Ill. Admin. Code tit. 50, pt. 2010, app A, ILLUSTRATION P
Current through Register Vol. 48, No. 50, December 13, 2024
The rule requires that both approval or endorsement of a policy by an individual, group of individuals, society, association, or other organization be factual and that any proprietary relationship between the sponsoring or endorsing organization and the insurer be disclosed. For example, if the dividend under an association group case is payable to the association, disclosure of that fact is required. Also, if the insurer or an officer of the insurer formed or controls the association, that fact must be disclosed. This guideline also applies to Section 2010.80(e).
Ill. Admin. Code tit. 50, pt. 2010, app A, ILLUSTRATION P