Exams / Illinois Life Insurance Producer License / 215 ILCS 5/155.24

215 ILCS 5/155.24 — what it says, and how the exam tests it

This section is cited by 4 of our practice questions and is tested on 5 exams including the Illinois Life Insurance Producer License.

The text

215 ILCS 5/155.24. (from Ch. 73, par. 767.24) Sec. 155.24. Motor Vehicle Theft and Motor Insurance Fraud Reporting and Immunity Law. (a) As used in this Section: (1) "authorized governmental agency" means the Illinois State Police, a local governmental police department, a county sheriff's office, a State's Attorney, the Attorney General, a municipal attorney, a United States district attorney, a duly constituted criminal investigative agency of the United States government, the Illinois Department of Insurance, the Illinois Department of Professional Regulation and the office of the Illinois Secretary of State; (2) "relevant" means having a tendency to make the existence of any information that is of consequence to an investigation of motor vehicle theft or insurance fraud investigation or a determination of such issue more probable or less probable than it would be without such information; (3) information will be "deemed important" if within the sole discretion of the authorized governmental agency such information is requested by that authorized governmental agency; (4) "Illinois authorized governmental agency" means an authorized governmental agency as defined in item (1) that is a part of the government of the State of Illinois or any of the counties or municipalities of this State or any other authorized entity; and (5) For the purposes of this Section and Section 155.23, "insurer" means insurance companies, insurance support organizations, self-insured entities, and other providers of insurance products and services doing business in the State of Illinois. (b) Upon written request to an insurer by an authorized governmental agency, an insurer or agent authorized by an insurer to act on its behalf shall release to the requesting authorized governmental agency any or all relevant information deemed important to the authorized governmental agency which the insurer may possess relating to any specific motor vehicle theft or motor vehicle insurance fraud. Relevant information may include, but is not limited to: (1) Insurance policy information relevant to the motor vehicle theft or motor vehicle insurance fraud under investigation, including any application for such a policy. (2) Policy premium payment records which are available. (3) History of previous claims made by the insured. (4) Information relating to the investigation of the motor vehicle theft…

Public record. Read the full, current section at the official source: www.ilga.gov

How it comes up on the exam

Practice questions written from this section — answers and explanations are in the drill.

  1. Under Section 155.24 of the Illinois Insurance Code, when an insurer suspects a fraudulent act related to a motor vehicle claim and no prior incident report has been made, to whom must the insurer report the suspected act?
    drill Illinois Statutes and Regulations Common to All Lines →
  2. Under Section 155.24 of the Illinois Insurance Code, information furnished pursuant to the Motor Vehicle Theft and Motor Insurance Fraud Reporting and Immunity Law is characterized as which of the following?
    drill Illinois Statutes and Regulations Common to All Lines →
  3. Under Section 155.24 of the Illinois Insurance Code, an insurer that provides information to an authorized governmental agency may request relevant information in return and must receive it within what time frame after the investigation is completed?
    drill Illinois Statutes and Regulations Common to All Lines →

Exams that test this section