Notice from Illinois Department of Insurance Regarding Best Practices for License Applications

The Illinois Department of Insurance issued a reminder last week regarding how to properly fill out background questions to reduce issues and delays with the application process.

Background questions for insurance producer license and registration applications ask if the applicant has ever been convicted of misdemeanors, felonies, military offenses, or administrative proceedings, including FINRA sanctions or arbitrations regarding any professional or occupational license or registration.

It is important to note that responding incorrectly to any question with a "No" may be of greater concern to the Department than answering honestly with a "Yes" response to any of these questions. The Department will evaluate specific circumstances of any "Yes" answer on a case-by-case basis. The Department also has access to all regulatory actions reported to the NAIC, which is queried and reviewed automatically for every application.

This notice is specifically directed to prospective license applicants. Those carriers assisting with their agent's filing should also be aware.

If you have any questions or concerns, please review the bulletin issued by the Illinois Department of Insurance, or contact your company licensing staff or the Department.

Posted: August 24, 2022

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