50 Ill. Adm. Code 2002.APPENDIX A
A Guidelines
Section 2002.APPENDIX A
Guidelines
Section 2002.ILLUSTRATION C Guideline
to Section 2002.30(b)
a) This Section holds a company responsible for the actions of an
agent or employee unless the company can demonstrate that it had no prior
knowledge of the actions and unless the company can demonstrate to the
satisfaction of the Director of Insurance that it has an adequate system of
control as described in Section 2002.30(b) of this Part.
b) It is recognized that there are three kinds of
advertisements:
1) offer to contract,
2) offer to inquire, and
3) institutional advertisements.
These distinctions
are made since, historically, different provisions in a policy were required or
not required to be disclosed depending on the kind of advertisement; the
company's attention is directed to Sections 2002.40, 2002.70(b)(1), and Section
2002.80 in determining those provisions that must be disclosed.