State RegulationsIL specificDifficulty 1/5
Which provision of the Illinois Insurance Code is cited for 'other unfair practices' beyond the specifically catalogued unfair trade practices?
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Answer & full 3-part explanation (select an option above, or peek)
Why D is correct
215 ILCS 5/424 is the provision addressing other unfair or deceptive practices in the business of insurance. The other citations cover different subjects entirely: life policy standard provisions, producer fiduciary funds, and Medicare supplement regulation.
Why the other options are wrong
- A) 215 ILCS 5/224 sets the standard provisions for individual life policies, not the general unfair-practices catchall.
- B) 50 Ill. Adm. Code 3113 governs producers' fiduciary handling of premium funds.
- C) 215 ILCS 5/363 governs Medicare supplement policies and their open-enrollment and disclosure rules.
Memory hook
Four-two-four takes what the catalogue ignores.