Section 901.20  Procedures for Compiling and Submitting Lists and Schedules of Records for Destruction

a)         The company shall submit to the Director lists or schedules of records in its custody that are not needed in the transaction of current business or for the final settlement or disposition of any claim arising out of a policy of insurance issued by the company and are not required to determine the financial condition of the company for the period since the date of the last examination report of the company officially filed with the Department of Insurance and that do not have sufficient administrative legal or fiscal value to warrant their further preservation, or that the retention of the records is an unnecessary expense to the company and such records serve no useful purpose.

1)         Lists are applications for authority to destroy accumulated records.

2)         Schedules are applications for continuing authority to destroy records after specified periods of time or the occurrence of specified events.

b)         New schedules are required whenever the informational contents of a records series are changed.

c)         Duplicate copies of all requests for authority to destroy records, accompanied by lists or schedules of such records, shall be submitted to the Director of Insurance at the offices of the Department in Springfield, Illinois, attached to duplicate executed copies of the following form of Affidavit:

AFFIDAVIT

FOR PERMISSION TO DESTROY RECORDS PURSUANT TO

SECTION 133 (2) OF THE ILLINOIS INSURANCE CODE

We, the undersigned, _____________, President and _________________, Secretary, duly authorized in this regard as representatives of ________________ Insurance Company, being separately sworn, each for himself on his oath says:

that he is the above described Officer of the Company; that he is familiar with the records described and listed or scheduled on the attached sheets; that, as to listed records, all such records pertain to the business of said Company prior to _____________, the date of the last examination report of the Company officially filed with the Department of Insurance of the State of Illinois; that, as to scheduled records containing any information necessary to the determination of the financial condition of the Company, records so scheduled regardless of any proposed time for destruction in such schedule will not, in any case, be destroyed until after the next examination report of the Company is officially filed with the Department of Insurance of the State of Illinois; that listed records do not contain any information necessary for the final settlement or disposition of any claim arising out of any policy of insurance issued by the Company; that, as to scheduled records, notwithstanding any period of time specified for the occurrence of any specified event, no such records will be destroyed if they contain information necessary for the final settlement or disposition of any claim; that there is no actual notice or knowledge that the Statute of Limitations has not run against all matters to which listed records may pertain and that no scheduled records will be destroyed if prior to the time scheduled for destruction the Company receives notice that the Statute of Limitations has not run against matters to which the records may pertain; that no listed records are required to be retained in order to determine the financial condition of the Company or to verify the condition of the Company as stated in any annual statement filed subsequent to the date of the last examination report officially filed by the Department of Insurance; that other records exist as to any item which may become material in the future for the determination of the financial condition of the Company.

This Affidavit is signed for the purpose of obtaining the approval of the Director of Insurance for the destruction of records, to save unnecessary expense of unwarranted preservation, and for no other purpose.

The destruction of records described as listed or scheduled in the foregoing Affidavit is hereby