State RegulationsIL specificDifficulty 1/5
Within the Illinois Insurance Code, what is the significance of 215 ILCS 5/364?
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Answer & full 3-part explanation (select an option above, or peek)
Why D is correct
215 ILCS 5/364 is the accident and health-specific unfair practices provision of the Illinois Insurance Code. It sits within the Code's unfair-trade-practices architecture alongside the general misrepresentation and unfair methods provisions, and it gives the Director of Insurance a statutory basis to police improper conduct in the marketing and servicing of accident and health coverage.
Why the other options are wrong
- A) Guaranty association coverage caps are set in 215 ILCS 5/531.01 through 5/531.19, not in 215 ILCS 5/364.
- B) Premium tax rates are tax provisions, not part of the unfair practices article.
- C) Health maintenance organizations are governed by the HMO Act at 215 ILCS 125, a separate statute.
Memory hook
364 = A&H's own no-no list in the Illinois Insurance Code.