State RegulationsIL specificDifficulty 1/5
An Illinois producer relocates the business office to a new city. Under 215 ILCS 5/500-35, what must the producer do?
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Answer & full 3-part explanation (select an option above, or peek)
Why B is correct
Under 215 ILCS 5/500-35, a producer must keep the Director of Insurance advised of a current address of record, so the producer must report a move directly to the Illinois Department of Insurance. Because the Department no longer mails paper renewal notices or licenses, electronic communications and continuing-education tracking all depend on the address on file.
Why the other options are wrong
- A) Relying on insurers to inform the Department is wrong; the duty to report rests on the producer.
- C) An address change does not require a new application or another examination.
- D) A continuing-education provider has no role in updating the producer's address of record with the Department.
Memory hook
New address? Tell the Director, not just the insurers.