d) The MSP shall file evidence of insurance in one of the following ways:

1. 1) File a certificate of insurance as evidence that the commercial general liability policy was renewed for at least one year and the liability coverage will continue. If the insurance company's rating or financial size is downgraded below the minimum required rating or financial size under Section 460.100(b)(1)(B), within 30 days after such downgrade, the MSP shall obtain new insurance coverage provided by an insurance company meeting or exceeding the required minimum rating and financial size. A copy of the certificate of insurance for the new policy must be filed within that period with the Chief Clerk of the Commission and the Manager of the Commission's Financial Analysis Division or its successor; or

2. 2) MSPs that qualify to self-insure for the liability obligations shall file a copy of the Self-Insurance Certificate of Approval under Section 4 of the Workers' Compensation Act [820 ILCS 305]. If the MSP fails to maintain authorization from the Illinois Industrial Commission to provide self-insurance, the MSP must obtain insurance coverage as provided in Section 460.100(b)(1) within 120 days from the date that its authority to self-insure is revoked by Illinois Industrial Commission Order. The MSP must notify the Commission of the Order revoking its authority to self-insure within 30 days. Within 120 days, the MSP must file a certificate of insurance with the Chief Clerk of the Commission and the Manager of the Commission's Financial Analysis Division or its successor as evidence that a Commercial General Liability policy has been issued and is valid for a period of not less than one year. MSPs that qualify to self-insure but are required to provide an unconditional guarantee, surety bond, letter of credit, or establish an escrow account shall file:

   1. A) A copy of the latest ratings report presenting the commercial paper or long-term credit or obligation ratings of the guarantors or financial institutions that issued the letter of credit, as applicable, between December 1 and December 31 of each year and within 15 days following any downgrade of such ratings previously filed with the Commission. Within 30 days after a downgrade of the commercial paper or long-term credit ratings of the guarantors or financial institutions that issued the letter of credit to a level below the minimum rating required under this Subpart, the MSP shall submit a report that:

      1. i) identifies the subsection of this Part under which the MSP is seeking to demonstrate that its financial resources remain sufficient for providing the services for which it has received a certificate of service authority; and
      2. ii) includes the information and documents that subsection requires;
   2. B) If the surety company that issued the surety or license or permit bond is disqualified as a qualifying surety, the MSP shall have 30 days from the date that the company is disqualified to obtain a new surety or license or permit bond from a qualifying surety;
   3. C) Copies of any modified, replacement, or additional unconditional guarantees, letters of credit, surety bonds, or escrow accounts, as applicable, at least 15 days in advance of any modification, cancellation, or expiration of the financial agreements; and
   4. D) A statement presenting the type and balance of securities deposited in the escrow account, as applicable.