Large-Deductible Requirements Might Soon Take Effect

Illinois may soon begin requiring collateral for large-deductible workers’ compensation insurance policies, pending committee approval of a proposed rule this month. The large-deductible rule is on the agenda for a meeting of the Joint Committee on Administrative Rules on Dec. 13 in Chicago. If the committee places the rule on a “no objection” list, it will become effective by the end of December or in early 2017, according to a spokesman with the Illinois Department of Insurance. The proposed rule would implement Senate Bill 1805, which Gov. Bruce Rauner signed into la...