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:
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.