(215 ILCS 93/30)
Sec. 30.
Rating and underwriting records.
(a) A small employer carrier shall maintain at its principal place of
business a complete and detailed description of its rating practices and
renewal underwriting practices, including information and documentation that
demonstrates that its rating methods and practices are based upon commonly
accepted actuarial assumptions and are in accordance with sound actuarial
principles.
(b) A small employer carrier shall file with the Director annually on or
before May 15, an actuarial certification certifying that the carrier is in
compliance with this Act, and that the rating methods of the small employer
carrier are actuarially sound. Such certification shall be in a form and
manner, and shall contain such information, as specified by the Director. A
copy of the certification shall be retained by the small employer carrier at
its principal place of business for a period of three years from the date of
certification. This shall include any work papers prepared in support of the
actuarial certification.
(c) A small employer carrier shall make the information and documentation
described in subsection (a) available to the Director upon request. Except in
cases of violations of this Act, the information shall be considered
proprietary and trade secret information and shall not be subject to disclosure
by the Director to persons outside of the Department except as agreed to by the
small employer carrier or as ordered by a court of competent jurisdiction.
(Source: P.A. 91-510, eff. 1-1-00.)
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