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92_HB4989eng HB4989 Engrossed LRB9213175JSpc 1 AN ACT relating to insurance. 2 Be it enacted by the People of the State of Illinois, 3 represented in the General Assembly: 4 Section 5. The Illinois Insurance Code is amended by 5 changing Section 1001 and adding Section 1023.5 as follows: 6 (215 ILCS 5/1001) (from Ch. 73, par. 1065.701) 7 Sec. 1001. Purpose. The purpose of this Article is to 8 establish standards for the collection, use and disclosure of 9 information gathered in connection with insurance 10 transactions by insurance institutions, agents or 11 insurance-support organizations; to maintain a balance 12 between the need for information by those conducting the 13 business of insurance and the public's need for fairness in 14 insurance information practices, including the need to 15 minimize intrusiveness; to establish a regulatory mechanism 16 to enable natural persons to ascertain what information is 17 being or has been collected about them in connection with 18 insurance transactions and to have access to such information 19 for the purpose of verifying or disputing its accuracy; to 20 limit the disclosure of information collected in connection 21 with insurance transactions; and to enable insurance 22 applicants and policyholders to obtain the reasons for any 23 adverse underwriting decision. Further, this Article shall 24 grant the Director the authority to enforce Title V of the 25 Gramm-Leach-Bliley Act (Public Law 106-102, 106th Congress). 26 (Source: P.A. 81-1430.) 27 (215 ILCS 5/1023.5 new) 28 Sec. 1023.5. Federal privacy protections. 29 (A) In addition to the requirements of this Article, 30 licensees shall comply with the privacy protection provisions HB4989 Engrossed -2- LRB9213175JSpc 1 of Title V of the federal Gramm-Leach-Bliley Act (Public Law 2 106-102, 106th Congress). 3 (B) The Director shall have authority to enforce the 4 requirements of the privacy protection provisions of Title V 5 of the federal Gramm-Leach-Bliley Act, employing powers 6 granted to him under this Article and this Code. 7 (C) The Director shall make reasonable rules as may be 8 necessary to make effective the privacy provisions of Title V 9 of the federal Gramm-Leach-Bliley Act (Public Law 106-102, 10 106th Congress). 11 (D) For purposes of this Section, "licensee" means all 12 insurers, insurance producers, and other persons licensed or 13 required to be licensed, authorized or required to be 14 authorized, registered or required to be registered, or 15 domiciled, pursuant to this Code or any other insurance law 16 of this State administered by the Department. "Licensee" 17 also includes unauthorized insurers who accept business 18 placed through a licensed surplus line producer in this 19 State, but only in regard to the surplus line placements 20 placed pursuant to Section 445 of this Code. However, this 21 Section does not apply to "service contract providers" as 22 defined by the Service Contract Act. 23 Section 99. Effective date. This Act takes effect upon 24 becoming law.