IL | The Illinois Department of Insurance has issued Company Bulletin 2021-14.
Under Public Act 102-16 each issuer is required to file with the Illinois Department of Insurance (IDOI) specific data as outlined under 20 ILCS 4005/8.6.
Instructions for Submission: Before April 1 of each year, each insurer engaged in writing private passenger motor vehicle insurance coverage that is included in Class 2 and Class 3 of Section 4 of the Illinois Insurance Code shall collect and remit to the Department of Insurance an amount equal to $4 multiplied by the insurer’s total earned car years of private passenger motor vehicle insurance policies providing physical damage insurance coverage written in this State during the preceding calendar year.
You may access the reporting template for submission on IDOI’s website HERE by clicking on CB 2021-14 Form. Note that issuers are required to utilize this format when completing and submitting each year’s fee. An officer signature attesting to the reported exposure count is required.