reglab/statecodes huggingface dataset:
Illinois Administrative Code › Title 50 - INSURANCE › Part 935 - THE MINIMUM MORTALITY STANDARD FOR VALUATION OF ANNUITY AND PURE ENDOWMENT CONTRACTS › Section 935.40 - Individual Annuity or Pure Endowment Contracts

Current through Register Vol. 48, No. 28, July 12, 2024
a) Except as provided in subsections (b),
			 (c), (d) and (e), the 1983 Table "a" is recognized and approved as an
			 individual annuity mortality table for valuation and, at the option of the
			 company, may be used for purposes of determining the minimum standard of
			 valuation for any individual annuity or pure endowment contract issued on or
			 after September 8, 1977 and before January 1, 2017.
b) Except as provided in subsections (c), (d)
			 and (e), the 1983 Table "a" or the Annuity 2000 Mortality Table shall be used
			 for determining the minimum standard of valuation for any individual annuity or
			 pure endowment contract issued on or after December 31, 1985 and before January
			 1, 2017.
c) Except as provided in
			 subsections (d) and (e), the Annuity 2000 Mortality Table shall be used for
			 determining the minimum standard of valuation for any individual annuity or
			 pure endowment contract issued on or after January 1, 1999 and before January
			 1, 2017.
d) Except as provided in
			 subsection (e), the 2012 IAR Mortality Table shall be used for determining the
			 minimum standard of valuation for any individual annuity or pure endowment
			 contract issued on or after January 1, 2015 and before January 1,
			 2017.
e) The 1983 Table "a" without
			 projection is to be used for determining the minimum standards of valuation for
			 an individual annuity or pure endowment contract issued on or after January 1,
			 1999 and before January 1, 2017, solely when the contract is based on life
			 contingencies and is issued to fund periodic benefits arising from:
1) Settlements of various forms of claims
			 pertaining to court settlements or out of court settlements from tort
			 actions;
2) Settlements involving
			 similar actions such as workers' compensation claims; or
3) Settlements of long term disability claims
			 where a temporary or life annuity has been used in lieu of continuing
			 disability payments.
Illinois Administrative Code › Title 50 - INSURANCE › Part 935 - THE MINIMUM MORTALITY STANDARD FOR VALUATION OF ANNUITY AND PURE ENDOWMENT CONTRACTS › Section 935.45 - Application of the 2012 IAR Mortality Table

Current through Register Vol. 48, No. 28, July 12, 2024
a) In using the 2012 IAR Mortality Table, the
			 mortality rate for a person age x in year (2012 + n) is calculated as follows:
Image
b) The resulting
Image
shall be
			 rounded to three decimal places per 1,000, e.g., 0.741 deaths per 1,000. Also,
			 the rounding shall occur according to the formula in subsection (a), starting
			 at the 2012 period table rate.
c)
			 For example, for a male age 30,
Image
= 0.741.
Image
= 0.741 * (1 - 0.010)
				^ 1 = 0.73359, which is rounded to 0.734.
Image
= 0.741 * (1 - 0.010)
				^ 2 = 0.7262541, which is rounded to 0.726.
d) A method leading to incorrect rounding
			 would be to calculate
Image
as
Image
* (1 -
			 0.010), or 0.734 * 0.99 = 0.727. It is incorrect to use the already rounded
Image
to
			 calculate
Image
.
Illinois Administrative Code › Title 50 - INSURANCE › Part 935 - THE MINIMUM MORTALITY STANDARD FOR VALUATION OF ANNUITY AND PURE ENDOWMENT CONTRACTS › Section 935.50 - Group Annuity and Pure Endowment Contracts

Current through Register Vol. 48, No. 28, July 12, 2024
a) Except as provided in subsections (b) and
			 (c), the 1983 GAM Table, the 1983 Table "a" and the 1994 GAR Table are
			 recognized and approved as group annuity mortality tables for determining the
			 minimum standards of valuation and, at the option of the company, any one of
			 these tables may be used for purposes of valuation for any annuity or pure
			 endowment purchased on or after September 8, 1977 and before January 1, 2017
			 under a group annuity or pure endowment contract.
b) Except as provided in subsection (c),
			 either the 1983 GAM Table or the 1994 GAR Table shall be used for determining
			 the minimum standard of valuation for any annuity or pure endowment purchased
			 on or after December 31, 1985 and before January 1, 2017 under a group annuity
			 or pure endowment contract.
c) The
			 1994 GAR Table shall be used for determining the minimum standard of valuation
			 for any annuity or pure endowment purchased on or after January 1, 1999 and
			 before January 1, 2017 under a group annuity or pure endowment
			 contract.
Illinois Administrative Code › Title 50 - INSURANCE › Part 935 - THE MINIMUM MORTALITY STANDARD FOR VALUATION OF ANNUITY AND PURE ENDOWMENT CONTRACTS › Section 935.55 - Application of the 1994 GAR Table

Current through Register Vol. 48, No. 28, July 12, 2024
In using the 1994 GAR Table, the mortality rate for a person
				age x in year (1994 + n) is calculated as follows:
qx1994 + n =
				qx1994(1-AAx)n
where the
				qx1994 and
				AAx are as specified in the 1994 GAR
				Table.
Illinois Administrative Code › Title 50 - INSURANCE › Part 935 - THE MINIMUM MORTALITY STANDARD FOR VALUATION OF ANNUITY AND PURE ENDOWMENT CONTRACTS › ILLUSTRATION A - 2012 IAM Period Table, Female, Age Nearest Birthday

Current through Register Vol. 48, No. 28, July 12, 2024
2012 IAM Period Table
Female, Age Nearest Birthday
AGE
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AGE
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AGE
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AGE
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0
1.621
30
0.300
60
3.460
90
88.377
1
0.405
31
0.321
61
3.916
91
97.491
2
0.259
32
0.338
62
4.409
92
107.269
3
0.179
33
0.351
63
4.933
93
118.201
4
0.137
34
0.365
64
5.507
94
130.969
5
0.125
35
0.381
65
6.146
95
146.449
6
0.117
36
0.402
66
6.551
96
163.908
7
0.110
37
0.429
67
7.039
97
179.695
8
0.095
38
0.463
68
7.628
98
196.151
9
0.088
39
0.504
69
8.311
99
213.150
10
0.085
40
0.552
70
9.074
100
230.722
11
0.086
41
0.600
71
9.910
101
251.505
12
0.094
42
0.650
72
10.827
102
273.007
13
0.108
43
0.697
73
11.839
103
295.086
14
0.131
44
0.740
74
12.974
104
317.591
15
0.156
45
0.780
75
14.282
105
340.362
16
0.179
46
0.825
76
15.799
106
362.371
17
0.198
47
0.885
77
17.550
107
384.113
18
0.211
48
0.964
78
19.582
108
400.000
19
0.221
49
1.051
79
21.970
109
400.000
20
0.228
50
1.161
80
24.821
110
400.000
21
0.234
51
1.308
81
28.351
111
400.000
22
0.240
52
1.460
82
32.509
112
400.000
23
0.245
53
1.613
83
37.329
113
400.000
24
0.247
54
1.774
84
42.830
114
400.000
25
0.250
55
1.950
85
48.997
115
400.000
26
0.256
56
2.154
86
55.774
116
400.000
27
0.261
57
2.399
87
63.140
117
400.000
28
0.270
58
2.700
88
71.066
118
400.000
29
0.281
59
3.054
89
79.502
119
400.000
120
1000.000
Illinois Administrative Code › Title 50 - INSURANCE › Part 935 - THE MINIMUM MORTALITY STANDARD FOR VALUATION OF ANNUITY AND PURE ENDOWMENT CONTRACTS › ILLUSTRATION B - 2012 IAM Period Table, Male, Age Nearest Birthday

Current through Register Vol. 48, No. 28, July 12, 2024
2012 IAM Period Table
Male, Age Nearest Birthday
AGE
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						  view image
AGE
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						  view image
AGE
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						  view image
AGE
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						  view image
0
1.605
30
0.741
60
5.096
90
109.993
1
0.401
31
0.751
61
5.614
91
123.119
2
0.275
32
0.754
62
6.169
92
137.168
3
0.229
33
0.756
63
6.759
93
152.171
4
0.174
34
0.756
64
7.398
94
168.194
5
0.168
35
0.756
65
8.106
95
185.260
6
0.165
36
0.756
66
8.548
96
197.322
7
0.159
37
0.756
67
9.076
97
214.751
8
0.143
38
0.756
68
9.708
98
232.507
9
0.129
39
0.800
69
10.463
99
250.397
10
0.113
40
0.859
70
11.357
100
268.607
11
0.111
41
0.926
71
12.418
101
290.016
12
0.132
42
0.999
72
13.675
102
311.849
13
0.169
43
1.069
73
15.150
103
333.962
14
0.213
44
1.142
74
16.860
104
356.207
15
0.254
45
1.219
75
18.815
105
380.000
16
0.293
46
1.318
76
21.031
106
400.000
17
0.328
47
1.454
77
23.540
107
400.000
18
0.359
48
1.627
78
26.375
108
400.000
19
0.387
49
1.829
79
29.572
109
400.000
20
0.414
50
2.057
80
33.234
110
400.000
21
0.443
51
2.302
81
37.533
111
400.000
22
0.473
52
2.545
82
42.261
112
400.000
23
0.513
53
2.779
83
47.441
113
400.000
24
0.554
54
3.011
84
53.233
114
400.000
25
0.602
55
3.254
85
59.855
115
400.000
26
0.655
56
3.529
86
67.514
116
400.000
27
0.688
57
3.845
87
76.340
117
400.000
28
0.710
58
4.213
88
86.388
118
400.000
29
0.727
59
4.631
89
97.634
119
400.000
120
1000.000
Illinois Administrative Code › Title 50 - INSURANCE › Part 935 - THE MINIMUM MORTALITY STANDARD FOR VALUATION OF ANNUITY AND PURE ENDOWMENT CONTRACTS › ILLUSTRATION C - Projection Scale G2, Female, Age Nearest Birthday

Current through Register Vol. 48, No. 28, July 12, 2024
Projection Scale G2
Female, Age Nearest Birthday
AGE
G2x
AGE
G2x
AGE
G2x
AGE
G2x
0
0.010
30
0.010
60
0.013
90
0.006
1
0.010
31
0.010
61
0.013
91
0.006
2
0.010
32
0.010
62
0.013
92
0.005
3
0.010
33
0.010
63
0.013
93
0.005
4
0.010
34
0.010
64
0.013
94
0.004
5
0.010
35
0.010
65
0.013
95
0.004
6
0.010
36
0.010
66
0.013
96
0.004
7
0.010
37
0.010
67
0.013
97
0.003
8
0.010
38
0.010
68
0.013
98
0.003
9
0.010
39
0.010
69
0.013
99
0.002
10
0.010
40
0.010
70
0.013
100
0.002
11
0.010
41
0.010
71
0.013
101
0.002
12
0.010
42
0.010
72
0.013
102
0.001
13
0.010
43
0.010
73
0.013
103
0.001
14
0.010
44
0.010
74
0.013
104
0.000
15
0.010
45
0.010
75
0.013
105
0.000
16
0.010
46
0.010
76
0.013
106
0.000
17
0.010
47
0.010
77
0.013
107
0.000
18
0.010
48
0.010
78
0.013
108
0.000
19
0.010
49
0.010
79
0.013
109
0.000
20
0.010
50
0.010
80
0.013
110
0.000
21
0.010
51
0.010
81
0.012
111
0.000
22
0.010
52
0.011
82
0.012
112
0.000
23
0.010
53
0.011
83
0.011
113
0.000
24
0.010
54
0.011
84
0.010
114
0.000
25
0.010
55
0.012
85
0.010
115
0.000
26
0.010
56
0.012
86
0.009
116
0.000
27
0.010
57
0.012
87
0.008
117
0.000
28
0.010
58
0.012
88
0.007
118
0.000
29
0.010
59
0.013
89
0.007
119
0.000
120
0.000
Illinois Administrative Code › Title 50 - INSURANCE › Part 935 - THE MINIMUM MORTALITY STANDARD FOR VALUATION OF ANNUITY AND PURE ENDOWMENT CONTRACTS › ILLUSTRATION D - Projection Scale G2, Male, Age Nearest Birthday

Current through Register Vol. 48, No. 28, July 12, 2024
Projection Scale G2
Male, Age Nearest Birthday
AGE
G2x
AGE
G2x
AGE
G2x
AGE
G2x
0
0.010
30
0.010
60
0.015
90
0.007
1
0.010
31
0.010
61
0.015
91
0.007
2
0.010
32
0.010
62
0.015
92
0.006
3
0.010
33
0.010
63
0.015
93
0.005
4
0.010
34
0.010
64
0.015
94
0.005
5
0.010
35
0.010
65
0.015
95
0.004
6
0.010
36
0.010
66
0.015
96
0.004
7
0.010
37
0.010
67
0.015
97
0.003
8
0.010
38
0.010
68
0.015
98
0.003
9
0.010
39
0.010
69
0.015
99
0.002
10
0.010
40
0.010
70
0.015
100
0.002
11
0.010
41
0.010
71
0.015
101
0.002
12
0.010
42
0.010
72
0.015
102
0.001
13
0.010
43
0.010
73
0.015
103
0.001
14
0.010
44
0.010
74
0.015
104
0.000
15
0.010
45
0.010
75
0.015
105
0.000
16
0.010
46
0.010
76
0.015
106
0.000
17
0.010
47
0.010
77
0.015
107
0.000
18
0.010
48
0.010
78
0.015
108
0.000
19
0.010
49
0.010
79
0.015
109
0.000
20
0.010
50
0.010
80
0.015
110
0.000
21
0.010
51
0.011
81
0.014
111
0.000
22
0.010
52
0.011
82
0.013
112
0.000
23
0.010
53
0.012
83
0.013
113
0.000
24
0.010
54
0.012
84
0.012
114
0.000
25
0.010
55
0.013
85
0.011
115
0.000
26
0.010
56
0.013
86
0.010
116
0.000
27
0.010
57
0.014
87
0.009
117
0.000
28
0.010
58
0.014
88
0.009
118
0.000
29
0.010
59
0.015
89
0.008
119
0.000
120
0.000
Illinois Administrative Code › Title 50 - INSURANCE › Part 936 - SUPPLEMENTAL REPORTS FOR PROPERTY AND CASUALTY INSURANCE COMPANIES › Section 936.20 - Applicability

Current through Register Vol. 48, No. 28, July 12, 2024
This Part shall apply to all companies authorized to transact
				the classes of business as set forth in Class 2 or Class 3 of Section 4 of the
				Illinois Insurance Code [215
				ILCS 5/4 ].
Illinois Administrative Code › Title 50 - INSURANCE › Part 936 - SUPPLEMENTAL REPORTS FOR PROPERTY AND CASUALTY INSURANCE COMPANIES › Section 936.30 - Definitions

Current through Register Vol. 48, No. 28, July 12, 2024
Annual Statement means that statement required by Section 136
				of the Illinois Insurance Code [215 ILCS
				5/136 ] to be filed annually by the company with the
				Office of the Director.
Direct Premium Income means any written premium shown for a
				property and casualty company on Schedule T, Line 98, Column 2 of the statutory
				Annual Statement, as required by Section 136 of the Illinois Insurance Code
				[215 ILCS 5/136], or equivalent information in any revision of the Annual
				Statement.
Director means the Director of the Illinois Department of
				Insurance.
Notified Companies means those insurance companies which the
				Director has notified pursuant to Section
				936.40 of
				this Part.
Illinois Administrative Code › Title 50 - INSURANCE › Part 936 - SUPPLEMENTAL REPORTS FOR PROPERTY AND CASUALTY INSURANCE COMPANIES › Section 936.40 - Notification Procedures

Current through Register Vol. 48, No. 28, July 12, 2024
a) A
			 company having direct premium income for property and casualty business may be
			 notified by the Director that supplemental reporting requirements must be met
			 if the company meets one or more of the following categories:
1) the company has been exempted by the
			 Director pursuant to Section 136 of the Illinois Insurance Code [215 ILCS 5/136 ]
			 from filing the actuarial opinion for any reason as outlined in the appropriate
			 National Association of Insurance Commissioners Annual Statement
			 Instructions;
2) the company has
			 greater than 30 percent of direct premium income from lines of business that
			 have less than 10 years of experience reported in Schedule P of the Annual
			 Statement; or
3) the Director
			 believes that the financial condition of the company warrants additional
			 monitoring.
Illinois Administrative Code › Title 50 - INSURANCE › Part 936 - SUPPLEMENTAL REPORTS FOR PROPERTY AND CASUALTY INSURANCE COMPANIES › Section 936.50 - Reporting Requirements for Notified Property and Casualty Companies Having Direct Premium Income

Current through Register Vol. 48, No. 28, July 12, 2024
a) The notified
			 company shall file a completed Exhibit A of this Part with: Financial Corporate
			 Regulatory Division, Casualty Actuarial Section, Illinois Department of
			 Insurance, 320 West Washington Street, Springfield, Illinois
			 62767-0001.
b) Notified companies
			 are to file the supplemental report pursuant to subsection (a) of this Section
			 within 45 days after the end of each calendar quarter including the last
			 calendar quarter of the year.
c)
			 The notified company shall continue to file a completed Exhibit A as specified
			 in subsection (a) of this Section unless otherwise notified by the
			 Director.
Illinois Administrative Code › Title 50 - INSURANCE › Part 936 - SUPPLEMENTAL REPORTS FOR PROPERTY AND CASUALTY INSURANCE COMPANIES › Section 936.60 - Penalties

Current through Register Vol. 48, No. 28, July 12, 2024
Failure of a notified company to file the supplemental reports
				pursuant to Section
				936.50
				of this Part shall subject the notified company to the provisions of Section
				403A of the Illinois Insurance Code [215
				ILCS 5/403A ].
Illinois Administrative Code › Title 50 - INSURANCE › Part 936 - SUPPLEMENTAL REPORTS FOR PROPERTY AND CASUALTY INSURANCE COMPANIES › Exhibit A - Property and Casualty Reporting Form

Current through Register Vol. 48, No. 28, July 12, 2024
Cumulative paid loss development history at successive
				quarterly evaluations for most recent four (4) accident years
(Include
				paid ALAE)
Development Quarter (in months)
Accident Year
3
6
9
12
15
18
21
24
27
30
33
36
39
42
45
48
XXX
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xxx
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XXX
xxx
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xxx
xxx
xxx
XXX
xxx
xxx
xxx
xxx
Cumulative paid
+
case loss development
				history (excluding bulk & IBNR) at successive quarterly evaluations for
				most recent 4 accident yrs.
(This is referred to as "reported")
(Including paid ALAE)
Development Quarter (in months)
Accident Year
3
6
9
12
15
18
21
24
27
30
33
36
39
42
45
48
XXX
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xxx
xxx
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XXX
xxx
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xxx
xxx
xxx
xxx
xxx
xxx
XXX
xxx
xxx
xxx
xxx
Bulk and incurred but not reported reserves on losses and
				ALAE at successive quarterly evaluations for most recent four (4) accident
				years
(Pure bulk and IBNR as well as future development on reported
				claims)
Development Quarter (in months)
Accident Year
3
6
9
12
15
18
21
24
27
30
33
36
39
42
45
48
XXX
xxx
xxx
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XXX
xxx
xxx
xxx
xxx
xxx
xxx
xxx
xxx
XXX
xxx
xxx
xxx
xxx
Earned premium by accident quarter
Accident Quarter
Earned Prem.
xxx
xxx
xxx
xxx
xxx
xxx
xxx
xxx
xxx
xxx
xxx
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xxx
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xxx
Illinois Administrative Code › Title 50 - INSURANCE › Part 939 - MEDICAL LIABILITY INSURANCE LOSS REPORTS › Section 939.10 - Purpose

Current through Register Vol. 48, No. 28, July 12, 2024
The purpose of this Part is to implement Section 155.25 of the
				Illinois Insurance Code (Ill. Rev. Stat. 1991, ch. 73, par. 767.25 ) [215 ILCS
				5/155.25 and 401 ] by listing that information which upon request of the
				Director of Insurance shall be filed with the Director regarding the direct
				claims experience of insurance companies licensed to write medical liability
				insurance in this State.
Illinois Administrative Code › Title 50 - INSURANCE › Part 939 - MEDICAL LIABILITY INSURANCE LOSS REPORTS › Section 939.20 - Required Information

Current through Register Vol. 48, No. 28, July 12, 2024
a) Any
			 insurance company licensed to sell the type of insurance listed in Class 2(c)
			 of Section 4 of the Illinois Insurance Code (Ill. Rev. Stat. 1991, ch. 73, par.
			 616) [215 ILCS 5/4
			 ] and which is writing or has written medical liability insurance in this
			 State, may be required by the Director to file a report with the Director in
			 the format, and containing the information, as specified in Illustrations A, B,
			 C, D, E, and F.
b) The report shall
			 be filed as specified in the Director's request on or before June 1 of each
			 year. It should be directed to the Casualty Actuary, Illinois Department of
			 Insurance, Springfield, Illinois 62767.
Illinois Administrative Code › Title 50 - INSURANCE › Part 939 - MEDICAL LIABILITY INSURANCE LOSS REPORTS › Section 939.30 - Penalties

Current through Register Vol. 48, No. 28, July 12, 2024
Failure of a company to timely file the report which may be
				required by the Director under this Part and Section 155.25 of the Illinois
				Insurance Code shall subject the company to the provisions of Section 403A of
				the Illinois Insurance Code (Ill. Rev. Stat. 1991, ch. 73, par. 1015A)
				[215
				ILCS 5/403A ].
Illinois Administrative Code › Title 50 - INSURANCE › Part 939 - MEDICAL LIABILITY INSURANCE LOSS REPORTS › ILLUSTRATION A - Policies Covering Physicians and Surgeons-Claims Payments

Current through Register Vol. 48, No. 28, July 12, 2024
Illinois Medical Liability Insurance
Loss Report Format - Policies
Covering Physicians and Surgeons - Claim
				Payments
Year In Which Losses
Were Incurred
Loss Payments For
Closed Claims
As of
Difference
a) 12/31/84,
b) 12/31/85,
(b) - a)
Prior to 1978
_______
_______
___________
1978
_______
_______
___________
1979
_______
_______
___________
1980
_______
_______
___________
1981
_______
_______
___________
1982
_______
_______
___________
1983
_______
_______
___________
1984
_______
_______
___________
1985
___x___
______x_____
______________________________________________________
TOTALS
_______
_______
___________
Year In Which Losses
Were Incurred
Loss Payments For
						  Open
And Reopened
						  Claims
As of
Difference
a) 12/31/84,
b) 12/31/85,
(b) - a)
Prior to 1978
_______
_______
___________
1978
_______
_______
___________
1979
_______
_______
___________
1980
_______
_______
___________
1981
_______
_______
___________
1982
_______
_______
___________
1983
_______
_______
___________
1984
_______
_______
___________
1985
___x___
_____x_____
______________________________________________________
TOTALS
_______
_______
___________
General Instructions
1) The above information is due on June 1,
			 1986 and on June 1 every year thereafter as may be required by the Director.
			 For subsequent due dates of June 1, 1987, June 1, 1988, etc.) all years shown
			 in this Illustration should be advanced by one, two, etc.
2) If a loss payment is included in "loss
			 payments for closed claims", it shall not be included in "loss payments for
			 open and reopened claims", or vice versa.
Illinois Administrative Code › Title 50 - INSURANCE › Part 939 - MEDICAL LIABILITY INSURANCE LOSS REPORTS › ILLUSTRATION B - Policies Covering Physicians and Surgeons-Reserves

Current through Register Vol. 48, No. 28, July 12, 2024
Year In Which Losses
Were Incurred
Losses Unpaid On
Reported Claims
As of
Difference
a) 12/31/84,
b) 12/31/85,
(b) - a)
Prior to 1978
_______
_______
___________
1978
_______
_______
___________
1979
_______
_______
___________
1980
_______
_______
___________
1981
_______
_______
___________
1982
_______
_______
___________
1983
_______
_______
___________
1984
_______
_______
___________
1985
___x___
______x_____
______________________________________________________
TOTALS
_______
_______
___________
Year In Which Losses
Were Incurred
Losses Unpaid On
						  Incurred
But Not Reported
						  Claims
As of
Difference
a) 12/31/84,
b) 12/31/85,
(b) - a)
Prior to 1978
_______
_______
___________
1978
_______
_______
___________
1979
_______
_______
___________
1980
_______
_______
___________
1981
_______
_______
___________
1982
_______
_______
___________
1983
_______
_______
___________
1984
_______
_______
___________
1985
___x___
______x_____
______________________________________________________
TOTALS
_______
_______
___________
Year In Which Losses
Were Incurred
Other Unpaid Losses
As of
Difference
a) 12/31/84,
b) 12/31/85,
(b) - a)
Prior to 1978
_______
_______
___________
1978
_______
_______
___________
1979
_______
_______
___________
1980
_______
_______
___________
1981
_______
_______
___________
1982
_______
_______
___________
1983
_______
_______
___________
1984
_______
_______
___________
1985
___x___
______x_____
______________________________________________________
TOTALS
_______
_______
___________
General Instructions
_____________________________________________________________
The above information is due on June 1, 1986 and on June 1
				every year thereafter as may be required by the Director. For subsequent due
				dates of June 1, 1987, June 1, 1988 etc., all years shown in this Illustration
				should be advanced by one, two etc.
Illinois Administrative Code › Title 50 - INSURANCE › Part 939 - MEDICAL LIABILITY INSURANCE LOSS REPORTS › ILLUSTRATION C - Policies Covering Physicians and Surgeons-Number of Claims

Current through Register Vol. 48, No. 28, July 12, 2024
Illinois Medical Liability Insurance
Loss Report Format - Policies Covering
Physicians and Surgeons - Number of
				Claims
Year In Which Losses
Were Incurred
Number of Closed Claims
As of
Difference
a) 12/31/84,
b) 12/31/85,
(b) - a)
Prior to 1978
_______
_______
___________
1978
_______
_______
___________
1979
_______
_______
___________
1980
_______
_______
___________
1981
_______
_______
___________
1982
_______
_______
___________
1983
_______
_______
___________
1984
_______
_______
___________
1985
___x___
______x_____
______________________________________________________
TOTALS
_______
_______
___________
Year In Which Losses
Were Incurred
Number of Open And
Reopened Claims
As of
Difference
a) 12/31/84,
b) 12/31/85,
(b) - a)
Prior to 1978
_______
_______
___________
1978
_______
_______
___________
1979
_______
_______
___________
1980
_______
_______
___________
1981
_______
_______
___________
1982
_______
_______
___________
1983
_______
_______
___________
1984
_______
_______
___________
1985
___x___
______x_____
______________________________________________________
TOTALS
_______
_______
___________
General Instructions
1) The above information is due on June 1,
			 1986 and on June 1 every year thereafter as may be required by the Director.
			 For subsequent due dates of June 1, 1987, June 1, 1988, etc., all years in this
			 Illustration should be advanced by one, two, etc.
2) If a claim count is included in "number of
			 closed claims", it shall not be included in "number of open and reopened
			 claims", or vice versa.
Illinois Administrative Code › Title 50 - INSURANCE › Part 939 - MEDICAL LIABILITY INSURANCE LOSS REPORTS › ILLUSTRATION D - Other Policies-Claim Payments

Current through Register Vol. 48, No. 28, July 12, 2024
Illinois Medical Liability Insurance
Loss Report Format - Other Policies - Claim
				Payments
Year In Which Losses
Were Incurred
Loss Payments for
Closed Claims
As of
Difference
a) 12/31/84,
b) 12/31/85,
(b) - a)
Prior to 1978
_______
_______
___________
1978
_______
_______
___________
1979
_______
_______
___________
1980
_______
_______
___________
1981
_______
_______
___________
1982
_______
_______
___________
1983
_______
_______
___________
1984
_______
_______
___________
1985
___x___
______x_____
______________________________________________________
TOTALS
_______
_______
___________
Year In Which Losses
Were Incurred
Loss Payments For Open
and Reopened Claims
As of
Difference
a) 12/31/84,
b) 12/31/85,
(b) - a)
Prior to 1978
_______
_______
___________
1978
_______
_______
___________
1979
_______
_______
___________
1980
_______
_______
___________
1981
_______
_______
___________
1982
_______
_______
___________
1983
_______
_______
___________
1984
_______
_______
___________
1985
___x___
______x_____
______________________________________________________
TOTALS
_______
_______
___________
General Instructions
1) The above information is due on June 1,
			 1986 and on June 1 every year thereafter as may be required by the Director.
			 For subsequent due dates of June 1, 1987, June 1, 1988, etc., all years shown
			 in this Illustration should be advanced by one, two, etc.
2) If a loss payment is included in "loss
			 payments for closed claims", it shall not be included in "loss payments for
			 open and reopened claims", or vice versa.
Illinois Administrative Code › Title 50 - INSURANCE › Part 939 - MEDICAL LIABILITY INSURANCE LOSS REPORTS › ILLUSTRATION E - Other Policies-Reserves

Current through Register Vol. 48, No. 28, July 12, 2024
Illinois Medical Liability Insurance
Loss Report Format - Other Policies -
				Reserves
Year In Which Losses
Were Incurred
Losses Unpaid On
Reported Claims
As of
Difference
a) 12/31/84,
b) 12/31/85,
(b) - a)
Prior to 1978
_______
_______
___________
1978
_______
_______
___________
1979
_______
_______
___________
1980
_______
_______
___________
1981
_______
_______
___________
1982
_______
_______
___________
1983
_______
_______
___________
1984
_______
_______
___________
1985
___x___
______x_____
______________________________________________________
TOTALS
_______
_______
___________
Year In Which Losses
Were Incurred
Losses Unpaid on Incurred
But Not Reported Claims
As of
Difference
a) 12/31/84,
b) 12/31/85,
(b) - a)
Prior to 1978
_______
_______
___________
1978
_______
_______
___________
1979
_______
_______
___________
1980
_______
_______
___________
1981
_______
_______
___________
1982
_______
_______
___________
1983
_______
_______
___________
1984
_______
_______
___________
1985
___x___
______x_____
______________________________________________________
TOTALS
_______
_______
___________
Year In Which Losses
Were Incurred
Other Unpaid Losses
As of
Difference
a) 12/31/84,
b) 12/31/85,
(b) - a)
Prior to 1978
_______
_______
___________
1978
_______
_______
___________
1979
_______
_______
___________
1980
_______
_______
___________
1981
_______
_______
___________
1982
_______
_______
___________
1983
_______
_______
___________
1984
_______
_______
___________
1985
___x___
______x_____
______________________________________________________
TOTALS
_______
_______
___________
General Instructions
The above information is due on June 1, 1986 and on June 1
				every year thereafter as may be required by the Director. For subsequent due
				dates of June 1, 1987, June 1, 1988, etc., all years shown in this Illustration
				should be advanced by one, two, etc.
Illinois Administrative Code › Title 50 - INSURANCE › Part 939 - MEDICAL LIABILITY INSURANCE LOSS REPORTS › ILLUSTRATION F - Other Policies-Number of Claims

Current through Register Vol. 48, No. 28, July 12, 2024
Illinois Medical Liability Insurance
Loss Report Format - Other Policies - Number of
				Claims
Year In Which Losses
Were Incurred
Number of Closed Claims
As of
Difference
a) 12/31/84,
b) 12/31/85,
(b) - a)
Prior to 1978
_______
_______
___________
1978
_______
_______
___________
1979
_______
_______
___________
1980
_______
_______
___________
1981
_______
_______
___________
1982
_______
_______
___________
1983
_______
_______
___________
1984
_______
_______
___________
1985
___x___
______x_____
______________________________________________________
TOTALS
_______
_______
___________
Year In Which Losses
Were Incurred
Number of Open And Reopened
						  Claims
As of
Difference
a) 12/31/84,
b) 12/31/85,
(b) - a)
Prior to 1978
_______
_______
___________
1978
_______
_______
___________
1979
_______
_______
___________
1980
_______
_______
___________
1981
_______
_______
___________
1982
_______
_______
___________
1983
_______
_______
___________
1984
_______
_______
___________
1985
___x___
______x_____
______________________________________________________
TOTALS
_______
_______
___________
General Instructions
1) The above information is due on June 1,
			 1986 and on June 1 every year thereafter as may be required by the Director.
			 for subsequent due dates of June 1, 1987, June 1, 1988, etc., all years shown
			 in this Illustration should be advanced by one, two, etc.
2) If a claim or loss payment is included in
			 "number of closed claims", it shall not be included in "number of open and
			 reopened claims", or vice versa.
Illinois Administrative Code › Title 50 - INSURANCE › Part 940 - MID-TERM CANCELLATIONS › Section 940.10 - Purpose

Current through Register Vol. 48, No. 28, July 12, 2024
This Part is issued pursuant to Section 401 of the Code in
				order to implement Section 143.16 a(e) of the Code by establishing standards
				and procedures for the filing and acceptance of certifications of the loss of
				reinsurance by the Illinois Director of Insurance.
Illinois Administrative Code › Title 50 - INSURANCE › Part 940 - MID-TERM CANCELLATIONS › Section 940.20 - Definitions

Current through Register Vol. 48, No. 28, July 12, 2024
"Code" means the Illinois Insurance Code [ 215 ILCS 5 ].
"Department" means the Illinois Department of Insurance.
"Director" means the Illinois Director of
				Insurance.
Illinois Administrative Code › Title 50 - INSURANCE › Part 940 - MID-TERM CANCELLATIONS › Section 940.30 - Certification

Current through Register Vol. 48, No. 28, July 12, 2024
a) No notice of
			 cancellation may be issued by any insurer under authority of Section 143.16
			 a(e) of the Code unless the insurer has filed the certification and documents
			 described by this Section and received notification of its acceptance from the
			 Director.
b) Certification of the
			 loss of reinsurance under Section 143.16a(e) of the Code shall consist of a
			 written statement signed by a principal officer of the company identifying the
			 specific lines of insurance affected by the loss of reinsurance, giving an
			 estimate of the number of Illinois policies to be cancelled, describing the
			 reason for the loss of reinsurance, describing all efforts to renew and/or
			 replace the reinsurance lost, and affirming that the insurer will cancel only
			 those policies that were covered by the lost reinsurance.
c) Every certification filed under this Part
			 must be accompanied by the following documents:
1) a copy of the reinsurance contract that
			 had provided coverage for the policies to be cancelled;
2) a copy of any notice of cancellation of
			 reinsurance issued by the reinsurer and effecting the policies to be cancelled;
			 and
3) a copy of any new
			 reinsurance contract replacing the lost reinsurance and purporting to omit
			 reinsurance coverage for the policies to be cancelled.
Illinois Administrative Code › Title 50 - INSURANCE › Part 941 - MISREPRESENTATION AND FALSE WARRANTIES › Section 941.10 - Applicability

Current through Register Vol. 48, No. 28, July 12, 2024
No misrepresentation or false warranty made by the
				insured or in
the insured's
behalf in the negotiation for a
				policy of insurance, or breach of a condition of the policy, shall defeat or
				avoid the policy or prevent its attaching unless such misrepresentation, false
				warranty or condition shall have been stated in the policy or endorsement, or
				in a rider to or in the written application for
the policy.
No
				such misrepresentation or false warranty shall defeat or avoid the
				policy
or result in denial of an insurance claim
unless it was
				made with actual intent to deceive or materially affects either the acceptance
				of the risk or the hazard assumed by the company. With respect to a policy of
				insurance as defined in
Section 143.13(a), (b) or (c) of the Insurance
				Code,
except life, accident and health, fidelity and surety, and ocean
				marine policies, a policy or policy renewal shall not be rescinded after the
				policy has been in effect for one year or one policy term, whichever is less.
				This Section shall not apply to policies of marine or transportation
				insurance.
[215 ILCS
				5/154 ]
Illinois Administrative Code › Title 50 - INSURANCE › Part 941 - MISREPRESENTATION AND FALSE WARRANTIES › Section 941.20 - Misrepresentation

Current through Register Vol. 48, No. 28, July 12, 2024
If the company opts not to obtain readily available information
				about the named insureds and drivers listed on the application to underwrite
				the risk prior to issuing the policy, the company shall not defeat, avoid or
				rescind the policy of insurance or deny an insurance claim based on obtaining
				the readily available information after a loss has occurred or a claim is
				filed. "Readily available information" is defined to be limited to the
				information that appears on the motor vehicle record (MVR) maintained by the
				Illinois Secretary of State and LexisNexis Comprehensive Loss Underwriting
				Exchange (C.L.U.E.) Auto Reports, or any of their corresponding subsequent
				equivalents. The company shall not defeat, avoid or rescind the policy of
				insurance or deny an insurance claim after identifying an undisclosed driver in
				the household unless the undisclosed individual was driving the vehicle at the
				time of the accident.
Illinois Administrative Code › Title 50 - INSURANCE › Part 1051 - CREDIT LIFE AND CREDIT ACCIDENT AND HEALTH INSURANCE › Section 1051.10 - Credit Life Insurance

Current through Register Vol. 48, No. 28, July 12, 2024
a) Only
			 Decreasing Term Insurance may be written in connection with an indebtedness
			 which is repayable in substantially equal installments.
b) Level Term Insurance may be written only
			 in connection with an indebtedness not repayable in substantially equal
			 installments.
c) The amount of
			 insurance should at no time exceed the scheduled or actual amount of unpaid
			 indebtedness, whichever is greater.
Illinois Administrative Code › Title 50 - INSURANCE › Part 1051 - CREDIT LIFE AND CREDIT ACCIDENT AND HEALTH INSURANCE › Section 1051.30 - Purpose and Scope

Current through Register Vol. 48, No. 28, July 12, 2024
The purpose of this Part is to establish a procedure and
				methodology for the review of Credit Life Insurance rates by the Director of
				Insurance, and to establish standards for the review of such rates. This Part
				does not apply to Credit Accident and Health Insurance, nor does 50 Ill. Adm.
				Code 952 apply to Credit Life Insurance.
Illinois Administrative Code › Title 50 - INSURANCE › Part 1051 - CREDIT LIFE AND CREDIT ACCIDENT AND HEALTH INSURANCE › Section 1051.40 - Definitions

Current through Register Vol. 48, No. 28, July 12, 2024
"Credit life insurance" means insurance as defined in Section
				155.52(a) of the Illinois Insurance Code.
"Code" means the Illinois Insurance Code (Ill. Rev. Stat. 1985,
				ch. 73, par. 613 et seq.).
"Department" means the Department of Insurance of the State of
				Illinois.
"Director" means the Director of Insurance.
"Earned Premiums" means premiums earned at the premium rates
				actually charged and in force during the experience period.
"Experience" means earned premiums and incurred claims during
				the experience period.
"Experience Period" means the most recent period of time for
				which experience is reported, but not for a period longer than three full
				years.
"Incurred Claims" means total claims paid during the experience
				period, adjusted for the change in claim reserve.
"Indebtedness" means total amount repayable including
				principal, interest and finance charges.
"Net Written Premium" means gross written premium minus refunds
				on termination.
"Prima Facie Rate" means a rate which will be accepted by the
				Director without filing detailed actuarial support as providing a reasonable
				credit life insurance benefit in relation to the premium
				charged.
Illinois Administrative Code › Title 50 - INSURANCE › Part 1051 - CREDIT LIFE AND CREDIT ACCIDENT AND HEALTH INSURANCE › Section 1051.50 - Credit Life Insurance Rates

Current through Register Vol. 48, No. 28, July 12, 2024
A credit life insurance rate shall be considered prima facie
				reasonable in relation to the benefits provided if the rate is not greater than
				that set forth below in subsection (a) for coverage containing no more
				restrictive exclusions than those described in subsection (b) of this
				Section.
a) Premium Rate. Credit life
			 insurance premium rates for the insured portion of an indebtedness repayable in
			 equal monthly installments, where the insured portion of the indebtedness
			 decreases uniformly by the amount of the monthly installment paid, shall be as
			 set forth in subsections (a)(1), (2) and (3). Subsections (a)(4), (5) and (6)
			 refer to premium rates for other types of benefits either alone or in
			 combination with the type of benefits applicable to subsections (a)(1), (2) and
			 (3).
1) If premiums are payable monthly on
			 the outstanding insured balance basis for term insurance on a single insured
			 debtor, the prima facie premium rate shall be $.72 per month per $1,000 of
			 outstanding insured indebtedness.
2) If premiums are payable on a single
			 premium basis for term insurance which decreases in equal monthly amounts on a
			 single insured debtor, the prima facie premium rate shall be $.47 per annum per
			 $100 of initial insured indebtedness.
3) If premiums are payable on a single
			 premium basis for level term insurance on a single insured debtor, the prima
			 facie premium rate shall be $.94 per annum per $100 of initial insured
			 indebtedness.
4) A combination of
			 the appropriate rate for level term and the appropriate rate for decreasing
			 term (with equal decrements), if coverage provided is a combination of level
			 term and decreasing term (with equal decrements) on a single insured
			 debtor.
5) Joint credit life rate
			 shall be 1.67 times the appropriate single life rate.
6) If the benefits provided are other than
			 those described in subsections (a)(1), (2), (3), (4) and (5) of this
			 subsection, then rates for such benefits shall be actuarially consistent with
			 the rates provided in subsections (a)(1), (2), (3), (4) and (5) of this
			 subsection.
Illinois Administrative Code › Title 50 - INSURANCE › Part 1051 - CREDIT LIFE AND CREDIT ACCIDENT AND HEALTH INSURANCE › Section 1051.60 - Experience Reports and Adjustment of Prima Facie Rates

Current through Register Vol. 48, No. 28, July 12, 2024
a) Each insurer doing credit insurance
			 business in this state shall annually file with the Director and the National
			 Association of Insurance Commissioners (NAIC) Support & Services Office a
			 report of credit life business written in Illinois on a calendar year basis.
			 Such report shall utilize the Credit Insurance Supplement - Annual Statement
			 Blank as approved by the National Association of Insurance Commissioners. Such
			 filings shall be made no later than June 30th of each year.
b) Commencing July 1, 1991, and triennially
			 thereafter, the Director will review the appropriateness of the prima facie
			 rates set forth in Section
			 951.50
			 based upon credible Illinois experience data (statistical data that would show
			 a negligible sampling error) collected from companies writing credit life
			 insurance in the State during the preceding three years pursuant to subsection
			 (a) above. The Director may determine therefrom the rate of expected claims on
			 a statewide basis, and compare such rate of expected claims with the rate of
			 actual claims for the preceding triennium, if actuarially appropriate,
			 determined from the incurred claims and earned premiums at prima facie rates
			 reported in the Annual Statement Supplement and filed with the Director
			 pursuant to subsection (a) above. The Director shall also review changes in
			 mortality experience for credit life insurance, changes in the average credit
			 life policy or certificate size, changes in the fixed and variable expenses for
			 credit life insurance, and other factors relevant to the credit life insurance
			 premium rate including a reasonable profit margin for insurance companies
			 writing credit insurance in determining whether to recommend a change in the
			 prima facie rate as a result of this triennial review of credit life insurance
			 experience.
Illinois Administrative Code › Title 50 - INSURANCE › Part 1051 - CREDIT LIFE AND CREDIT ACCIDENT AND HEALTH INSURANCE › Section 1051.70 - Credit Life Rate Adjustments

Current through Register Vol. 48, No. 28, July 12, 2024
a) No
			 insurance company may charge or collect a credit life insurance premium which
			 would not be considered reasonable under this Part. Unless otherwise approved
			 by the Director pursuant to this Section, no insurance company writing credit
			 insurance in this state shall charge or collect a premium rate in excess of the
			 prima facie rate established by Section
			 951.50
			 of this Part which shall be conclusively presumed to satisfy this general
			 standard.
b) No insurance company
			 may charge or collect a credit life insurance premium rate higher than the
			 prima facie rate, unless it files with the Director 60 days prior to the
			 intended effective date of such rate, credible Illinois experience data,
			 actuarial procedures and ratemaking assumptions in support of its proposed
			 rate, and it demonstrates to the Director in an administrative hearing (see 50
			 Ill. Adm. Code 2402) that a higher credit life insurance rate is reasonable in
			 relation to the benefits provided for each credit life insurance policy form
			 which contains the rate. A hearing request to determine the reasonableness of a
			 rate must be made in writing by the insurance company seeking approval of the
			 policy form which contains the rate at least 45 days prior to the intended
			 effective date of such rate. A proposed rate will be approved for a 12 month
			 period beginning on the effective date of the proposed rate only if such
			 ratemaking procedure is actuarially sound, and will produce a credit life
			 insurance benefit that is reasonable in relation to the credit life insurance
			 premium charged by the requesting company during the next 12 months beginning
			 after the effective date. No policy form may be approved for more than one year
			 where the rate contained therein is greater than the prima facie rate contained
			 in Section 951.50.
Illinois Administrative Code › Title 50 - INSURANCE › Part 1051 - CREDIT LIFE AND CREDIT ACCIDENT AND HEALTH INSURANCE › Section 1051.80 - Effective Date

Current through Register Vol. 48, No. 28, July 12, 2024
Approval of all forms not in compliance with this Part are
				hereby withdrawn as of 60 days subsequent to the effective date of this Part,
				and may not be used unless an approved rider has been attached bringing such
				form into compliance with this Part.
Illinois Administrative Code › Title 50 - INSURANCE › Part 1052 - CREDIT ACCIDENT AND HEALTH INSURANCE › Section 1052.20 - Definitions

Current through Register Vol. 48, No. 28, July 12, 2024
"Credit accident and health insurance" means insurance on a
				debtor to provide indemnity for payments becoming due on a specific loan or
				other credit transaction while the debtor is disabled as defined in the policy
				[
				215 ILCS
				5/155.52(b) ].
Illinois Administrative Code › Title 50 - INSURANCE › Part 1052 - CREDIT ACCIDENT AND HEALTH INSURANCE › Section 1052.30 - Credit Accident and Health Insurance Coverage

Current through Register Vol. 48, No. 28, July 12, 2024
If coverage for credit accident and health insurance is
				contingent upon the insured working a minimum amount of hours a week, then the
				application for insurance must contain a question eliciting a response
				indicating that the insured does or does not currently work the minimum number
				of hours. Additionally, if the credit accident and health insurance is offered
				on a guaranteed issue basis, the individual policy or group certificate must
				include a clear statement that stipulates the minimum of hours that must be
				worked a week.
Illinois Administrative Code › Title 50 - INSURANCE › Part 1052 - CREDIT ACCIDENT AND HEALTH INSURANCE › Section 1052.40 - Filing and Approval of Premiums

Current through Register Vol. 48, No. 28, July 12, 2024
In determining whether or not the benefits in any policy form
				submitted by an insurer for approval are "reasonable" in relation to the
				premium, an ultimate loss ratio of fifty percent (50%) will be deemed to
				provide benefits reasonable in relation to the premium.
Illinois Administrative Code › Title 50 - INSURANCE › Part 1053 - PREMIUM REFUNDS › Section 1053.10 - Computation of Premium Refunds

Current through Register Vol. 48, No. 28, July 12, 2024
a) The
			 refund of return premiums in the case of Decreasing Term Insurance issue under
			 Article IX1/2 of the Illinois Insurance Code shall be computed by the "Sum of
			 Digits" formula, commonly known as the "Rule of Seventy Eighths".
b) The refund of return premiums in the case
			 of Level Term Life Insurance shall be equal to the pro rata gross unearned
			 premium.
c) A premium refund need
			 not be made if the amount thereof is less than $1.00.