Ill. Admin. Code tit. 92, § 1425.120 – Minimum Requirements for Self-Insurers | Midpage
§ 1425.120
Ill. Admin. Code tit. 92, § 1425.120
Minimum Requirements for Self-Insurers
AUTHORITY: Implementing Sections 18c-1901 through 18c-1905 and authorized by Section 18c-1202(9) of The Illinois Commercial Transportation Law [625 ILCS 5/18c-1101, 18c-1202(9) and 5/18c-1901 through 1905].ILLINOIS COMMERCE COMMISSION
a) Net worth of:
1) $500,000, if the carrier operates less than 25 vehicles;
2) $750,000, if the carrier operates from 25 to 100 vehicles; and
3) $1,000,000, if the carrier operates more than 100 vehicles.
b) Property with a value of $500,000 or more located within the State of Illinois, free from all liens.
The minimum requirements for a carrier to qualify and continue to act as a self-insurer are: