Ill. Admin. Code tit. 50, § 941.20 - Misrepresentation

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

If the company opts not to obtain readily available information about the named insureds and drivers listed on the application to underwrite the risk prior to issuing the policy, the company shall not defeat, avoid or rescind the policy of insurance based on obtaining the readily available information after a loss has occurred or a claim is filed. "Readily available information" is defined to be limited to the information that appears on the motor vehicle record (MVR) maintained by the Illinois Secretary of State and LexisNexis Comprehensive Loss Underwriting Exchange (C.L.U.E.) Auto Reports, or any of their corresponding subsequent equivalents.

Notes

Ill. Admin. Code tit. 50, § 941.20
Adopted at 41 Ill. Reg.4496, effective 4/14/2017.

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