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!
United Real Estate is revolutionizing the real estate industry with its innovative approach to empowering agents and bridging the value gap. The company's Bullseye Lead Boost Program aims to transform the lead generation process, giving agents more control over their leads and ensuring they get the most value out of their investment. United Real Estate also provides comprehensive support and resources to franchisees, helping them maximize their returns in the competitive real estate market. Learn more about this innovative approach at Cameron Academy.
Fannie Mae, the government-sponsored enterprise (GSE), recently announced the launch of innovative programs and resources aimed at tackling the homeownership gap experienced by the Latino community. These initiatives are designed to provide responsible access to housing and long-term sustainable homeownership opportunities. In an effort to promote homeownership among Latinos, Fannie Mae is implementing the HomeReady® Hispanic Centric Approach, a program tailored to meet the unique needs of this community. This initiative offers flexible underwriting guidelines and low down payment options, making homeownership more attainable for qualified Latino borrowers. Furthermore, Fannie Mae is expanding its downpayment assistance program, providing financial support to eligible homebuyers. This expansion aims to help more Latino families overcome the challenge of saving for a down payment, turning their dreams of homeownership into a reality.
This comprehensive report delves into the ongoing demands for change within the National Association of Realtors (NAR) following allegations of sexual harassment and a toxic work environment. The demands include the resignation of top leaders, the implementation of a third-party human resources reporting system, and an independent review of the organization's policies and procedures. We will also explore the response from NAR and the advocacy efforts of the NAR Accountability Project. This report aims to provide a thorough analysis of the situation and shed light on the need for accountability and a more inclusive work culture.
The mortgage market experienced a significant uptick in rates last week, with figures inching closer to the annual high of 7.49%. This unexpected surge has raised concerns among potential homebuyers and industry experts alike. The recent rise in mortgage rates can be attributed to two key factors: a hawkish Federal Reserve meeting and robust jobless claims data. Despite the overall upward trajectory, mortgage rates found some relief towards the end of the week as bond yields began to decline. This reversal offered a glimmer of hope for potential homebuyers, suggesting that rates may stabilize in the near future. However, market volatility and external factors remain influential, warranting cautious optimism.
California is implementing new rules for homeowners insurance carriers to address challenges faced by insurance companies and provide homeowners with more options. The proposed changes aim to retain insurance companies within the state, ensuring a stable insurance market and offering homeowners a wider range of coverage choices. These changes come in response to the departure of major insurance companies and the increased enrollment in the California FAIR Plan. The proposed changes would allow insurers to consider climate change and reinsurance costs when setting their rates. However, they would still require permission from the state to make rate adjustments.
The housing market is currently grappling with a significant decline in pending-home sales due to the surge in mortgage rates and home prices. A recent report from Redfin reveals a 13% drop in pending-home sales compared to the previous year, underscoring the hurdles faced by potential homebuyers. The affordability crisis in the housing market continues to escalate as mortgage rates and home prices hit record highs. The combination of these factors has led to an unprecedented increase in monthly housing payments, making it increasingly challenging for prospective homebuyers to enter the market.
