Sec. 144.2. Notification of insurance business.
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/il/chapter-215/act-5/144-2A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Sec. 144.2. Notification of insurance business.
(a)Upon notice by the Director, a company having direct premium income must file with the Director supplemental information regarding its insurance business. The Director shall by rule establish standards to determine the companies to be given notice.
(b)The notice prescribed by this Section may require the company to provide information concerning, but not limited to, the following:
(1)adequacy of rates;
(2)marketing methodology and acquisition expenses;
(3)underwriting standards;
(4)recordkeeping and statistical systems;
(5)claim systems and claim reserving systems;
(6)reinsurance; and
(7)the general financial condition of the company.