reglab/statecodes huggingface dataset:
Illinois Administrative Code › Title 50 - INSURANCE › Part 2500 - FEES, CHARGES AND TAXES › Section 2500.90 - Fees and Charges

Current through Register Vol. 48, No. 28, July 12, 2024
a) The Director
			 shall charge and collect the payment of fees and charges pursuant to Section
			 408(1) and 500-35(d) of the Code.
b) If any person, company or business entity
			 issues a check or other draft to the Director as required by the Code, and that
			 check or draft is not honored, the Director may charge a fee or other charges
			 as authorized by Section 3-806 of the Uniform Commercial Code [810 ILCS 5].
1) The Department will send a written demand
			 by certified mail, return receipt requested, to the last known address of the
			 person, company or business entity having issued the dishonored check or other
			 draft.
2) Within 14 days following
			 payment of both the Code fee and the Not Sufficient Funds (NSF) check fee, the
			 Director may issue to the named person, company or business entity a license or
			 other authority or may take regulatory action.
3) Any person, company or business entity who
			 fails to satisfy the written demand may be subject to regulatory
			 action.
Illinois Administrative Code › Title 50 - INSURANCE › Part 2500 - FEES, CHARGES AND TAXES › Section 2500.100 - Annual Privilege Tax

Current through Register Vol. 48, No. 28, July 12, 2024
a) The Department
			 shall collect an annual privilege tax from companies that write certain types
			 of insurance pursuant to Section 409 of the Code.
b) The "aggregate income taxes paid",
			 calculated pursuant to Section 409(2)(a), shall be reduced by any corporate and
			 replacement income tax cash refunds received in that same calendar year if that
			 cash refund had been considered part of the aggregate income taxes paid for an
			 offset calculation taken in a preceding calendar year. If no deduction was
			 taken in which the corporate and replacement income tax cash refund received
			 was part of the aggregate income taxes paid, then the aggregate income taxes
			 paid for the calendar year in which that corporate and replacement income tax
			 cash refund is received shall not be reduced by that tax cash refund
			 amount.
c) Pursuant to Section
			 409(5) of the Code, if the company is part of a State income tax unitary group,
			 each individual company's State aggregate income taxes paid shall be calculated
			 as follows:
1) The income tax offset
			 allocation of each individual unitary member will be based on the percentage of
			 that unitary member's net income compared to the total net income of all
			 unitary members within that unitary group. "Net income", for purposes of this
			 calculation, means net sales within Illinois, non-unitary or combined
			 partnership business income or loss, and net income or loss of members who are
			 not C Corporations, as reported on the Schedule UB Step 4 of the IL 1120 filed
			 for the preceding year. That net income percentage is then multiplied by the
			 unitary group's amount of the corporate and replacement income taxes paid in
			 the calendar year, less the unitary group's tax cash refunds received in that
			 same calendar year, if that tax cash refund had been considered part of the
			 aggregate income taxes paid for an offset calculation and resulted in a
			 deduction taken in a preceding calendar year multiplied by that company's
			 allocation percentage.
2) Each
			 company may only use its allocated portion for the determination of the
			 aggregate income tax deduction and may not transfer any allocated aggregate
			 income taxes to another company or carry forward to another year.
Illinois Administrative Code › Title 50 - INSURANCE › Part 2500 - FEES, CHARGES AND TAXES › Section 2500.110 - Annual Retaliatory Tax

Current through Register Vol. 48, No. 28, July 12, 2024
a)
			 Pursuant to Section 444 of the Code, foreign and alien companies are required
			 to pay a retaliatory tax in the amount of the difference between the sum of the
			 state of incorporation's basis minus the sum of the State of Illinois' basis,
			 if the resulting amount is a positive number.
1) For calendar years starting January 1,
			 1998 and thereafter, the State of Illinois' basis is the sum of the amounts
			 actually paid for the following items:
A)
			 Annual Statement Filing Fee;
B)
			 Certificate of Authority Fee;
C)
			 Financial Regulation Fee;
D) Policy
			 Form Filing Fee;
E) The amount of
			 Illinois corporate and replacement income tax, decreased by the amount, if any,
			 of any corporate and replacement income tax cash refund received in the same
			 calendar year, if that cash refund had been considered part of the amount of
			 Illinois corporate and replacement income tax paid in the calculation of the
			 annual retaliatory tax in a preceding year;
F) Fire Department tax;
G) Annual Privilege tax;
H) State Fire Marshal tax paid pursuant to
			 Section 12 of the Fire Investigation Act; and
I) Other insurance fees paid pursuant to
			 Section 408 of the Code.
Illinois Administrative Code › Title 50 - INSURANCE › Part 2500 - FEES, CHARGES AND TAXES › Section 2500.115 - State Fire Marshal Tax

Current through Register Vol. 48, No. 28, July 12, 2024
The Annual State Fire Marshal Tax assessed by the Department
				pursuant to Section 12 of the Fire Investigation Act [425 ILCS 25] shall be 1%
				of a company's or other entity's taxable fire premium. "Taxable fire premium"
				means the gross fire, sprinkler leakage, riot, civil commotion, explosion, and
				motor vehicle fire risk premium receipts from business done in the State of
				Illinois during the preceding year (see Section 12 of the Fire Investigation
				Act).
a) The taxable fire premium for
			 a year is calculated for insurance companies by totaling the direct premium
			 calculation for the following lines of business as reported in the Annual
			 Statement filed pursuant to Section 136 of the Code:
1) 100% Fire direct premium less any Illinois
			 FAIR Plan premiums;
2) 25% of the
			 sum of Allied Lines direct premium less any Illinois FAIR Plan
			 premiums;
3) 1% of Private Crop
			 direct premium;
4) 40% of Farm
			 Owners M.P. direct premium;
5) 40%
			 of the sum of Homeowners M.P. direct premium less any Illinois FAIR Plan
			 premiums;
6) 40% of Commercial M.P.
			 (Non-Liability Portion) direct premium;
7) 15% of Ocean Marine direct
			 premium;
8) 15% of Inland Marine
			 direct premium;
9) 25% of
			 Earthquake direct premium;
10) 5%
			 of Private Passenger Auto Physical Damage direct premium;
11) 5% of Commercial Auto Physical Damage
			 direct premium; and
12) 10% of
			 Aircraft (All Perils) direct premium.
Illinois Administrative Code › Title 50 - INSURANCE › Part 2500 - FEES, CHARGES AND TAXES › Section 2500.120 - Overpayments and Amendments

Current through Register Vol. 48, No. 28, July 12, 2024
a) Pursuant
			 to Section 412(1)(a) of the Code, persons and companies are only entitled to a
			 refund or offset if the overpayment occurred during the 6 year period
			 immediately preceding the discovery of the overpayment. The discovery of the
			 overpayment is the date when an amended tax return is filed with the Department
			 pursuant to subsection (b), or when a written detailed description regarding
			 the overpayment is filed with the Department pursuant to subsection
			 (c).
b) An overpayment of tax shall
			 be reported by the filing of an amended tax return.
1) An amended return shall be made by filing
			 a copy of the original return that shows the amendments and includes
			 explanations for those amendments.
2) Adjustments (e.g., cash refunds or
			 additional cash payments of prior income or fire department taxes paid) shall
			 be accounted for in the year paid or when issued a cash refund and shall not be
			 the basis for amending a previous privilege or retaliatory tax
			 return.
3) Any overpayment
			 adjustment requested for the amount of fire department taxes or aggregate
			 income taxes paid may not exceed the amount of privilege or retaliatory tax
			 owed in the year the aggregate income tax or fire department tax was paid and
			 for which the overpayment adjustment is now being sought.
Illinois Administrative Code › Title 50 - INSURANCE › Part 2500 - FEES, CHARGES AND TAXES › Section 2500.130 - Cash Refunds

Current through Register Vol. 48, No. 28, July 12, 2024
a) The written
			 request for a cash refund must include the following information in addition to
			 any other appropriate supporting documentation:
1) The company's name, including the
			 company's FEIN;
2) The cash refund
			 amount being requested;
3) A
			 statement of reasons why the overpayment was generated; and
4) A certification of an officer of the
			 company that the provided information in the written request is true and
			 accurate to the best of his/her knowledge.
Illinois Administrative Code › Title 50 - INSURANCE › Part 2500 - FEES, CHARGES AND TAXES › Section 2500.140 - Transfer of Overpayments

Current through Register Vol. 48, No. 28, July 12, 2024
An overpayment may be transferred in whole or in part to
				another company upon written approval of the Director. The approval may be an
				adjustment invoice, letter of credit, or signed Notice of Transfer of
				Overpayment form. The company or person shall provide a written notice to
				transfer that includes the following information:
a) The name of the company that is
			 transferring the overpayment, including that company's FEIN;
b) The amount of the overpayment being
			 transferred;
c) The name of the
			 company to which the transfer is being made and the company's FEIN;
d) The monetary amount, if any, exchanged
			 between the entities; and
e) A
			 certification of an officer of the company that the provided information is
			 true and accurate to the best of his/her knowledge.
Illinois Administrative Code › Title 50 - INSURANCE › Part 2525 - OVERPAYMENTS, REFUNDS, AMENDMENTS AND PENALTIES (REPEALED) › Section 2525.80 - Cash Refund of Taxes Assessed Pursuant to Sections 409, 444 and 444.1 of the Code (Repealed)

Current through Register Vol. 48, No. 28, July 12, 2024
Illinois Administrative Code › Title 50 - INSURANCE › Part 2601 - BILLING PROCEDURES › Section 2601.10 - Authority

Current through Register Vol. 48, No. 28, July 12, 2024
The Rule is promulgated by the Director of Insurance under
				Section 401 of the Illinois Insurance Code which empowers the Director "...to
				make reasonable rules and regulations as may be necessary for making effective
				..." the insurance laws of this State. It is the purpose of this Rule to
				implement Section 143(2), and Article XXVI of the Illinois Insurance Code (Ill.
				Rev. Stat. 1981, ch. 73, pars. 755 and 1028 et seq.). Failure to adhere to the
				standards herein set forth shall subject the offender, in addition to any other
				penalties or remedies provided by law, to proceedings under Article XXVI of the
				Illinois Insurance Code.
Illinois Administrative Code › Title 50 - INSURANCE › Part 2601 - BILLING PROCEDURES › Section 2601.20 - Effective Date - Requirements

Current through Register Vol. 48, No. 28, July 12, 2024
Effective September 1, 1972, all companies issuing any "policy
				of automobile liability insurance" (as defined in Section 143(2) of the
				Illinois Insurance Code) on one or more private passenger automobiles in this
				State shall clearly indicate to the policyholder in writing either on the
				policy or on some other document, the separate premium being charged for each
				coverage or group of coverages which is separately rated in accordance with the
				company's ratemaking procedure; provided that such indication shall not be
				required at any renewal or continuation where such separate premium and total
				policy premium are unchanged from those for the expiring period, nor shall
				companies be required to indicate separate premium for coverages within a
				combination of coverages for which a single premium is recorded under a
				statistical plan lawfully in use; and provided further that in no event shall
				automobile physical damage coverages be combined, either as to title or
				premium, with any liability coverage within the above
				definition.
Illinois Administrative Code › Title 50 - INSURANCE › Part 2601 - BILLING PROCEDURES › Section 2601.30 - Applicable only to Private Passenger Automobile Coverages

Current through Register Vol. 48, No. 28, July 12, 2024
For policies also affording coverages to vehicles not defined
				herein as a "private passenger automobile", this rule is applicable only to
				those coverages or portions of coverages pertaining to specifically insured
				private passenger automobiles.
Illinois Administrative Code › Title 50 - INSURANCE › Part 2601 - BILLING PROCEDURES › Section 2601.40 - Definition of Private Passenger Automobile

Current through Register Vol. 48, No. 28, July 12, 2024
As used in this Rule, the term "private passenger automobile"
				means a sedan, station wagon, or jeep-type vehicle not used as a public livery
				conveyance for passenger, nor rented to others, and includes any other utility
				automobile, pick-up truck, or panel truck which is not used primarily in the
				occupation, profession, or business of the insured, and the term shall be
				limited to the described vehicles while registered or principally garaged in
				the State of Illinois.
Illinois Administrative Code › Title 50 - INSURANCE › Part 2602 - LIMITS USE OF BENEFITS TO ADJUST OR CORRECT PRIOR BENEFITS PAID › Section 2602.10 - Authority

Current through Register Vol. 48, No. 28, July 12, 2024
This Rule is promulgated by the Director of Insurance under
				Section 401 (Ill. Rev. Stat. 1981, ch. 73, Section 1013) of the Illinois
				Insurance Code which empowers the Director ". . . to make reasonable rules and
				regulations as may be necessary for making effective . . ." the insurance laws
				of this State. This rule implements Sections 154.6(d) and 154.6(e), and Article
				XXVI (Ill. Rev. Stat. 1981, ch. 73, pars. 766.6(d) and (e) and 1028 et seq.) of
				the Illinois Insurance Code. Failure to adhere to the standards herein set
				forth shall subject the offender, in addition to any other penalties or
				remedies provided by law, to proceedings under Article XXVI of the Illinois
				Insurance Code.
Illinois Administrative Code › Title 50 - INSURANCE › Part 2602 - LIMITS USE OF BENEFITS TO ADJUST OR CORRECT PRIOR BENEFITS PAID › Section 2602.20 - Purpose

Current through Register Vol. 48, No. 28, July 12, 2024
The purpose of this Rule is to establish as an Unfair and
				Deceptive Act and Practice the reduction or denial of any claim to satisfy a
				previous overpayment except in accordance with this Rule. Compliance with this
				Rule shall be accomplished as set forth in Section
				2602.40 of this
				Part.
Illinois Administrative Code › Title 50 - INSURANCE › Part 2602 - LIMITS USE OF BENEFITS TO ADJUST OR CORRECT PRIOR BENEFITS PAID › Section 2602.30 - Scope

Current through Register Vol. 48, No. 28, July 12, 2024
This Rule shall apply to all companies authorized to write the
				class or classes of business set forth in Clause b of Class 1 or Clause a of
				Class 2 of Section 4 (Ill. Rev. Stat. 1981, ch. 73, par. 616) of the Illinois
				Insurance Code as they apply to those specific clauses.
Illinois Administrative Code › Title 50 - INSURANCE › Part 2602 - LIMITS USE OF BENEFITS TO ADJUST OR CORRECT PRIOR BENEFITS PAID › Section 2602.40 - Standards

Current through Register Vol. 48, No. 28, July 12, 2024
No company shall withhold any portion of any benefit payable as
				the result of a claim on the basis that the sum withheld is an adjustment or
				correction for an overpayment made on a prior claim arising under the same
				policy unless:
a) The company has
			 within its files clear, documented evidence of overpayment and written
			 authorization from the insured permitting such withholding procedure,
			 or
b) The company has within its
			 files clear, documented evidence of all of the following:
1) The amount of the claim payment was
			 clearly erroneous under the provisions of the policy. If the amount is the
			 subject of a legitimate dispute between the insured and the company as to
			 coverage or other policy provisions, this procedure may not be used.
2) The error which resulted in the payment is
			 not a mistake of law.
3) The
			 company notifies the insured in writing within six (6) months of the date of
			 the error, or within twelve (12) months for errors arising from billing errors
			 made by providers of services or treatment on the compensable claim. Such six
			 (6) or twelve (12) months period shall be measured from the date of the claim
			 check or draft which contains the erroneous payment.
4) Such notice states clearly the nature of
			 the error and the states the amount of the overpayment.
Illinois Administrative Code › Title 50 - INSURANCE › Part 2602 - LIMITS USE OF BENEFITS TO ADJUST OR CORRECT PRIOR BENEFITS PAID › Section 2602.50 - Limitation

Current through Register Vol. 48, No. 28, July 12, 2024
A company may use the procedure set forth in Section
				2602.40(b)
				of this Rule provided that the claim used to adjust the first overpayment is
				made no later than 3 years after the date of the error.
Nothing herein shall be in any way interpreted as a limitation
				of any kind on the right of any company to use the courts of any
				state.
Illinois Administrative Code › Title 50 - INSURANCE › Part 2603 - UNFAIR DISCRIMINATION BASED ON SEX, SEXUAL ORIENTATION, GENDER IDENTITY OR MARITAL STATUS › Section 2603.10 - Authority

Current through Register Vol. 48, No. 28, July 12, 2024
This Part is promulgated by the Director of Insurance pursuant
				to Section 401 of the Illinois Insurance Code (Code), which empowers the
				Director
"to make reasonable rules and regulations as may be necessary
				for making effective"
the insurance laws of this State. This Part
				implements Sections 236, 355, 355a, 364, 367 and 424(1) of the Code. Failure to
				adhere to the standards in this Part shall subject the offender, in addition to
				any other penalties provided by law, to proceedings under Article XXVI of the
				Code.
Illinois Administrative Code › Title 50 - INSURANCE › Part 2603 - UNFAIR DISCRIMINATION BASED ON SEX, SEXUAL ORIENTATION, GENDER IDENTITY OR MARITAL STATUS › Section 2603.20 - Purpose and Scope

Current through Register Vol. 48, No. 28, July 12, 2024
The purpose of this Part is to eliminate unfair discrimination
				based upon sex, gender identity, sexual orientation or marital status in the
				terms and conditions of insurance contracts and in the underwriting criteria of
				insurance carriers. This Part shall apply to all companies authorized to do an
				insurance business in this State of the kind or kinds of business described in
				Class 1(a), 1(b) or Class 2(a) of Section 4 of the Code, all companies licensed
				in accordance with the Voluntary Health Services Plans Act [215 ILCS 165], the
				Health Maintenance Organization Act [215 ILCS 125] and to all Fraternal Benefit
				Societies licensed in accordance with Article XVII of the Code. This Part shall
				not affect the rights of fraternal benefit societies as specified in Section
				314.1 of the Code.
Illinois Administrative Code › Title 50 - INSURANCE › Part 2603 - UNFAIR DISCRIMINATION BASED ON SEX, SEXUAL ORIENTATION, GENDER IDENTITY OR MARITAL STATUS › Section 2603.35 - Prohibited Gender Identity Discrimination

Current through Register Vol. 48, No. 28, July 12, 2024
a) A company that offers or provides group or
			 individual health insurance coverage that is neither a grandfathered plan nor a
			 plan offering excepted benefits shall not discriminate on the basis of an
			 insured's or prospective insured's actual or perceived gender identity, or on
			 the basis that the insured or prospective insured is a transgender person. The
			 discrimination prohibited by this Section includes any of the following:
1) discriminatory exclusionary
			 clauses;
2) provisions that exclude
			 from, limit, charge a higher rate for, or deny a claim for coverage of hospital
			 and medical benefits for gender dysphoria if benefits covered by the policy are
			 provided for other medical conditions;
3) cancelling, limiting or refusing to issue
			 or renew an insurance policy on the basis of an insured's or prospective
			 insured's actual or perceived gender identity, or for the reason that the
			 insured or prospective insured is a transgender person, or because the insured
			 or prospective insured has undergone, or is in the process of undergoing,
			 gender transition;
4) designating
			 an insured's or prospective insured's actual or perceived gender identity, or
			 the fact that an insured or prospective insured is a transgender person, as a
			 preexisting condition for which coverage will be denied or limited;
5) provisions that exclude from, limit,
			 charge a higher rate for, or deny a claim for coverage for the surgical
			 treatments for gender dysphoria;
6)
			 denying or limiting coverage, or denying a claim, for services due to an
			 insured's actual or perceived gender identity, or for the reason that the
			 insured is a transgender person or has undergone, or is in the process of
			 undergoing, gender transition, including, but not limited to, denials or
			 limitations relating to health care services that are ordinarily available to
			 individuals of one sex based on the fact that an individual's sex assigned at
			 birth, actual or perceived gender identity, or gender otherwise recorded is
			 different from the one to which such services are ordinarily available;
			 or
7) denying or limiting coverage,
			 or denying a claim, for a covered service relating to gender transition based
			 on a categorical age limitation.
Illinois Administrative Code › Title 50 - INSURANCE › Part 2603 - UNFAIR DISCRIMINATION BASED ON SEX, SEXUAL ORIENTATION, GENDER IDENTITY OR MARITAL STATUS › Section 2603.40 - Rates

Current through Register Vol. 48, No. 28, July 12, 2024
a) No insurance
			 company shall place a risk in a rating classification on the basis of sex,
			 sexual orientation or marital status or otherwise differentiate in rates on the
			 basis of sex, sexual orientation or marital status unless that classification
			 or differentiation is based upon expected claim costs and expenses derived by
			 applying sound actuarial principles to relevant and reasonably current company
			 or intercompany studies, claim costs, and expense experience. After July 1,
			 1979, no company shall charge a differential by sex, sexual orientation or
			 marital status larger than the differential indicated by the criterion stated
			 in this Section.
b) No insurance
			 company shall use separate rating classifications or otherwise differentiate in
			 rates on the basis of actual or perceived gender identity, or on the basis that
			 the insured or prospective insured is a transgender person, or on the basis
			 that the insured or prospective insured has undergone, or is in the process of
			 undergoing, gender transition, unless the classification or differentiation is
			 based upon expected claim costs and expenses derived by applying sound
			 actuarial principles to relevant and reasonably current company or intercompany
			 studies, claim costs, and expense experience. After August 1, 2020, no company
			 shall charge a differential by actual or perceived gender identity, or by the
			 fact that the insured or prospective insured is a transgender person, or on the
			 basis that the insured or prospective insured has undergone, or is in the
			 process of undergoing, gender transition, that is larger than the differential
			 indicated by the criterion stated in this Section. Nothing in this Section
			 otherwise prohibits a company from recognizing an individual's gender identity
			 to the extent requested by the individual.
c) An insurer shall, upon request of the
			 Director, justify that any classification or differentiation described in this
			 Section equitably and reasonably reflects differences in expected claim costs
			 and expenses.
Illinois Administrative Code › Title 50 - INSURANCE › Part 2603 - UNFAIR DISCRIMINATION BASED ON SEX, SEXUAL ORIENTATION, GENDER IDENTITY OR MARITAL STATUS › Section 2603.50 - Severability Provision

Current through Register Vol. 48, No. 28, July 12, 2024
If any Section or portion of a Section of this Part, or the
				applicability thereof to any person or circumstance is held invalid by a court,
				the remainder of the Part, or the applicability of such provision or
				circumstance, shall not be affected thereby.
Illinois Administrative Code › Title 50 - INSURANCE › Part 2605 - MILITARY SALES PRACTICES › Section 2605.10 - Purpose

Current through Register Vol. 48, No. 28, July 12, 2024
a) The purpose of
			 this Part is to set forth standards to protect active duty service members of
			 the United States Armed Forces from dishonest and predatory insurance sales
			 practices by declaring certain identified practices to be false, misleading,
			 deceptive or unfair.
b) Nothing in
			 this Part shall be construed to create or imply a private cause of action for a
			 violation of this Part.
Illinois Administrative Code › Title 50 - INSURANCE › Part 2605 - MILITARY SALES PRACTICES › Section 2605.20 - Scope

Current through Register Vol. 48, No. 28, July 12, 2024
This Part shall apply only to the solicitation or sale of any
				life insurance or annuity product by an insurer or insurance producer to an
				active duty service member of the United States Armed Forces.
Illinois Administrative Code › Title 50 - INSURANCE › Part 2605 - MILITARY SALES PRACTICES › Section 2605.30 - Exemptions

Current through Register Vol. 48, No. 28, July 12, 2024
a) This Part shall
			 not apply to solicitations or sales involving:
1) Credit insurance;
2) Group life insurance or group annuities
			 when there is no in-person, face-to-face solicitation of individuals by an
			 insurance producer or when the contract or certificate does not include a side
			 fund;
3) An application to the
			 existing insurer that issued the existing policy or contract when a contractual
			 change or a conversion privilege is being exercised; or when the existing
			 policy or contract is being replaced by the same insurer pursuant to a program
			 filed with and approved by the Director; or when a term conversion privilege is
			 exercised among corporate affiliates;
4) Individual stand-alone health policies,
			 including disability income policies;
5) Contracts offered by Servicemembers' Group
			 Life Insurance (SGLI) or Veterans' Group Life Insurance (VGLI), as authorized
			 by 38 USC 1965 et
			 seq.;
6) Life insurance contracts
			 offered through or by a non-profit military association qualifying under
			 section 501(c)(23) of the Internal Revenue Code (IRC) (
			 26 USC
			 501(c)(23) ), and that are
			 not underwritten by an insurer; or
7) Contracts used to fund:
A) An employee pension or welfare benefit
			 plan that is covered by the Employee Retirement and Income Security Act
			 (ERISA);
B) A plan described by
			 sections 401(a), 401(k), 403(b), 408(k) or 408(p) of the IRC, as amended, if
			 established or maintained by an employer;
C) A government or church plan defined in
			 section 414 of the IRC, a government or church welfare benefit plan, or a
			 deferred compensation plan of a state or local government or tax exempt
			 organization under section 457 of the IRC;
D) A nonqualified deferred compensation
			 arrangement established or maintained by an employer or plan sponsor;
E) Settlements of or assumptions of
			 liabilities associated with personal injury litigation or any dispute or claim
			 resolution process; or
F)
			 Prearranged funeral contracts.
Illinois Administrative Code › Title 50 - INSURANCE › Part 2605 - MILITARY SALES PRACTICES › Section 2605.50 - Practices Declared False, Misleading, Deceptive or Unfair on a Military Installation

Current through Register Vol. 48, No. 28, July 12, 2024
a) The
			 following acts or practices, when committed on a military installation by an
			 insurer or insurance producer with respect to the in-person, face-to-face
			 solicitation of life insurance, are declared to be false, misleading, deceptive
			 or unfair:
1) Knowingly soliciting the
			 purchase of any life insurance product "door to door" or without first
			 establishing a specific appointment for each meeting with the prospective
			 purchaser.
2) Soliciting service
			 members in a group or "mass" audience or in a "captive" audience where
			 attendance is not voluntary.
3)
			 Knowingly making appointments with or soliciting service members during their
			 normally scheduled duty hours.
4)
			 Making appointments with or soliciting service members in barracks, day rooms,
			 unit areas, or transient personnel housing or other areas where the
			 installation commander has prohibited solicitation.
5) Soliciting the sale of life insurance
			 without first obtaining permission from the installation commander or the
			 commander's designee.
6) Posting
			 unauthorized bulletins, notices or advertisements.
7) Failing to present DD Form 2885, Personal
			 Commercial Solicitation Evaluation, to service members solicited, or
			 encouraging service members solicited not to complete or submit a DD Form
			 2885.
8) Knowingly accepting an
			 application for life insurance or issuing a policy of life insurance on the
			 life of an enlisted member of the United States Armed Forces without first
			 obtaining for the insurer's files a completed copy of any required form that
			 confirms that the applicant has received counseling or fulfilled any other
			 similar requirement for the sale of life insurance established by regulations,
			 directives or rules of the DoD or any branch of the Armed Forces.
Illinois Administrative Code › Title 50 - INSURANCE › Part 2605 - MILITARY SALES PRACTICES › Section 2605.70 - Noncompliance

Current through Register Vol. 48, No. 28, July 12, 2024
a) Failure of an
			 insurer to comply with the requirements of this Part shall subject the insurer
			 to the applicable provisions of Section 403A of the Code; or
b) Failure of an insurance producer to comply
			 with requirements of this Part shall be an unfair trade practice, and evidence
			 of incompetence or untrustworthiness in the conduct of business under Section
			 500-70(a)(7) and (8) of the Code.
Illinois Administrative Code › Title 50 - INSURANCE › Part 2701 - SURPLUS LINE BUSINESS REQUIREMENTS › Section 2701.10 - Policies or Contracts of Insurance

Current through Register Vol. 48, No. 28, July 12, 2024
Policies or contracts of insurance may not be placed with
				insurers not authorized to do business in Illinois other than through surplus
				line producers licensed pursuant to Section 445 of the Illinois Insurance Code
				(the Code) [
				215 ILCS 5/445
				].
Illinois Administrative Code › Title 50 - INSURANCE › Part 2701 - SURPLUS LINE BUSINESS REQUIREMENTS › Section 2701.20 - License Expiration

Current through Register Vol. 48, No. 28, July 12, 2024
A surplus line producer license issued pursuant to Section 445
				of the Illinois Insurance Code shall expire twelve (12) calendar months after
				its issuance unless the license is renewed as permitted by Section
				2801.100
				of this Part.
Illinois Administrative Code › Title 50 - INSURANCE › Part 2701 - SURPLUS LINE BUSINESS REQUIREMENTS › Section 2701.30 - Unauthorized Insurers

Current through Register Vol. 48, No. 28, July 12, 2024
a)
			 Procurement of Insurance by a Surplus Line Producer
1) A surplus line producer may procure
			 insurance from an unauthorized insurer domiciled in the United States:
A) that,
based upon information
			 available to the surplus line producer, has a policyholders' surplus of not
			 less than $15,000,000 determined in accordance with accounting rules set forth
			 in the Illinois Insurance Code
that are applicable to authorized
			 insurers; and
B) that
has
			 standards of solvency and management that are adequate for the protection of
			 policyholders
; and
C) that
is permitted in its domiciliary jurisdiction to write the type of
			 insurance involved.
(Section 445(1.5 )(b) of the
			 Code)
Illinois Administrative Code › Title 50 - INSURANCE › Part 2701 - SURPLUS LINE BUSINESS REQUIREMENTS › Section 2701.50 - Procurement of Policies or Contracts

Current through Register Vol. 48, No. 28, July 12, 2024
a) The surplus line producer must exert
			 diligent effort to procure the policies or contracts required by the insureds
			 from insurers that are authorized to transact business in Illinois (Section 445
			 of the Code). Diligent effort by the surplus line producer shall be deemed to
			 have been exercised if the surplus line producer or the referring insurance
			 producer submits a risk to three or more authorized insurers that are engaged
			 in writing in Illinois the type of coverage sought, or if there are no insurers
			 actually engaged in writing that coverage, the risk shall be submitted to
			 insurers that, in the surplus line producer's or the insurance producer's
			 professional judgment, are the most likely to accept the risk.
b) Submission of insuring contracts to the
			 Surplus Line Association of Illinois constitutes a certification by the surplus
			 line producer or by the insurance producer who presented the risk to the
			 surplus line producer for placement as a surplus line risk that after diligent
			 effort the required insurance could not be procured from insurers that are
			 authorized to transact business in this State and that the procurement was
			 otherwise in accordance with the surplus line law.
c)
Licensed surplus line producers
			 may procure surplus line insurance from an unauthorized insurer for an exempt
			 commercial purchaser, as that term is defined in Section 445, without making
			 the required diligent effort to procure the insurance from authorized insurers
			 if:
1)
the producer has
			 disclosed to the exempt commercial purchaser that the insurance may or may not
			 be available from authorized insurers that may provide greater protection with
			 more regulatory oversight; and
2)
the exempt commercial purchaser
			 has subsequently, in writing, requested the producer to procure that insurance
			 from an unauthorized insurer.
(Section 445(1.5 )(e) of the
			 Code)
Illinois Administrative Code › Title 50 - INSURANCE › Part 2701 - SURPLUS LINE BUSINESS REQUIREMENTS › Section 2701.60 - Record of Efforts to Procure Policies or Contracts

Current through Register Vol. 48, No. 28, July 12, 2024
The surplus line producer must maintain, with the copy of the
				insurance that was placed, a record of the diligent effort, which must state
				the name of the authorized insurers and the individuals contacted at each
				insurer who declined the risk. If the diligent effort was made by the insurance
				producer, the surplus line producer must maintain a written record signed by
				the insurance producer that the insurance producer made the diligent effort,
				and the insurance producer must maintain a record that states the name of the
				authorized insurers and the individuals contacted at each insurer who declined
				the risk.
Illinois Administrative Code › Title 50 - INSURANCE › Part 2701 - SURPLUS LINE BUSINESS REQUIREMENTS › Section 2701.70 - Declinations of Artificial Coverage not Acceptable

Current through Register Vol. 48, No. 28, July 12, 2024
a) Declinations by authorized insurers for
			 the following reasons do not qualify insurance to be placed under the surplus
			 line law:
1) Artificial division of one
			 coverage into two or more proposed contracts;
2) Differential in premium or rate quoted
			 between an authorized insurer and an unauthorized insurer.
Illinois Administrative Code › Title 50 - INSURANCE › Part 2701 - SURPLUS LINE BUSINESS REQUIREMENTS › Section 2701.80 - Surplus Line Association of Illinois

Current through Register Vol. 48, No. 28, July 12, 2024
a) All surplus line insurance must be
			 submitted to the Surplus Line Association if Illinois is the insured's home
			 state, as that term is defined in Section 445. The Surplus Line Association
			 will process and countersign the insurance policies or contracts, keep records
			 of the business written and report to the surplus line producers and to the
			 Director pursuant to Sections 445 and 445.1 of the Code. The Surplus Line
			 Association shall report to the Director and, at the discretion of the
			 Director, to the surplus line producers:
1)
			 by July 15 each year, the business processed by each surplus line producer
			 during the six month period ending June 30; and
2) by January 15 each year, the business
			 processed by each surplus line producer during the six month period ending
			 December 31 of the previous year.
Illinois Administrative Code › Title 50 - INSURANCE › Part 2701 - SURPLUS LINE BUSINESS REQUIREMENTS › Section 2701.90 - Separate Records and Accounts

Current through Register Vol. 48, No. 28, July 12, 2024
Each surplus line producer must keep separate accounts and
				records of the business transacted under its surplus line license for 7 years
				from the policy effective date, and these separate accounts and records shall
				be open at all times to inspection by the Illinois Director of Insurance or his
				or her designee.
Illinois Administrative Code › Title 50 - INSURANCE › Part 2701 - SURPLUS LINE BUSINESS REQUIREMENTS › Section 2701.100 - License Rejection or Renewal Refusal

Current through Register Vol. 48, No. 28, July 12, 2024
Application for a surplus line producer license shall be
				rejected, or renewal thereof refused, for failure:
a) to pay the tax required by Section 445 of
			 the Illinois Insurance Code and by Section 12 of the Fire Investigation Act [
			 425
			 ILCS 25/12 ]; or
b) to pay the annual license fee to the
			 Director of Insurance pursuant to Section 445(2) of the Code; or
c) to pay the fee due the Surplus Line
			 Association; or
d) to exert
			 diligent effort to secure the business required by an insured from duly
			 authorized insurers; or
e) to
			 procure surplus line policies or contracts or coverage from insurers that have
			 at least $15,000,000 in policyholders surplus and have the standards of
			 solvency or management necessary for the protection of policyholders;
			 or
f) to process all surplus line
			 business on Illinois risks through the Surplus Line Association; or
g) to maintain records and accounts pursuant
			 to Section 445 of the Code; or
h)
			 to maintain membership in the Surplus Line Association of Illinois;
			 or
i) to comply with the
			 requirements of the Illinois Insurance Code or 50 Ill. Adm. Code.
Illinois Administrative Code › Title 50 - INSURANCE › Part 2701 - SURPLUS LINE BUSINESS REQUIREMENTS › Section 2701.110 - Service of Process

Current through Register Vol. 48, No. 28, July 12, 2024
a) Service of
			 process relating to any surplus line insurance that the Surplus Line
			 Association receives from the Director shall be delivered to the surplus line
			 producer for delivery to the unauthorized insurer. The surplus line producer
			 shall promptly forward any such process by the fastest, most reliable means to
			 the unauthorized insurer or its designated representative for service of
			 process.
b) Any unauthorized
			 insurer that elects to do so may file a written request with the Surplus Line
			 Association that service of process be forwarded directly to the insurer. The
			 Surplus Line Association shall forward a copy of the process directly to the
			 insurer and to the surplus line producer.
Illinois Administrative Code › Title 50 - INSURANCE › Part 2701 - SURPLUS LINE BUSINESS REQUIREMENTS › Section 2701.120 - Required Surplus Line Policy Notice

Current through Register Vol. 48, No. 28, July 12, 2024
a)
Each policy or contract for
			 insurance procured from an unauthorized insurer, other than a domestic surplus
			 line insurer, in conformity with Section 445 of the Code shall have stamped or
			 imprinted on the first page, in not less than 12-pt. bold face type, the
			 following legend:
"Notice to Policyholder"
"This contract is issued, pursuant to Section 445 of
				the Illinois Insurance Code by a company not authorized and licensed to
				transact business in Illinois and as such is not covered by the Illinois
				Insurance Guaranty Fun
d."
b) Each policy or contract for insurance
			 procured
from a domestic surplus line insurer in conformity with
			 Section 445 of the Code shall have stamped or imprinted on the first page, in
			 not less than 12-pt. bold face type, the following legend:
"Notice to Policyholder"
"This contract is issued by a domestic surplus line
				insurer, as defined in Section 445a of the Illinois Insurance Code, pursuant to
				Section 445 of the Code and, as such, is not covered by the Illinois Insurance
				Guaranty Fund."
(Section 445(10.5 ) of the Code)
Illinois Administrative Code › Title 50 - INSURANCE › Part 2701 - SURPLUS LINE BUSINESS REQUIREMENTS › Section 2701.130 - Taxes

Current through Register Vol. 48, No. 28, July 12, 2024
a) The surplus line
			 producer shall pay to the Director as a surplus line tax a sum equal to the
			 gross premiums less returned premiums multiplied by the surplus line tax rate
			 set forth in Section 445 of the Code upon all surplus line insurance. The
			 payment is due on or before February 1 of each year for the business processed
			 through the Surplus Line Association during the six month period ending
			 December 31 of the previous year and on August 1 of each year for the six month
			 period ending June 30. The Surplus Line Association will report to each surplus
			 line producer and to the Director the business processed during each six month
			 period.
b) The surplus line
			 producer shall pay to the Director as a Fire Marshal Tax a sum equal to 1% of
			 the gross premiums less returned premiums on all surplus line insurance subject
			 to the tax required by Section 12 of the Fire Investigation Act [ 425 ILCS 25
			 ]. The payment is due in the month of March for the business processed through
			 the Surplus Line Association for the preceding calendar year. The Surplus Line
			 Association, prior to March 1, will report to each surplus line producer and to
			 the Director the business subject to this Fire Marshal Tax processed during
			 each calendar year.
c) The surplus
			 line tax and the Fire Marshal tax, when applicable, shall be due and payable on
			 all surplus line business processed by the surplus line producer through the
			 Surplus Line Association.
Illinois Administrative Code › Title 50 - INSURANCE › Part 2701 - SURPLUS LINE BUSINESS REQUIREMENTS › Section 2701.140 - Classes not Subject to Surplus Line Law

Current through Register Vol. 48, No. 28, July 12, 2024
Sections 445 and 445.5 inclusive of the Illinois Insurance Code
				do not apply to insurance of property and operations of railroads or aircraft
				engaged in interstate or foreign commerce, insurance of vessels, crafts or
				hulls, cargoes, marine builders risks, marine protection and indemnity, or
				other risks including strikes and war risks insured under ocean or wet marine
				forms of policies. Surplus line producers should not submit the above types of
				insurance to the Surplus Line Association for processing.
Illinois Administrative Code › Title 50 - INSURANCE › Part 2701 - SURPLUS LINE BUSINESS REQUIREMENTS › ILLUSTRATION A - Written Warning to Insureds

Current through Register Vol. 48, No. 28, July 12, 2024
TO:
_______________________
_______________________
_______________________
RE:
(Name of Unauthorized Insurer)
(Type of Coverage)
In accordance with Section 445 of the Illinois Insurance Code,
				I hereby provide you with a written WARNING that the above-captioned
				unauthorized insurer with which I propose to place the captioned coverage does
				not, or I am unable to verify that it does (checked as applicable):
Have a policyholder surplus of $15,000,000 or
						  more;
________
_________________________________________________________________
________
Meet minimal standards of solvency and management that
						  are adequate for your protection.
Sincerely,
_________________________
Illinois Administrative Code › Title 50 - INSURANCE › Part 2902 - WORKERS' COMPENSATION RATE AND MANUAL FILING › Section 2902.20 - Purpose and Scope

Current through Register Vol. 48, No. 28, July 12, 2024
a This Part
			 establishes a uniform format for the filing of every manual of classifications,
			 every manual of rules and rates, every rating plan, every schedule rating plan,
			 loss cost multipliers, dividend plan and every modification that is intended
			 for use in this State.
b This Part
			 shall apply to all companies licensed and writing in this State, the kind of
			 insurance commonly referred to as Worker's Compensation and Employer's
			 Liability as authorized by Class 2(c) and (d) of Section 4 of the Code and
			 every Rating Organization licensed under Section 459 of the Code.
c All filings shall be submitted using the
			 System for Electronic Rate and Form Filing (SERFF) or in another electronic
			 format approved by the Director.
Illinois Administrative Code › Title 50 - INSURANCE › Part 2902 - WORKERS' COMPENSATION RATE AND MANUAL FILING › Section 2902.30 - Filings Required

Current through Register Vol. 48, No. 28, July 12, 2024
All companies subject to this Section shall file the following
				materials with the Illinois Department of Insurance (Department):
a) All Manuals - Every manual of
			 classifications, every manual of rules, every rating plan, every schedule
			 rating plan, loss cost multipliers, dividend plan and every modification of any
			 such manual or plan used in this State or intended for use in this State;
			 and
b) All Rates - All rates and/or
			 modification factors, if adopting a pure premium filed by a rating
			 organization.
Illinois Administrative Code › Title 50 - INSURANCE › Part 2902 - WORKERS' COMPENSATION RATE AND MANUAL FILING › Section 2902.40 - Rule Manual Filings

Current through Register Vol. 48, No. 28, July 12, 2024
a) Manual
			 filing requirements can be met either by a company making a direct filing on
			 its own behalf or a company authorizing a rating organization of which it is a
			 member or subscriber to make the filing on the company's behalf.
1) A company that adopts a rule or rule
			 change filed by its rating organization without modification must notify the
			 Department 30 days prior to the effective date of use.
2) A company that adopts a rule or rule
			 change filed by its rating organization with modification or submits a direct
			 filing on its own behalf must file:
A) Manual
			 exception pages;
B) The manual rule
			 number, which must be the same as the rule number being replaced; and
C) The effective date of use.
3) A company shall submit a
			 complete up-to-date manual upon request. The company shall also identify the
			 tracking number of a particular section of the manual upon request.
Illinois Administrative Code › Title 50 - INSURANCE › Part 2902 - WORKERS' COMPENSATION RATE AND MANUAL FILING › Section 2902.50 - Rate Filings

Current through Register Vol. 48, No. 28, July 12, 2024
a) Rate filing
			 requirements can be met by:
1) A company
			 making a direct filing on its own behalf;
2) A company filing to adopt its rating
			 organization advisory rate filing;
3) A company filing a deviation to its rating
			 organization advisory rate filing; or
4) A company adopting its rating organization
			 pure premium rate filing, provided the company files its modification factor or
			 factors used for expenses and profits.
Illinois Administrative Code › Title 50 - INSURANCE › Part 2902 - WORKERS' COMPENSATION RATE AND MANUAL FILING › Section 2902.70 - Submission of Filings

Current through Register Vol. 48, No. 28, July 12, 2024
a) All manual
			 and rate filings required by this Part must be received no later than 30 days
			 before the effective date of use.
b) All manual filings made by a rating
			 organization to which it will require adherence of its members and subscribers
			 must be filed 30 days before the effective date of use.