Compliance/Regulatory Notice

Thursday, September 21, 2017

Recent regulation changes are sure to raise questions for employers who are thinking about offering paid family leave. In an interview with Employee Benefit Adviser, Breanna Scott, director of product and service development at The Standard, explains that paid family leave regulations vary by state, and a key way brokers can set themselves apart is by monitoring these statutory changes and advising clients accordingly. Read the full article, “10 Questions to Prepare Clients for Paid Family Leave Compliance.”

 

Thursday, July 20, 2017

Cook, Kane, Lake and McHenry Counties

The Standard acknowledges the flooding disaster in Illinois, and we will implement the following measures immediately.

We will withdraw any cancellation or nonrenewal notice issued on or after July 12, 2017, on any in-force policy issued to an affected policyholder. In addition, we will not issue any new cancellation or nonrenewal notices to affected policyholders until Sept. 30, 2017, or a later time if deemed reasonable.

We will grant affected policyholders an extension of any and all policy provisions or other requirements that impose a time limit for an insured or claimant to perform any act, including the submission of a claim or proof of loss, reporting of information, submission of bills or payment of funds. Such extension shall be for a minimum of 60 days from the last date allowed or required under the terms of the contract or allowed or required by the insurer, or longer if deemed reasonable.

We will consider exceptions to policy or contract requirements, or to other rating or underwriting rules not otherwise listed herein, when such contractual requirements or rating or underwriting rules are not met as a result of this disaster.

Illinois consumers can work with the Department of Insurance for filing a complaint regarding any disaster-related dispute or issue. Consumers can call the Department's toll-free complaint hotline at 1-866-445-5364, or file a complaint online at mc.insurance.illinois.gov/messagecenter.nsf.

 

Tuesday, January 5, 2016

Alexander, Calhoun, Cass, Christian, Clinton, Cumberland, Douglas, Iroquois, Jackson, Jersey, Lawrence, Madison, Marion, Menard, Monroe, Morgan, Moultrie, Pike, Randolph, Richland, Sangamon, St. Clair and Vermilion Counties

The Standard acknowledges the declared state of emergency in Illinois, and we will provide an additional 60 days for insureds to respond, transmit funds (including premium payments), or perform an act that otherwise would have been required in the month of December 2015 as it relates to time limits imposed under insurance policies, notices or provisions of law. As a result, The Standard will not cancel or nonrenew a policy or contract of insurance between December 29, 2015 and February 29, 2016. The Standard will re-issue any notice, including notices of cancellation or nonrenewal that was originally issued on or after December 29, 2015. These notices cannot be re-issued before February 29, 2016, and any re-issued notice of cancellation or nonrenewal must comply with Illinois law, including advance notice requirements before effecting cancellation or nonrenewal of coverage.

Illinois consumers can work with the Department of Insurance for filing a complaint regarding any disaster-related dispute or issue. Consumers can call the Department's toll-free complaint hotline at 1-866-445-5364, or file a complaint online at mc.insurance.illinois.gov/messagecenter.nsf.