(225 ILCS 207/45)
Asbestos abatement contractor's certificate of financial
responsibility. Each asbestos abatement contractor that wishes to be placed on
the Department's approved list of asbestos abatement contractors shall submit
to the Department a certificate documenting that the contractor carries
liability insurance from a company with at least an "A" rating accorded by A.M.
Best & Co., self insurance, group insurance, or group self insurance in an
amount of at least $1,000,000 for work performed pursuant to this Act and the
rules promulgated under it. No asbestos abatement contractor may be
placed on the approved list in the absence of such a certificate.
All asbestos abatement contractors presently licensed by the Department in
accordance with the Asbestos Abatement Act for public and private schools in
Illinois who wish to be on the approved list shall submit the certificate
within 90 days of the effective date of this Act.
Each asbestos abatement contractor shall maintain on file with the Department
a current certificate of financial responsibility throughout the entire length
of time the contractor's name appears on the Department's list of approved
contractors. An asbestos abatement contractor shall notify the Department of
any change in the status of a certificate that has been filed including
expiration, renewal, or alteration of the terms of the certificate.
(Source: P.A. 89-143, eff. 7-14-95.)