DOI Bruce Rauner Governor Anne Melissa Dowling, Acting Director

Life, Health, Property and Casualty

MINIMUM CAPITAL/SURPLUS

Capital Paid-Up $1,000,000
Surplus Over Liabilities $1,000,000*
Policyholders Surplus $2,000,000
*(Note: Minimum surplus to be maintained, $500,000)

DEPOSIT

Deposit in Home State $1,500,000*
Deposit in Illinois $     none
*(Note: For the benefit of all policyholders)

ADMISSION FEES

Filing all documents for admission $5,000
Certificate of Authority $   400

ANNUAL RENEWAL FEES

Filing Annual Statement (Alien Foreign) $ 0
Filing Annual Statement (Domestic) $ 200
Renewal Certificate of Authority (Alien Foreign) $ 400

OTHER FEES

The fee for filing Amended By-Laws is $50.00.
The fee for filing Amended Articles of Incorporation is $200.00.
The fee for filing Amended Certificate of Authority is $50.00.

PREMIUM TAXES

As set forth by newly reenacted Section 409 of the Illinois Insurance Code (215 ILCS 5/409, effective May 29, 1998), as of July 1, 1998 there is a premium tax of 0.4% on the net taxable premium for all accident and health written, and retroactively, as of January 1, 1998, there is a premium tax of 0.5% on the net taxable premiums written for all other types of insurance premiums written. The premium tax payment due from a company may be reduced by the excess amount, if any, by which the aggregate income taxes paid by the company, on a cash basis, for the preceding calendar year under subsections (a) through (d) of Section 201 of the Illinois Income Tax Act (35 ILCS 5/201(a) - (d)) exceed 1.5% of the company's net taxable premium written for that prior calendar year; and the amount of any fire department taxes paid by the company during the preceding calendar year under Section 11-10-1 of the Illinois Municipal Code (65 ILCS 5/11-10-10).

FINANCIAL REGULATION FEE

The fee shall be a fixed amount based upon Illinois direct premium income and nationwide reinsurance assumed premium income in accordance with the following schedule:

  1. $150, if the premium is less than $500,000 and there is no reinsurance assumed premium;

  2. $750, if the premium is $500,000 or more, but less than $5,000,000 and there is no reinsurance assumed premium; or if the premium is less than $5,000,000 and the reinsurance assumed premium is less than $10,000,000;

  3. $3,750, if the premium is less than $5,000,000 and the reinsurance assumed premium is $10,000,000 or more;

  4. $7,500, if the premium is $5,000,000 or more, but less than $10,000,000;

  5. $18,000, if the premium is $10,000,000 or more, but less than $25,000,000;

  6. $22,500, if the premium is $25,000,000 or more, but less than $50,000,000;

  7. $30,000, if the premium is $50,000,000 or more, but less than $100,000,000;

  8. $37,500, if the premium is $100,000,000 or more.

The sum of financial regulation fees under this subsection (7) of Section 408 of the Illinois Insurance Code (215 ILCS 5/408) charged to the foreign or alien companies within the same affiliated group shall not exceed $250,000 in the aggregate in any single year and shall be billed by the Director to the member company designated by the group.

FIRE MARSHAL'S TAX

1% of the gross fire, sprinkler leakage, riot and civil commotion explosion and motor vehicle fire risk premium receipts.