§1425.120. Minimum Requirements for Self-Insurers

Latest version.

The minimum requirements for a carrier to qualify and continue to act as a self-insurer are:

a)         Net worth of:

1)         $500,000, if the carrier operates less than 25 vehicles;

2)         $750,000, if the carrier operates from 25 to 100 vehicles; and

3)         $1,000,000, if the carrier operates more than 100 vehicles.

b)         Property with a value of $500,000 or more located within the State of Illinois, free from all liens.

                    
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