|Public Act 096-0965
||LRB096 18341 RPM 33718 b
AN ACT concerning insurance.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
The Illinois Insurance Code is amended by
changing Section 107a.07 as follows:
(215 ILCS 5/107a.07)
Standards for issuing and maintaining pool
(a) The Department shall consider
the following in
evaluating the financial strength of the pool:
(1) The number of employees covered by the pool.
(2) The particular industries in which the
participants are engaged.
(3) The combined net worth of pool participants.
(4) Any excess insurance purchased from authorized
(5) The gross annual payroll of members, which must be
for active pools not in runoff
(b) The pool administrator must either contract with a
company or have
sufficient resources, such as
those set forth in item (3) of subsection (b) of
administer the proposed pool.
(c) The Department must determine whether the pool can