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Department of Insurance - RG 204 | Illinois State Archives

Name: Department of Insurance - RG 204

Historical Note:

Foreign insurance company agents first were required to procure licenses to sell policies in 1841. These agents for out-of-state based companies applied to the State Treasurer and were required to post $1,000 bonds with that office (L. 1841, pp. 180-181). Legislation enacted in 1855 required foreign companies to obtain certification to conduct business within the state from the Auditor of Public Accounts. To obtain this authorization foreign companies had to file annual statements specifying their assets, liabilities, act of incorporation, charter and bylaws, officers, and corporate address. Any individual making false representations was subject to a fine of up to $1,000, confinement in the county jail for a period up to thirty days on a regimen of bread and water, or both (L. 1855, pp. 46-48).

Domestic insurance companies were required to make annual reports to the Auditor beginning in 1869. The Auditor was required to examine reports annually and issue certification renewals (L. 1869, pp. 209-213). A law enacted in 1893 established the Insurance Department of the State of Illinois headed by the superintendent of insurance who was appointed by the Governor with the approval of the Senate. This new department was charged with executing all laws then in force relating to insurance and insurance companies organized in or doing business within the state (L. 1893, p. 107).

The Civil Administrative Code of 1917 reduced the insurance department to a division under the Department of Trade and Commerce (L. 1917, p. 6). But the restructured administrative code of 1933 restored the Department of Insurance as an independent agency under the Governor’s office (L. 1933, p. 1074-1075).

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