(215 ILCS 5/155.25a) (from Ch. 73, par. 767.25a)
Sec. 155.25a.
Notwithstanding the provisions of subsection (D) of
Section 123B-9, a purchasing group may purchase insurance providing for a
group aggregate limit from an insurer licensed to write medical liability
insurance in this State if (1) such group is domiciled in Illinois and all
or substantially all of such group's members are residents of Illinois, (2)
each insured in the purchasing group is specifically informed prior to
issuance of the policy to such insured of the existence of the group
aggregate limit, and (3) either (a) the amount of the group aggregate limit
is determined by the Director in his discretion to be sufficiently high
(when considered in conjunction with other factors such as each individual
insured's per claim limit and each individual insured's aggregate limit),
such that the risk that the group aggregate limit will be exhausted is not
substantial, or (b) (i) each individual insured's aggregate limit is not
more than 300% of such individual insured's per claim limit and (ii) the
group aggregate limit (at the time of the insured's claim) is equal to or
exceeds the amount set forth in the following table:
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