Ill. Admin. Code tit. 50, § 928.43 - Supplement A to Schedule T Reconciliation

Current through Register Vol. 46, No. 15, April 8, 2022

a) To ensure completeness of the data reported by insurers, medical professional liability losses and claim counts shall be reconciled for claims using NAIC Annual Statement Exhibit of Supplement A to Schedule T as seen in Exhibit E of this Part. Specifically, the claims numbers reported under this Section shall correspond to the claims numbers reported in Column "Number of Claims Direct Losses Paid". Also, loss amounts filed under this Section shall correspond to the amounts reported under "Amount Direct Losses Paid". The amounts listed on the reconciliation are the sum of all the Supplement A to Schedule T Exhibits for the State of Illinois.
b) If there are discrepancies in claim counts and/or losses for a particular year, the insurer must provide an explanation of discrepancies to the Department and make any necessary amendments to the effected claims.

Notes

Ill. Admin. Code tit. 50, § 928.43

Added at 36 Ill. Reg. 18677, effective December 17, 2012

Amended at 40 Ill. Reg. 16137, effective 11/30/2016

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