Ill. Admin. Code tit. 50 § 4201.20
Current through Register Vol. 48, No. 50, December 13, 2024
Section 4201.20 - Annual Feea) Each insurance company licensed to write property and casualty insurance business in this State shall, on or before June 1 of each year, pay to the Director of Insurance an annual fee in accordance with the following schedule of Illinois premium: PREMIUM VOLUME | FEE |
Premium equal to $0 of less than $1 million | $ 288 |
Premium equal to or greater than $1 million but less than $5 million | $ 1150 |
Premium equal to or greater than $5 million but less than $25 million | $ 5750 |
Premium equal to or greater than $25 million but less than $50 million | $ 8625 |
Premium equal to or greater than $50 million | $11,500 |
b) The premium volume to be used in determining a company's annual fee shall be the sum of the company's previous year's direct written premium as set forth on lines 5.2, 11, 17, 18, 19.1, 19.2, 19.3, 19.4, 21.1 and 21.2 of the Exhibit of Premiums and Losses of the company's Illinois Annual Statement filed with the Department pursuant to Section 136 of the Illinois Insurance Code [215 ILCS 5/136 ].c) The Department shall notify by mail each company licensed to write property and casualty insurance business in this State of the amount of its annual fee calculated pursuant to subsection (b) of this Section.d) All annual fees payable pursuant to this Part shall be due on or before June 1 for the preceding calendar year. Such annual fee shall be made payable to the Director of Insurance/SSRF.Ill. Admin. Code tit. 50, § 4201.20
Amended at 22 Ill. Reg. 18974, effective October 1, 1998