Illinois: NAMIC Comments on New Supplier Diversity Proposed Rules

NAMIC provided a comment letter Feb. 9 to the Illinois Department of Insurance on its supplier diversity proposed rules. The proposed rules are in response to HB 2088, which became effective Jan. 1, 2024.

In the letter, NAMIC submitted a number of questions about the proposed rules, including clarification on companies’ total assets and a definition for “admitted assets” and the purpose of requesting that information.

The association also requested a submission deadline extension to allow companies the opportunity to provide more accurate data. The current deadline is April 1, 2024.