Illinois Updates Insurance Supplier Diversity Reporting Rules: What Professionals Need to Know for 2026
Illinois has officially refreshed its rules for insurance supplier diversity reporting — and the changes affect nearly every major insurance‑related organization doing business in the state.
On February 6, 2026, the Illinois Department of Insurance (IDOI) released Company Bulletin 2026‑03, replacing its 2024 guidance and outlining how companies must file their annual Supplier Diversity Reports beginning April 1, 2026.
Who Must File?
According to the IDOI, the requirement applies to every company authorized or accredited to do business in Illinois with at least $50 million in total net admitted assets. This includes:
Insurance companies
Health maintenance organizations (HMOs)
Limited health service organizations
Dental service plan corporations
Accredited reinsurers
Certain entities are exempt, such as fraternal benefit societies, domestic captive insurers, qualified group workers’ compensation pools, and Medicare‑only risk‑bearing entities.
Quick Snapshot: Are You Required to File?
Use this quick checklist:
Your organization has at least $50M in admitted assets
You operate or are accredited in Illinois
You are not exclusively a Medicare Part C or D organization
You are not a captive, fraternal, or exempt pool
If this describes you, the Supplier Diversity Report is required.
How Companies Must File Their Reports
The IDOI requires reporting entities to use the official state fillable PDF template located on the Insurance Supplier Diversity webpage. Reports must be submitted through SERFF and marked as publicly accessible under 215 ILCS 5/155.49(b).
For companies operating multiple lines of business, the IDOI allows a single filing — meaning companies writing both property & casualty and life or health business may submit one unified report.
Details Matter: Formatting Requirements for Questions 3–6
The bulletin highlights precise formatting expectations for procurement categories and reporting metrics. These include:
Comma‑separated certification types
Carriage‑return formatting for goals and results
Proper use of commodity codes or procurement identifiers
Relevant symbols (# / $ / %) depending on metric type
Companies within the same holding group may file individually or as a group — but cannot combine assets to meet filing thresholds.
Why This Update Matters
Supplier diversity continues to rise as a strategic and regulatory priority across insurance and financial sectors. Illinois’ refined guidelines reflect a push for increased transparency and more equitable contracting opportunities across the industry.
For professionals in insurance, compliance, procurement, and finance, understanding and correctly completing these requirements is essential. Inaccurate or incomplete filings can lead to regulatory delays and reputational risk.
Want to Read the Full Original Report?
The full story is available via Insurance Business Magazine.
How Cameron Academy Supports Insurance Professionals
As compliance requirements evolve — from licensing rules to reporting obligations — professionals need a reliable, modern, and flexible education partner.
At Cameron Academy, we empower insurance professionals across all 50 states with streamlined licensing courses, continuing education, and real‑time regulatory insights designed to keep you ahead of every update.
Whether you’re advancing your insurance career or expanding your credentials across states, the right education partner makes all the difference. Cameron Academy is here to help you move forward confidently.
More Articles
Getting licensed or staying ahead in your career can be a journey—but it doesn’t have to be overwhelming. Grab your favorite coffee or tea, take a moment to relax, and browse through our articles. Whether you’re just starting out or renewing your expertise, we’ve got tips, insights, and advice to keep you moving forward. Here’s to your success—one sip and one step at a time!
In a landmark decision, the court has preliminarily approved settlement agreements in the commission lawsuits involving real estate companies RE/MAX and Anywhere Real Estate. The agreements require RE/MAX to pay $55 million and Anywhere Real Estate to pay $83.5 million. As part of the settlements, both companies will implement significant policy and practice changes, including the elimination of the requirement for agents to be members of the National Association of Realtors. This change will provide agents with more flexibility and independence in their business practices. The settlements have far-reaching implications for the real estate industry, fostering a more dynamic and customer-centric real estate market.
The housing market saw a remarkable increase in housing starts and permits in October, pointing to a positive industry trend. This surge suggests a growing demand among Americans for homeownership, prompting builders to respond by ramping up their construction efforts. However, builder confidence has been somewhat dampened by elevated mortgage rates. The housing market's performance varied across different regions in the United States, highlighting the diverse nature of the housing market and the various factors influencing construction trends.
CUSO Home Lending has implemented Dark Matter Technologies' advanced Empower loan origination system, revolutionizing the credit union lending process. The Empower system streamlines loan applications, automates document collection and verification, and facilitates seamless communication between borrowers, loan officers, and underwriters. With robust security measures and full compliance with industry regulations, the system ensures the protection of sensitive information. This move highlights the importance of embracing digital transformation in the lending industry.
United Wholesale Mortgage (UWM), a leading wholesale lender in the mortgage industry, has launched a new initiative offering no-cost appraisals on 1-0 temporary rate buydowns. This strategic move aims to attract more brokers by covering up to $600 of the appraisal cost on all conventional and government-backed home loans. Temporary rate buydowns allow borrowers to pay a lower mortgage rate during the initial period of their loans, making homeownership more affordable. This limited-time opportunity until March 31 provides brokers with a unique value proposition for their clients. Ready to explore the benefits of UWM's temporary rate buydowns and no-cost appraisals? Connect with UWM today.
Mark Willis has made a significant leadership change by returning as the CEO of Keller Williams, a leading player in the real estate industry. This news marks a triumphant comeback for Willis, who previously served as the CEO of Keller Williams from 2005 to 2014. Armed with extensive experience and a proven track record, Willis aims to steer Keller Williams towards continued success and navigate the challenges facing the real estate industry. This article will delve into Willis' career history, the growth of Keller Williams under his leadership, and the current landscape of the real estate market.
A recent lawsuit in Texas has sent shockwaves through the real estate industry, shedding light on alleged collusion among individual brokers, real estate teams, and large corporate brokerages. The lawsuit, filed by the QJ Team and other plaintiffs, accuses these entities of artificially inflating real estate agent commissions. The real estate industry has been rocked by a series of commission lawsuits in recent years, but the QJ Team lawsuit stands out due to its comprehensive list of defendants. The QJ Team lawsuit alleges that the defendants engaged in collusion to artificially inflate real estate agent commissions, thereby restricting competition and harming consumers. The plaintiffs claim that these entities conspired to set and maintain high commission rates, limiting the ability of homebuyers and sellers to negotiate fair prices. If proven true, these allegations could have far-reaching consequences for the real estate industry in Texas.
