Illinois Administrative Code
Title 50 - INSURANCE
Part 754 - RULES AND RATE FILINGS
Section 754.30 - Documentation - Individual Risks
Current through Register Vol. 48, No. 12, March 22, 2024
a) A company is not required to file under Section 754.10 for individual risks in this State that cannot be rated in the normal course of business rating because of special or unusual characteristics and that must be rated on the basis of underwriting judgment. This procedure does not apply to Workers' Compensation insurance.
b) A company must maintain documentary information regarding rates determined in subsection (a) for review by the Department's Property and Casualty Compliance Unit.
c) A company is not required to file rates on individual risks in this State when the development of the rate for the individual risk is dependent upon an inspection of improvements on real property and an application of a schedule, the elements of which include loss ratio, hazard analysis, risk analysis and classification of municipal fire defenses.
d) A company must, however, maintain documentary information for the rates in subsection (c) by: