Ill. Admin. Code tit. 50 § 3801.50

Current through Register Vol. 49, No. 2, January 10, 2025

Section 3801.50 - Small Employer Carrier Rating and Underwriting Record Maintenance

A small employer carrier shall maintain and have accessible at its principal place of business for a period of 3 years from the date of actuarial certification the following records and information:

a) A complete and detailed description of its rating practices and renewal underwriting practices;

b) 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; and

c) Any work papers or other information and documentation prepared in support of the actuarial certification.

Ill. Admin. Code tit. 50, § 3801.50

Recodified from 5101.50 at 40 Ill. Reg. 16164.