18-181A 18-181A . . . Insurance Agents Stock Option Plan under which Compensation Committee may grant Non-qualified Stock Options to any insurance agent who signs agreement which commits agent to produce at least $300,000 of premiums during specific three-year period ("Qualification Period"). Number of shares covered by option is equal to agent's premium commitment divided by $100, and options become exercisable only to extent agent satisfies his or her minimum commitment for premiums during Qualification Period, and only to extent loss ratios for insurance business written meet or exceed certain performance criteria
Illinois Insurance Agents Stock option plan
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FAQ
In Illinois, first-party bad faith claims are governed by a statutes and regulations, but typically are pursued by individuals filing a lawsuit against their own insurance company for either breach of contract or declaratory judgment.
The Illinois Insurance Code (215 ILCS 5 / 1 et seq.)
Any insurer insuring any person or entity against damages arising out of a vehicular crash shall disclose the dollar amount of liability coverage under the insured's personal private passenger automobile liability insurance policy upon receipt of the following: (a) a certified letter from a claimant or any attorney ...
Section 143.1 provides: "Whenever any policy or contract for insurance, except life, accident and health, fidelity and surety, and ocean marine policies, contains a provision limiting the period within which the insured may bring suit, the running of such period is tolled from the date proof of loss is filed, in ...
Rebates -- penalties 215 ILCS 5/151 215 ILCS 5/152 No insurer, agent or broker shall offer, give, etc., any rebate of premium, agent's commission, profits, dividends, or any special advantage in date of policy or age of issue, or any other valuable consideration or inducement, upon issuance or renewal, which is not ...
215 ILCS 5/143(2) Director may disapprove any form that contains inconsistent, ambiguous, or misleading clauses. Applications must be filed. 50 IL Adm. Code 753 Applications must be filed, including online/electronic applications.
§ 143a. Uninsured and hit and run motor vehicle coverage. (6) any other document not specifically covered by any of the foregoing provisions that is otherwise admissible under the rules of evidence.
Under Section 155 of the Illinois Insurance Code, an insured or an assignee may recover damages from an insurer if the insurer disputes the amount of the loss payable on a claim, delays settling a claim, or refuses to provide coverage and the insurer's action or delay was unreasonable and vexatious.