirror image of one that was approved by lawmakers in the state last year. However, when that proposal reached Governor Bruce Rauner’s desk, he vetoed it. This…

Privacy breach may have some impact on the insurance industry in Illinois

November 19, 2015November 18, 2015 Logan B.

State agency announces privacy breach, revealing Social Security Numbers of health care providers The Illinois Department of Insurance has announced that it has mistakenly allowed the Social Security Numbers of health care providers to be publicly posted. The number of health care providers affected by this privacy breach has not yet been disclosed, but the event may have some impact on the insurance industry. State officials recently learned of the privacy breach after receiving complaints. It is unclear how long the Social Security Numbers of health care professionals were visible…

Health insurance rate proposals opened to the public in Illinois

August 8, 2014August 5, 2014 Nordstrom

State officials make rate filings from insurers open to the public Illinois officials have granted the public with access to rate proposals filed by the state’s health insurance companies. These proposals contain detailed information about the rates that insurance companies charge for the coverage that they provide. Insurers have submitted proposals for rate increases recently, which will affect policies in 2015, and many companies have had to offer sufficient evidence that these rate increases are necessary. State officials believe that such information should be available to the public. State residents…

State agency seeks to provide guidance on homeowners insurance issues

November 22, 2013November 25, 2013 Nordstrom

Homeowners insurance confusion could be a problem for Illinois residents A powerful tornado swept through Illinois earlier this week, leaving a path of destruction in its wake. The city of Washington was one of those that suffered most from the natural disaster, which destroyed more than 500 homes and damaged property throughout the entirety of the city. The devastating event has caused some confusion concerning homeowners insurance and natural disasters, which has spurred the Illinois Department of Insurance to take action. Agency to provide one-on-one counseling sessions for disaster victims…

Illinois releases information on health insurance exchange

October 1, 2013September 30, 2013 Logan B.

Data released concerning state health insurance exchange Open enrollment for health insurance exchanges throughout the U.S. is about to begin and more states are beginning to release information concerning the policies sold through these exchanges. Illinois is among the latest states to provide new information for its health insurance exchange. The information primarily focuses on the premiums associated with the state’s exchange but also highlights the various services offered by the system and promotes awareness concerning the availability of federal subsidies designed to offset the cost of coverage. Rates to…

Illinois health insurance companies seek to circumvent federal law

August 6, 2013August 3, 2013 Nordstrom

Acts of health insurance providers create drama with state regulators Drama has erupted in the insurance industry in Illinois. The state’s Department of Insurance has taken issue with an action that many of the state’s largest health insurance providers plan to take in order to avoid federal reforms for an entire year. Per the Affordable Care Act, insurers will not be able to charge higher rates for women, those with pre-existing conditions, and other demographics beginning January 1, 2014. In an attempt to sidestep these new regulations, many of the…