Illinois Compiled Statutes
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215 ILCS 157/15
(215 ILCS 157/15)
For the purposes of this Act, these defined words
"Adverse action" means a denial or cancellation of, an increase in any charge
a reduction or other adverse or unfavorable change in the terms of coverage or
amount of, any insurance, existing or applied for, in connection with the
underwriting of personal insurance.
"Affiliate" means any company that controls, is controlled by, or is under
control with another company.
"Applicant" means an individual who has applied to be covered by a personal
insurance policy with an insurer.
"Consumer" means an insured or an applicant for a personal insurance policy
credit information is used or whose insurance score is calculated in the
underwriting or rating of a personal insurance policy.
"Consumer reporting agency" means any person that, for monetary fees or dues
or on a
cooperative nonprofit basis, regularly engages in whole or in part in the
of assembling or evaluating consumer credit information or other information on
consumers for the purpose of furnishing consumer reports to third parties.
"Credit information" means any credit-related information derived from a
report, found on a credit report itself, or provided on an application for
insurance. Information that is not credit-related shall not be considered
information," regardless of whether it is contained in a credit report or in an
application or is used to calculate an insurance score.
"Credit report" means any written, oral, or other communication of
information by a
consumer reporting agency bearing on a consumer's credit worthiness, credit
standing, or credit capacity, that is used or expected to be used or collected
whole or in part for the purpose of serving as a factor to determine personal
insurance premiums, eligibility for coverage, or tier placement.
"Department" means the Department of Insurance.
"Insurance score" means a number or rating that is derived from an algorithm,
application, model, or other process that is based in whole or in part on
information for the purposes of predicting the future insurance loss exposure
individual applicant or insured.
(Source: P.A. 93-114, eff. 10-1-03.)