Section 925.20  Purpose and Scope

This Part shall not prohibit, preclude or in any way limit the Director from ordering and/or conducting and/or performing examinations of insurers under his jurisdiction in the operations, practices, procedures, or other matters including financial condition and operations of such insurers. Such examinations shall be conducted as currently established and/or performed or to be established and/or performed under the Statutes of the State of Illinois, the Rules of the Illinois Department of Insurance and the practices and procedures of the Illinois Department of Insurance.  The purpose of this Part is to improve the Director's surveillance of the financial condition of insurers by requiring an annual audit by accountants of the financial statements reporting the financial position and the results of operations of insurers.  Every insurer, as defined in Section 925.30 of this Part, shall be subject to this Part except those insurers exempt under Section 925.140 of this Part.

(Source:  Amended at 19 Ill. Reg. 12229, effective August 14, 1995)