Section 1250.15 Definitions

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Illinois Administrative Code › Title 50 INSURANCE › CHAPTER I: DEPARTMENT OF INSURANCE › Part 1250 CORRECTIVE ORDERS › Section 1250.15 Definitions

This text was captured on Aug 14, 2026. It is a snapshot, not a live feed, so check the official code before relying on it.

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Section 1250.15 Definitions

Actuarial Standards of Practice means the actuarial

standards used in keeping with current professional practice by the Actuarial

Standards Board (1100 Seventeenth Street, NW, Seventh Floor, Washington DC

20036) that are to be utilized by actuaries in performance of their

assignments.

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

Department means the Illinois

Department of Insurance.

Director means the Director of the Illinois Department

of Insurance.

Insurer means any person or company subject to the Code.

NAIC means the National Association of Insurance

Commissioners.

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