State RegulationsIL specificDifficulty 1/5
Under the Illinois Insurance Code, which official is responsible for administering the state's insurance laws and supervising the insurance business in Illinois?
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Answer & full 3-part explanation (select an option above, or peek)
Why C is correct
215 ILCS 5/401 vests administration of the Illinois Insurance Code in the Director of Insurance, who supervises the insurance business in Illinois and may make rules and orders to carry the Code into effect. Nearly every producer-facing duty in the Code runs to or through the Director, so licensing, examinations, and enforcement all originate with this office.
Why the other options are wrong
- A) The Attorney General handles general state legal matters but does not administer the Insurance Code; supervisory authority rests with the Director of Insurance.
- B) The Treasurer holds and invests state funds but has no supervisory role over the insurance business under 215 ILCS 5/401.
- D) Illinois has no elected insurance commission; the Insurance Code concentrates administration in a single Director of Insurance.
Memory hook
One Director runs the Code — not a commission, not the AG.