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Regulation and Compliance > State Regulation

Illinois Wins Independence

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Insurance regulators in a Midwestern state once again have their own stand-alone department.

The Illinois Division of Insurance has split off from the Illinois Department of Financial and Professional Regulation and become the Illinois Department of Insurance.

Illinois had folded the old insurance department into the financial regulation department in connection with a 2004 consolidation effort. Illinois Gov. Pat Quinn, D, signed an executive order putting insurance regulation back in a separate department.

Insurance industry assessments will continue to fund insurance regulatory operations, officials say.