Ill. Admin. Code tit. 50, § 2904.40 - Definitions

Current through Register Vol. 46, No. 15, April 8, 2022

As used in this Part, the following terms have the definitions set forth:

"Act" means the Workers' Compensation Act [820 ILCS 305 ] and Workers' Occupational Diseases Act [820 ILCS 310 ].

"Administrator " means a qualified entity who administers the managing of the Illinois Workers' Compensation Assigned Risk Plan in compliance with the Plan and appropriate statutes/regulation. At a miminum, a qualified entity holds a valid Illinois license that enables it to develop and file its Plan and associated rates, rating plans, rules, forms and manuals.

"Assigned Carrier" means the insurance company that the Administrator has determined shall provide coverage to an eligible employer who has applied for an assignment pursuant to this Part.

"Plan" means the Illinois Workers' Compensation Assigned Risk Plan as filed by the Administrator and approved by the Director.

"Producer" means a person required to be licensed under Section 500 of the Illinois Insurance Code [215 ILCS 5 -500] to sell, solicit or negotiate insurance.

"Standard Coverage" means Workers' Compensation and Workers' Occupational Diseases insurance written on a basic rating plan, exclusive of deviated rating plans or retrospective rating plans.

"Termination" means the cessation of coverage by either cancellation of a policy which is in force or not renewing a policy at the end of the coverage period.

Notes

Ill. Admin. Code tit. 50, § 2904.40

Amended at 6 Ill. Reg. 7226, effective June 4, 1982

Amended at 38 Ill. Reg. 15611, effective 7/2/2014

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