Ill. Admin. Code tit. 50 § 920.70

Current through Register Vol. 48, No. 45, November 8, 2024

Section 920.70 - Enforcement/Penalties

a) Failure of an insurer to meet any requirement of this Part with such frequency as to constitute a general business practice is considered an unfair method of competition and unfair or deceptive practice as defined in Section 424 of the Code and may result in disciplinary action by the Department.

b) Failure of an insurer to accurately and completely respond to Lost Policy Finder requests received within the 30 or 45 day period, as applicable under Section 25 of the Act, is deemed to be a general business practice constituting an unfair method of competition and unfair or deceptive practice as defined in Section 424 of the Code and may result in disciplinary action by the Department.

Ill. Admin. Code tit. 50, § 920.70

Adopted at 43 Ill. Reg. 8850, effective 7/30/2019.