Illinois Administrative Code
Title 50 - INSURANCE
Part 2701 - SURPLUS LINE BUSINESS REQUIREMENTS
Section 2701.60 - Record of Efforts to Procure Policies or Contracts
Universal Citation: 50 IL Admin Code ยง 2701.60
Current through Register Vol. 48, No. 12, March 22, 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.
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