§2701.100. License Rejection or Renewal Refusal

Application for a surplus line producer license shall be rejected, or renewal thereof refused, for failure:

 

a)         to pay the tax required by Section 445 of the Illinois Insurance Code and by Section 12 of the Fire Investigation Act [425 ILCS 25/12]; or

 

b)         to pay the annual license fee to the Director of Insurance pursuant to Section 445(2) of the Code; or

 

c)         to pay the fee due the Surplus Line Association; or

 

d)         to exert diligent effort to secure the business required by an insured from duly authorized insurers; or

 

e)         to procure surplus line policies or contracts or coverage from insurers that have at least $15,000,000 in policyholders surplus and have the standards of solvency or management necessary for the protection of policyholders; or

 

f)         to process all surplus line business on Illinois risks through the Surplus Line Association; or

 

g)         to maintain records and accounts pursuant to Section 445 of the Code; or

 

h)         to maintain membership in the Surplus Line Association of Illinois; or

 

i)          to comply with the requirements of the Illinois Insurance Code or 50 Ill. Adm. Code.

 

(Source:  Amended at 40 Ill. Reg. 216, effective December 21, 2015)