(215 ILCS 5/1001) (from Ch. 73, par. 1065.701)
Sec. 1001.
Purpose.
The purpose of this Article is to establish standards
for the collection, use and disclosure of information gathered in connection
with insurance transactions by insurance institutions, agents or
insurance-support
organizations; to maintain a balance between the need for information by
those conducting the business of insurance and the public's need for fairness
in insurance information practices, including the need to minimize
intrusiveness;
to establish a regulatory mechanism to enable natural persons to ascertain
what information is being or has been collected about them in connection
with insurance transactions and to have access to such information for the
purpose of verifying or disputing its accuracy; to limit the disclosure
of information collected in connection with insurance transactions; and
to enable insurance applicants and policyholders to obtain the reasons for
any adverse underwriting decision. Further, this Article shall grant the
Director the authority to enforce Title V of the Gramm-Leach-Bliley Act (Public
Law 106-102, 106th Congress).
(Source: P.A. 92-556, eff. 6-24-02.)
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