(215 ILCS 5/107a.08)
Sec. 107a.08. Provisions applicable to members of a group workers' compensation pool.
(a) All members of a group workers' compensation pool must have homogeneous risk characteristics as provided in Section 107a.03.
(b) In determining whether members exhibit homogeneous risk characteristics, the Director shall consider any or all of the following characteristics:
(1) The loss frequency inherent in the occupational
framework of group members.
(2) The loss severity inherent in the occupational
framework of group members.
(3) The occupational disease potential inherent in
the occupational framework of group members.
(4) The occupational tasks of member employees.
(5) Any other relevant fact the group members present
to the Director that has reference to the classification of similar risks (e.g. SIC codes).
(c) Eligibility as a pool participant shall be based upon having a minimum of:
(l) 20 employees and $250,000 gross annual payroll; or
(2) 10 employees and $125,000 gross annual payroll
for participants who have engaged actively in business for a minimum of 3 years; or
(3) 5 employees and $62,500 gross annual payroll for
participants who have actively engaged in business for a minimum of 5 years.
(d) Exceptions to the minimum eligibility requirements of this Section may be allowed by any pool whenever the following conditions are met:
(1) the participant has been actively engaged in
business for a minimum period of 5 consecutive years in Illinois; and
(2) the participant agrees to make all of its
financial records available to the Director for reasonable inspection during the period of membership; and
(3) the pool administrator certifies to the Director
that he examined the financial records of the pool participant prior to the participant's admission to the pool and found the participant to be solvent and financially stable.
(Source: P.A. 91-757, eff. 1-1-01.)
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Last modified: February 18, 2015