Ill. Admin. Code tit. 56 § 6000.85

Current through Register Vol. 48, No. 49, December 6, 2024

Section 6000.85 - Requirements for Liability Insurance

The owner, operator, agent or manager shall have in force liability insurance in the amounts specified in Section 2-14 of the Act.

a) Liability Insurance

1) Proof of insurance shall be a copy of the policy or policies, including all endorsements, or a certificate of insurance issued by the insurer and filed with the Department's Amusement Ride and Attraction Safety Division.

2) The company or companies affording coverage shall have a current Best's Financial Strength Rating of "B+" or better and a current Best's Financial Size Category of class "V" or better.

3) Policies and certificates issued by companies not a part of the Illinois Insurance Guaranty Fund shall bear a surplus lines stamp.

b) Self-Insured Governmental Bodies

1) A governmental body that is self-insured shall submit a Statement of Self-Insurance at least as great as those required by Section 2-14 of the Act.

2) If the governmental body's self-insurance is not as great as required, then the body shall also submit documentation of its excess coverage, either through a conventional insurance company or an insurance pool. If the excess coverage is through a conventional insurance carrier, then the A.M. Best ratings as stated in this Section shall apply. If a pool is used, the pool shall be registered with the Department of Insurance, and shall submit a financial statement to the Department's Amusement Ride and Attraction Safety Division evidencing a surplus to liability ratio of at least 2.5 to 1.

Ill. Admin. Code tit. 56, § 6000.85

Amended at 34 Ill. Reg. 763, effective December 29, 2009

Amended at 38 Ill. Reg. 18668, effective 8/26/2014

Amended at 44 Ill. Reg. 19907, effective 12/8/2020