ADMINISTRATIVE CODE

TITLE 50: INSURANCE
CHAPTER I: DEPARTMENT OF INSURANCE
SUBCHAPTER l: PROVISIONS APPLICABLE TO ALL COMPANIES
PART 936 SUPPLEMENTAL REPORTS FOR PROPERTY AND CASUALTY INSURANCE COMPANIES

Section 936.10 Purpose

Section 936.20 Applicability

Section 936.30 Definitions

Section 936.40 Notification Procedures

Section 936.50 Reporting Requirements for Notified Property and Casualty Companies Having Direct Premium Income

Section 936.60 Penalties

Section 936.EXHIBIT A Property and Casualty Reporting Form

Section 936.10 Purpose

The purpose of this Part is to establish notification procedures and supplemental reporting requirements for property and casualty insurance companies.

TITLE 50: INSURANCE
CHAPTER I: DEPARTMENT OF INSURANCE
SUBCHAPTER l: PROVISIONS APPLICABLE TO ALL COMPANIES
PART 936 SUPPLEMENTAL REPORTS FOR PROPERTY AND CASUALTY INSURANCE COMPANIES
SECTION 936.20 APPLICABILITY

Section 936.20 Applicability

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].

Section 936.30 Definitions

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.

Section 936.40 Notification Procedures

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.

b) The Director will notify, in writing, the companies that meet one or more of the conditions listed in subsection (a) of this Section. The Director's written notification shall include the reason the supplemental reporting is being required from the notified company.

Section 936.50 Reporting Requirements for Notified Property and Casualty Companies Having Direct Premium Income

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.

Section 936.60 Penalties

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].

Section 936.EXHIBIT A Property and Casualty Reporting Form