(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 |
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(2) The loss severity inherent in the occupational
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| framework of group members.
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(3) The occupational disease potential inherent in
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| the occupational framework of group members.
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(4) The occupational tasks of member employees.
(5) Any other relevant fact the group members present
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| to the Director that has reference to the classification of similar risks (e.g. SIC codes).
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(c) Eligibility as a pool participant shall be based upon having a minimum
of:
(1) 20 employees and $250,000 gross annual payroll; or
(2) 10 employees and $125,000 gross annual payroll
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| for participants who have engaged actively in business for a minimum of 3 years; or
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(3) 5 employees and $62,500 gross annual payroll for
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| participants who have actively engaged in business for a minimum of 5 years.
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(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
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| business for a minimum period of 5 consecutive years in Illinois; and
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(2) the participant agrees to make all of its
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| financial records available to the Director for reasonable inspection during the period of membership; and
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(3) the pool administrator certifies to the Director
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| 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.
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(Source: P.A. 91-757, eff. 1-1-01.)
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