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Are claims against an insolvent workers compensation self-insurance pool covered by the Illinois Insurance Guaranty Fund?

April 26, 2017compensation Covered Guaranty Illinois insolvent Insurance pool self-insurance Workers

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Are claims against an insolvent workers compensation self-insurance pool covered by the Illinois Insurance Guaranty Fund?

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No. The Illinois Insurance Guaranty Fund does not cover these self-insured entities. However, the Illinois Insurance Code established the Group Workers’ Compensation Pool Insolvency Fund. The Insolvency Fund can be activated whenever the Director of Insurance shall determine that compensation or medical services provided by the Act may be unpaid by reason of default of an insolvent pool. If you are interested in pursuing a claim against the fund you should contact the Department of Insurance at (217) 782-2867.