IL HB1957

Changes the deadline for pools to file independent actuarial opinions on loss reserves from June 1 to March 1 each year under Section 107a.12 of the Illinois Insurance Code.

Amends Section 130.4 to clarify that corporate governance annual disclosures need not duplicate information already provided in proxy statements or other filings, but must cross-reference those documents.

Updates Section 370c.1 to replace references to the "99th General Assembly" with the "102nd General Assembly" regarding mental health parity requirements for insurance policies, and adds "prior to policy issuance" language to parity compliance standards.

Modifies Sections 500-30 and 500-130 to allow pre-licensing classroom instruction to be completed via webinar and corrects terminology from "agent contact" to "agency contract" in bond requirements for insurance producers.

Adds a definition of "webinar" to Section 1510 and updates Section 1565 to allow continuing education ethics instruction to be completed via webinar in addition to classroom settings.