Illinois Compiled Statutes 215 Insurance: Article V 3/4 - Group Workers' Compensation; Pools; Pooling; Insolvency Fund

• Illinois Insurance Code. - 215 ILCS 5, Section 107a.01
  Short title. This Article may be cited as the Workers' Compensation Pool Law. (Source: P.A. 91-757, eff. 1-1-01.)
• Illinois Insurance Code. - 215 ILCS 5, Section 107a.02
  Scope. This Article applies to all qualified group workers' compensation pools. (Source: P.A. 91-757, eff. 1-1-01.)
• Illinois Insurance Code. - 215 ILCS 5, Section 107a.03
  Purpose. The purpose of this Article is to permit 2 or more employers with homogeneous risk characteristics or that are members of a bona...
• Illinois Insurance Code. - 215 ILCS 5, Section 107a.04
  Organization under the Illinois Insurance Code. (a) After December 31, 2000, group workers' compensation pools shall for the purpose of this Article, and this...
• Illinois Insurance Code. - 215 ILCS 5, Section 107a.05
  Definitions and interchangeable terms. (a) Unless otherwise provided, the following definitions shall apply: "Authorized insurer" means an insurer licensed in this State to transact...
• Illinois Insurance Code. - 215 ILCS 5, Section 107a.06
  Pool administration. (a) An application for Certificate of Authority to establish a pool must include the documentation and information regarding its administrator, pooling agreement,...
• Illinois Insurance Code. - 215 ILCS 5, Section 107a.07
  Standards for issuing and maintaining pool certificates of authority. (a) The Department shall consider the following in evaluating the financial strength of the pool: (1)...
• Illinois Insurance Code. - 215 ILCS 5, Section 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...
• Illinois Insurance Code. - 215 ILCS 5, Section 107a.09
  Service companies for group workers' compensation pools. (a) No association, corporation, partnership, sole proprietorship, trust, or other business entity shall provide services in the...
• Illinois Insurance Code. - 215 ILCS 5, Section 107a.10
  Bond requirements. (a) An administrator shall obtain and maintain in force fidelity bonds on employees, officers, or positions in an amount not less than...
• Illinois Insurance Code. - 215 ILCS 5, Section 107a.11
  Admissible assets. (a) Admitted assets include amounts permitted under Section 107a.12 as modified by only the following: (1) Direct obligations of the United States...
• Illinois Insurance Code. - 215 ILCS 5, Section 107a.12
  Annual statement. (a) A pool authorized to do business in this State shall file with the Director by March 1st in each year 2...
• Illinois Insurance Code. - 215 ILCS 5, Section 107a.13
  Group Workers' Compensation Pool Insolvency Fund. (a) All qualified group workers' compensation pools shall pay a sum equal to 0.5% of all compensation and...
• Illinois Insurance Code. - 215 ILCS 5, Section 107a.14
  Group workers' compensation pools assessment provisions. (a) When the Director determines by means of audit, annual certified statement, actuarial opinion, or otherwise that the...
• Illinois Insurance Code. - 215 ILCS 5, Section 107a.15
  Authority of Director. (a) If the Director determines that a group workers' compensation pool is not in compliance with this Article, the Director shall...

Last modified: February 18, 2015