Bulletin #10: Notice to Policyholder
General Bulletin #10
NOTICE TO POLICYHOLDER
The Board of Directors, at their July
12, 1988 meeting, voted to discontinue providing the "Notice
to Policyholder" legend by the Surplus Line Association
office on those policies which do not already contain the
legend. This will become effective September 1, 1988.
This change was brought about by the
increasing volume of documents received by the Surplus Line
Association and other considerations.
Please note that the revised wording of
Regulation 2701 shows a slight change in the wording of the
NOTICE TO POLICYHOLDER: This
contract is issued pursuant to Section 445 of the Illinois Insurance Code, by a company
not authorized and licensed to transact business in Illinois and as such is not covered by
the Illinois Insurance Guaranty Fund.
As before the Notice is to be shown on
the first page of the policy in not less than 12 point Bold
Face type. Also, the Notice is to be shown on the Surplus
Line Association copy as well as the original policy.
The Surplus Line Association has a
supply of the "Notice to Policyholder" stamps and will
provide them to members requesting them.