Illinois Property Laws and Regs

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Illinois Property Laws and Regs who appoints the insurance director - ANS - the governor ____has the power and duty to to enforce and execute the insurance was of Illinois and is appointed by the gov - ANS - insurance director ___makes reasonable rules and regs as necessary - ANS - insurance director _____conducts investigations to determine if any person has violated any insurance law - ANS - insurance director conducts examinations, investigations, and hearings as necessary to administer law - ANS - insurance director subpoena and examine witnesses under oath during examinations witnesses under oath during examinations, investigations and hearings. - ANS - insurance director institute any action or legal proceeding to enforce insurance laws or the directors actions - ANS - insurance director issue licenses for insurance producers, and certificates of authority for insurance companies, permitting them to transact business in illinois - ANS - insurance director issue and serve a cease and desist order on any person or company whose actions are illegal, threaten its solvency, or that endanger policy holders - ANS - insurance director 1. Approve all policy forms, but cannot approve or disapprove premium rates on most types of insurance.2. Create rules and regulations that support the law.3. Conduct investigations, examinations and audits to determine if the law has been violated.4. Take action to enforce the law, such as, issuing fines, revoke or suspend a license or deny an application for a license.5. Refer a case to the State Attorney General for criminal prosecution in a court law. - ANS - powers and duties of the director the director is not empowered to do what - ANS - adjust claims act as a judge in a lawsuit involving claims advise any insured of any legal action to be taken against the insurer, or make any state law Cease ad Desist Orders when a cease and desist order is served, the _____ must issue a notice that a hearing is to be held within _______ days of the notification date - ANS - director 20-30 Cease and Desist Orders if after a hearing any statements in the notice are found not to be true, the ____may make order to do what - ANS - director correct, eliminate, or remedy the illegal or improper conduct, conditions or grounds any person violating a *cease and desist order* or circuit court order must pay a fine of what amount? what else may happen? - ANS - 100 per day to a total of 5,000 the license or certificate of authority of a producer or insurer will be revoked any person violating a cease and desist order pertaining to an unfair trade practice may be fined up to ____ per violation - ANS - 1000 the director may take all of the following actions except -make reasonable rules and regulation to enforce the insurance code

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