Section 4203.220  Definitions

Code means the Illinois Insurance Code [215 ILCS 5].

Consulting Actuary means independent or company actuary, appointed or retained by the company, to develop the company's rates, as required by Section 155.18 of the Code [215 ILCS 5/155.18] and to create supporting actuarial report and data, as required by Section 1204(C-5) of the Code [215 ILCS 5/1204(C-5)].

Department means the Illinois Department of Financial and Professional Regulation.

Director means the Director of the Illinois Department of Financial and Professional Regulation-Division of Insurance.

Division means the Department of Financial and Professional Regulation-Division of Insurance.

Insurance Claim means a formal or written demand for compensation under a medical liability insurance policy relating to allegations of liability on the part of one or more providers for any act, error or omission in the rendering of, or failure to render, medical services for medically related injuries. Insurance claim includes any instance for which benefits or compensation are payable, or eligible to be paid under any coverage under the policy.

Secretary means the Secretary of the Illinois Department of Financial and Professional Regulation. 

(Source:  Added at 31 Ill. Reg. 2287, effective January 22, 2007)