IL | The Illinois Department of Insurance has issued Company Bulletin 2023-15. This Bulletin serves as notice that the Governor has signed SB 765 into law with immediate effect. Accordingly, all companies subject to the Farm Mutual Insurance Company Act of 1986 (215 ILCS 120/10), reinsurance companies operating under Article XI of the Insurance Code, and reinsurance brokers should proceed expeditiously in securing reinsurance contracts and coverage compliant with the requirements set forth in the Act.
Additionally, this Bulletin provides further clarification to the changes to the Farm Mutual Insurance Company Act.
