All Insurers : Filings Requiring Director’s Approval Submitted After December 1st of Any Given Year

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Illinois Department of Insurance Company Bulletins › All Insurers : Filings Requiring Director’s Approval Submitted After December 1st of Any Given Year

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# Illinois Department of Insurance

PAT QUINN

Governor

ANDREW BORON

Director

TO: ALL INSURERS

FROM: ANDREW BORON, DIRECTOR OF INSURANCE

AEB

DATE: JANUARY 22, 2014

RE: BULLETIN #2014-01

FILINGS REQUIRING DIRECTOR'S APPROVAL SUBMITTED AFTER DECEMBER 1st OF ANY GIVEN YEAR

This bulletin notifies all insurance companies doing business in Illinois that financial regulatory filings submitted for Director's approval after December 1st of any given year may not be completely processed before December 31st of that year. The Department's review process requires sufficient time to examine the filings, related documents and applicable statutes and regulations in order for the Director to make a determination on whether to accept or approve the filing. In addition, it is sometimes necessary for the Department to request additional information related to a transaction which then requires more time to review. Thirty (30) days may not be sufficient time in which to complete such a review. Companies that require a specific transaction to be reviewed and acted upon by the Department before the end of a calendar year should submit the transaction well before December 1st to increase the likelihood that the review will be completed by the end of the year.

Questions regarding this bulletin may be referred to:

Kevin Fry, Assistant Deputy Director

Illinois Department of Insurance, Financial Regulation

320 W. Washington Street

Springfield, IL 62767

(217) 524-1632

Kevin.Fry@illinois.gov

320 West Washington St.

Springfield, Illinois 62767-0001

(217) 782-4515

This is a copy of a public record, reproduced as it was published. It is not legal advice, and it may not be the version a court would rely on. Check the official source before you cite it.