TITLE 50: INSURANCE
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AUTHORITY: Implementing Section 4 class 2(f) and authorized by Section 401 of the Illinois Insurance Code (Ill. Rev. Stat. 1981, ch. 73, pars 616 class 2(f) and 1013).
SOURCE: Effective June 15, 1934; codified at 7 Ill. Reg. 2355.
Section 102.10 Contracts with Glass Companies
a) Insurers licensed to write plate glass insurance in the State of Illinois may not enter into contracts with a glass company whereby in consideration of the payment of a specified percentage of the earned premiums on all plate glass business written, the glass company agrees to undertake to inspect, service and replace any an all plate glass insured by such companies.
b) A contract of this nature is an insurance contract and as such it is in violation of the insurance statutes of this State, which provide that all insurers shall qualify with this Department and operate under its direct supervision.