[ Search ] [ Legislation ] [ Bill Summary ]
[ Home ] [ Back ] [ Bottom ]
90_SB0913
215 ILCS 5/155.57 from Ch. 73, par. 767.57
Amends the Illinois Insurance Code. Makes a technical
change in the Section concerning the filing of forms.
SDS/bill0035/bkp
SDS/bill0035/bkp
1 AN ACT to amend the Illinois Insurance Code by changing
2 Section 155.57.
3 Be it enacted by the People of the State of Illinois,
4 represented in the General Assembly:
5 Section 5. The Illinois Insurance Code is amended by
6 changing Section 155.57 as follows:
7 (215 ILCS 5/155.57) (from Ch. 73, par. 767.57)
8 Sec. 155.57. Filing, approval and withdrawal of forms.)
9 (a) All policies, certificates of insurance, notices of
10 proposed insurance, applications for insurance, endorsements
11 and riders delivered or issued for delivery in this State and
12 the schedules of premium rates pertaining thereto shall be
13 filed with the Director.
14 (b) The Director shall within a reasonable time after
15 the filing of any such policies, certificates of insurance,
16 notices of proposed insurance, applications for insurance,
17 endorsements and riders, disapprove any such form if the
18 benefits provided therein are not reasonable in relation to
19 the premium charge, or if it contains provisions which are
20 unjust, unfair, inequitable, misleading, deceptive or
21 encourage misrepresentation of the coverage, or are contrary
22 to any provision of the Insurance Code or of any rule or
23 regulation promulgated thereunder.
24 (c) If the Director notifies the insurer that the form
25 is disapproved, it is unlawful thereafter for such insurer to
26 issue or use such form. In such notice, the Director shall
27 specify the reason for his disapproval and state that a
28 hearing will be granted within 20 days after request in
29 writing by the insurer. No such policy, certificate of
30 insurance, notice of proposed insurance, nor any application,
31 endorsement of rider, shall be issued or used until after it
-2- SDS/bill0035/bkp
1 has been so filed and the Director has given his prior
2 written approval thereto.
3 (d) The Director may at any time, after giving not less
4 than 20 days prior written notice to the insurer, withdraw
5 his approval of any such form on any ground set forth in
6 subsection (b) above. The written notice of withdrawal shall
7 state the reason for the action. The insurer may request a
8 hearing within 10 days after receipt of the notice of
9 withdrawal by giving the Director written notice of such
10 request, together with a statement of its objections. The
11 Director must then conduct a hearing in accordance with
12 Sections 402 and 403. The withdrawal shall be stayed pending
13 the issuance of the Director's orders following the hearing.
14 However, if it appears to the Director that the continued
15 use of any such policy, certificate of insurance, notice of
16 proposed insurance, application for insurance, endorsement or
17 rider by an insurer is hazardous to its policyholders or the
18 public, the Director may take such action as is prescribed by
19 Section 401.1.
20 (e) It is not lawful for the insurer to issue such forms
21 or use them after the effective date of such withdrawal.
22 (f) If a group policy of credit life insurance or credit
23 accident and health insurance has been or is delivered in
24 another State before or after September 10, the effective
25 date of this amendatory Act of 1975, the insurer shall be
26 required to file only the group certificate and notice of
27 proposed insurance delivered or issued for delivery in this
28 State as specified in subsections (b) and (d) of Section
29 155.57 of this Article and such forms shall be approved by
30 the Director if they conform with the requirements so
31 specified in said subsections and if the schedules of premium
32 rates applicable to the insurance evidenced by such
33 certificate or notice are not in excess of the insurer's
34 schedules of premium rates filed with the Director; provided,
-3- SDS/bill0035/bkp
1 however, the premium rate in effect on existing group
2 policies may be continued until the first policy anniversary
3 date after September 10, following the effective date of this
4 amendatory Act of 1975.
5 (g) Any order or final determination of the Director
6 under the provisions of this section shall be subject to
7 judicial review.
8 (Source: P.A. 79-930.)