Illinois Administrative Code
Title 50 - INSURANCE
Part 2909 - WORKERS' COMPENSATION LARGE DEDUCTIBLE BUSINESS
Section 2909.50 - Large Deductible Amount

Each nonexempt insurer writing workers' compensation policies that are subject to a large deductible agreement that covers employees located in this State must require the policyholder to provide an audited financial statement during the underwriting process. The per occurrence deductible amount under the large deductible agreement cannot exceed 20% of the policyholder's net worth as determined by the audited financial statement. The aggregate limit of the policyholder under the large deductible agreement cannot exceed the net worth of the policyholder as determined by the audited financial statement. A new audited financial statement is required for each successive policy year and shall apply to determine the per occurrence cap and aggregate limits of the renewal policy.