The Illinois Department of Insurance (DOI) on June 1 resumed its status as an independent department of state government, a position it held for more than a century prior to its consolidation with several other state agencies in 2004, Director Michael T. McRaith announced.
Gov. Pat Quinn with Executive Order 4 re-established the DOI as a regulatory agency separate from the Illinois Department of Financial and Professional Regulation.
Both the Illinois House and Senate approved legislation re-establishing DOI as a separate department, as well.
The DOI’s operations will continue to be funded through assessments on the insurance industry rather than from the state’s general revenue fund.
With the change, the department launched a new Web site, insurance.illinois.gov, which covers all insurance topics and features a new search tool powered by Google.
Source: Illinois Department of Insurance, insurance.illinois.gov
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