Illinois Compiled Statutes 215 Insurance: Article VIII 1/4 - Risk Management And Own Risk And Solvency Assessment

• Illinois Insurance Code. - 215 ILCS 5, Section 129
  Short title. This Article may be cited as the Risk Management and Own Risk and Solvency Assessment Law. (Source: P.A. 98-910, eff. 7-1-15.)
• Illinois Insurance Code. - 215 ILCS 5, Section 129.1
  Purpose and scope. The purpose of this Article is to provide the requirements for maintaining a risk management framework and completing an own risk and...
• Illinois Insurance Code. - 215 ILCS 5, Section 129.2
  Definitions. In this Article: "Insurance group", for the purpose of conducting an ORSA, means those insurers and affiliates included within an insurance holding company system...
• Illinois Insurance Code. - 215 ILCS 5, Section 129.3
  Risk management framework. An insurer shall maintain a risk management framework to assist the insurer with identifying, assessing, monitoring, managing, and reporting on its material...
• Illinois Insurance Code. - 215 ILCS 5, Section 129.4
  ORSA requirement. Subject to Section 129.7 of this Code, an insurer, or the insurance group of which the insurer is a member, shall regularly conduct...
• Illinois Insurance Code. - 215 ILCS 5, Section 129.5
  ORSA summary report. (a) Upon the Director's request, and no more than once each year, an insurer shall submit to the Director an ORSA summary...
• Illinois Insurance Code. - 215 ILCS 5, Section 129.6
  Contents of ORSA summary report. (a) The ORSA summary report shall be prepared consistent with the ORSA Guidance Manual, subject to the requirements of subsection...
• Illinois Insurance Code. - 215 ILCS 5, Section 129.7
  Exemption. (a) An insurer shall be exempt from the requirements of this Article if: (1) the insurer has annual direct written and unaffiliated assumed premium,...
• Illinois Insurance Code. - 215 ILCS 5, Section 129.8
  Confidentiality. (a) Documents, materials, or other information, including the ORSA summary report, in the possession or control of the Department that are obtained by, created...
• Illinois Insurance Code. - 215 ILCS 5, Section 129.9
  Sanctions. Any insurer failing, without just cause, to timely file the ORSA summary report as required in this Article shall be required, after notice and...

Last modified: February 18, 2015