Exams / Illinois Property Insurance Producer License / 215 ILCS 5/143.16a
215 ILCS 5/143.16a — what it says, and how the exam tests it
This section is cited by 2 of our practice questions and is tested on 3 exams including the Illinois Property Insurance Producer License.
The text
215 ILCS 5/143.16a. (from Ch. 73, par. 755.16a) Sec. 143.16a. Cancellation of Casualty policies. No policy to which Section 143.11 applies, except for those defined in subsection (a) or (b) of Section 143.13, that has been in effect for 60 days may be cancelled except for one of the following reasons: (a) Nonpayment of premium; (b) The policy was obtained through a material misrepresentation; (c) Any insured violated any of the terms and conditions of the policy; (d) The risk originally accepted has measurably increased; (e) Certification to the Director of the loss of reinsurance by the insurer which provided coverage to the insurer for all or a substantial part of the underlying risk insured; or (f) A determination by the Director that the continuation of the policy could place the insurer in violation of the insurance laws of this State. (Source: P.A. 84-1005.)
Public record. Read the full, current section at the official source: www.ilga.gov
How it comes up on the exam
Practice questions written from this section — answers and explanations are in the drill.
- A casualty insurer wants to cancel a non-automobile policy that has been in effect for 60 days. Under 215 ILCS 5/143.16a, which of the following is a valid ground for cancellation?
drill Illinois Statutes and Regulations Pertinent to Casualty Insurance Only → - Which of the following is a permitted reason for cancelling a casualty policy that has been in effect for 60 days under Section 143.16a?
drill Illinois Statutes and Regulations Common to Property and Casualty Insurance →