Ill. Admin. Code tit. 50 § 1104.35

Current through Register Vol. 48, No. 45, November 8, 2024

Section 1104.35 - Credit for Reinsurance - Reinsurer Domiciled in Another State

a) As part of complying with Section 173.1(1)(B-5)(1)(b) of the Code, an assuming insurer or U.S. branch of an alien assuming insurer must file with the Director a properly executed Form AR-1 found in Appendix A, which will be evidence of its submission to this State's authority to examine its books and records.

b) As used in Section 173.1(1)(B-5)(1) of the Code, substantially similar standards means credit for reinsurance standards the Director determines equal or exceed the standards of Article XI of the Code and this Part.

Ill. Admin. Code tit. 50, § 1104.35

Added at 43 Ill. Reg. 14163, effective 11/19/2019