DOI Pat Quinn Governor Andrew Boron, Director

Review Requirements Checklists

On November 1, 2010 the Illinois Department of Insurance released Company Bulletin 2010-08, Required Submission and Approval of Actuarial Memorandum and Justification Review Standards for New and Renewal Health Rates. The bulletin established a premium reporting and review process which must be followed on and after December 1, 2010. Two documents accompanied the bulletin. The first was a Rate Filing Actuarial Memorandum, explaining the sections and content required for each rate filing. The second document is the Rate Data Collection Form. This form is an Excel spreadsheet which must be completed and filed through SERFF.

  • Company Bulletin 2010-08 Required Submission and Approval of Actuarial Memorandum and Justification Review Standards for New and Renewal Health Rates - PDF
  • Rate Filing Actuarial Memorandum - PDF
  • Rate Data Collection Form - Excel

On June 10, 2010, the Illinois Department of Insurance released Company Bulletin 2010-04 - Directions For Certified PPACA Compliance Filings, in which the Department provided directions to companies on how to make PPACA-compliant changes to existing policies. Effective August 9, 2010, the Department has provided updated guidance with Company Bulletin 2010-04A. The Department's objective is to ensure Illinois consumers have access to health coverage policies containing the PPACA required mandates.

Effective March 1, 2009, the Illinois Department of Insurance is requesting all filers to submit the applicable Review Requirements Checklist in every filing submitted for review and approval. This requirement is already in place for filings submitted under Company Bulletin 2007-01 (Certification Process), but will be required in all form filings. All citations are hyperlink text and will open with a mouse click.

Effective March 1, 2007, the Department of Insurance has released a speed to market Bulletin directed to all insurance companies licensed to write Class 1 Clause (a) Life Insurance & Annuity policies. The Department of Insurance has reviewed and analyzed existing policy form filing requirements under Illinois law, specifically 215 ILCS 5/143, as well as the Department’s filing procedures, and has assessed alternative ways in which the Department can continue to emphasize protection of Illinois consumers while increasing the efficiency in processing such filings.

Checklists may need to be printed in landscape format.

EXCESS RISK/STOP LOSS FILINGS ARE DONE ON AN INFORMATIONAL BASIS