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IDOI Publishes Auto Insurers' Data Related to Premiums and Profits During the COVID-19 Pandemic and

Chicago - The Illinois Department of Insurance (IDOI) released data on auto insurance premiums paid by Illinois consumers to insurance companies before and during the COVID-19 pandemic (January 1, 2019, through December 31, 2021). The data collected from companies included claims and losses. IDOI is pursuing legislation with members of the General Assembly to increase transparency and accountability in its work to regulate insurance companies.


Specifically, the proposed legislation will clarify and strengthen the Department's authority when using critical regulatory tools such as, market conduct examinations to investigate the market conduct and practices of insurance companies and data calls to request data from insurance companies. Specifically, it allows IDOI to publicly acknowledge that an insurance company is undergoing a market conduct exam and publish certain data collected during data calls. The proposal also more clearly establishes the Director's authority to impose fines, penalties, and corrective actions due to Illinois Insurance Code violations discovered in the market conduct examination process.


"Consumer protection is one of the most important roles of the Department, and the proposed legislation would further strengthen our authority to hold insurers accountable for treating consumers fairly, whether it relates to insurance premiums, or claims and billing practices," said IDOI Director Dana Popish Severinghaus. "We continue to demand transparency for consumers, and we will not allow companies to withhold information to serve their own interests instead of doing what's best for Illinois insurance consumers."


"Insurance companies doing business in Illinois cannot simply ignore the authority of our state's regulatory agency," said Senator Jacqueline Collins. "We intend for this legislation to make clear the Department's regulatory authority to conduct examinations, collect data, and give the public access to important information."


"Moments of crisis are revealing: auto insurers took the opportunity provided by the pandemic to overcharge their customers and make windfall profits, said Abraham Scarr, Director, Illinois PIRG & Illinois PIRG Education Fund. "We thank the Department of Insurance and Gov. Pritzker for using their authority to get this data, and call on the Illinois General Assembly to give the Department greater authority to protect Illinois consumers."


The COVID-19 Auto Data Call results are posted on IDOI's website to allow the public to review insurance company data related to the premium and loss results for private passenger automobile lines of business during the period of January 1, 2019 through December 31, 2021.