Senate Sponsors: MADIGAN,R-PHILIP AND CRONIN. House Sponsors: OSMOND-BRADY-MAUTINO-PARKE-BEAUBIEN Short description: WORKERS COMP SELF INSURE POOL Synopsis of Bill as introduced: Amends the Illinois Insurance Code. Provides for the regulation of workers' compensation pools by the Department of Insurance. Sets forth requirements for pooling agreements and requirements for issuance of certificates of authority for pooling agreements. Establishes bond requirements. Creates the Worker's Compensation Pool Insolvency Fund as a successor fund to the Group Self-Insurers' Insolvency Fund. Provides for assessments of members of workers' compensation self-insurance pools when a pool is insolvent. Effective January 1, 2001. SENATE AMENDMENT NO. 1. Provides that certificates of authority issued to group self-insurers under prior law shall continue in effect and be subject to the Group Workers' Compensation Pools Article of the Illinois Insurance Code. SENATE AMENDMENT NO. 2. Provides that units of local government, school districts, and intergovernmental risk management associations, self-insurance pools, or self-administered health and accident cooperative pools shall not be deemed "employers" or "pools" for purposes of the Workers' Compensation Pool Law. Removes requirement that pooling agreements contain a disclosure of fees to be charged by pool administrators. Provides that only qualified group workers' compensation pools are subject to the assessment provisions of the Workers' Compensation Pool Law. SENATE AMENDMENT NO. 3. Provides that when pooling agreements require written notice for withdrawal from a pool, the notice period may not be greater than 90 days. HOUSE AMENDMENT NO. 1. Adds reference to: 820 ILCS 305/10.1 new Amends the Workers' Compensation Act. Permits parties to enter into a compromise lump sum settlement in either permanent total or permanent partial disability cases which prorates the lump sum settlement over the life expectancy of the injured worker. Provides that in those cases: (i) neither the weekly compensation rate paid throughout the case nor the maximum statutory weekly rate applicable to the injury applies; (ii) no compensation rate shall exceed the maximum statutory weekly rate as of the date of the injury; and (iii) the prorated rate set forth in the approved settlement documents becomes the rate for that case. The new provisions are retroactive in effect. HOUSE AMENDMENT NO. 2. Deletes provision giving retroactive effect to authorization for compromise lump sum settlements of disability cases under the Workers' Compensation Act. Last action on Bill: PUBLIC ACT.............................. 91-0757 Last action date: 00-06-02 Location: Senate Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 2 SENATE - 3 END OF INQUIRY Full Text Bill Status