AUTHORITY: Implementing Sections 429 and 500-70 [215 ILCS 5/429 and 500-70] and authorized by Sections 401 and 500-145 of the Illinois Insurance Code [215 ILCS 5/401 and 500-145].DEPARTMENT OF INSURANCE
a) Failure of an insurer to comply with the requirements of this Part shall subject the insurer to the applicable provisions of Section 403A of the Code; or
b) Failure of an insurance producer to comply with requirements of this Part shall be an unfair trade practice, and evidence of incompetence or untrustworthiness in the conduct of business under Section 500-70(a)(7) and (8) of the Code.