SB1479 Summary

• Restructures Illinois insurance market conduct examinations by creating formal distinctions between "market analysis" (baseline marketplace data collection) and "market conduct actions" (targeted regulatory investigations).

• Establishes detailed examination procedures including mandatory 30-day pre-examination conferences, draft report review periods, and limits discovery to relevant work papers only.

• Requires itemized monthly billing for market conduct examination costs and advance disclosure of contracted professionals' fees and hourly rates to examined entities.

• Creates new confidentiality protections for self-evaluative compliance audit documents while permitting the Director to aggregate and publish data call results without identifying specific companies.

• Modifies pharmacy benefit manager and administrator examinations to follow market conduct procedures under Sections 132-132.7, preventing examination findings against parent companies unless they participate in the examination.