Combined “Notice to Policyholder / Service of Suit” Stamp for Binders

When a surplus line filing is made based on a binder, the Department of Insurance requires that the “Notice to Policyholder” and service of suit wording be included on the binder.  the SLAI has developed a single stamp to help you satisfy these two requirements.  The stamp reads as follows:

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.

Service of process under this contract may be made upon the Director pursuant to paragraph 10 of Section 445 of the Code.