Illinois Compiled Statutes 215 ILCS 5 Illinois Insurance Code. Section 512.52
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Illinois Laws
(215 ILCS 5/512.52) (from Ch. 73, par. 1065.59-52)
(Section scheduled to be repealed on January 1, 2017)
Sec. 512.52. Definitions. As used in this Article unless
the context clearly otherwise requires:
(a)
"Adjusting insurance claims" means representing an insured with an
insurer for compensation, and while representing that insured either negotiating
values, damages, or depreciation, or applying
the loss circumstances to insurance policy provisions.
(b) "Public Insurance Adjuster" means a person engaged in the business
of adjusting insurance claims who is licensed pursuant to this Article.
(c) "Registered Firm" means a person registered with the Director under
Section 512.57.
(d) "Compensation" shall include, but need not be limited to, the following:
1. any assignment of insurance proceeds or a
percentage thereof;
2. any agreement to make repairs for the amount of
the insurance proceeds payable;
3. assertion of any lien against insurance proceeds
payable.
(e) "Person" embraces both natural persons and business
entities of whatever type.
(Source: P.A. 95-213, eff. 1-1-08.)
Sections: 512.51 512.52 512.53 512.54 512.55 512.56 512.57 512.58 512.59 512.60 512.61 512.61a 512.62 512.63
Last modified: February 20, 2012
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