All Domestic Insurers : Company Bulletin 2020-01 Corporate Governance Annual Disclosure (CGAD) Filing CGAD Template

Springfield Office 320 W. Washington Street Springfield, Illinois 62767 (217) 782-4515 Chicago Office 122 S. Michigan Ave., 19th Floor Chicago, Illinois 60603 (312) 814-2420 Illinois Department of Insurance JB PRITZKER Governor ROBERT H. MURIEL Director TO: All Domestic Insurers FROM: Robert Muriel, Director of Insurance DATE: 2/7/2020 RE: Company Bulletin 2020-01 Corporate Governance Annual Disclosure (CGAD) Filing Article VIII 1/3 of the Illinois Insurance Code (215 ILCS 5/Article VIII.33) requires insurers or insurance groups to provide the Director a summary of the insurer’s or insurance group’s corporate governance structure, policies, and practices to permit the Director to gain and maintain an understanding of the insurer’s corporate governance framework. “Insurer” is defined as an insurance or surety company and shall be deemed to include a corporation, company, partnership, association, society, order, individual or aggregation of individuals engaging in or proposing or attempting to engage in any kind of insurance or surety business, including the exchanging of reciprocal or inter-insurance contracts between individuals, partnerships and corporations, except that it does not include agencies, authorities, or instrumentalities of the United States, its possessions and territories, the Commonwealth of Puerto Rico, the District of Columbia, or a state or political subdivision of a state. Some entities regulated by the Department do not meet the definition of insurer, including, but not limited to, HMOs that are not licensed as insurers, farm mutuals, group workers’ compensation pools, and religious and charitable risk pooling trusts. The associated regulation is currently in process and once completed, it will include specific directions for the filing. Until that time, the Department has provided a CGAD template to assist insurers with this filing requirement. Companies may choose to utilize this template, or they can use their own format for reporting purposes so long as the information required to be provided pursuant to Article VIII.33 is included in the filing. The template can be found on the Department’s website at: http://insurance.illinois.gov/cb/2020/CB2020-01-CGAD-template.pdf The first CGAD submission is due to the Illinois Department of Insurance by June 1, 2020. The filing should be directed to Susan Berry at susan.berry@illinois.gov or 320 W. Washington St., Springfield, IL 62767. The filing should not be submitted via SERFF.