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Glossary Check: Ill. ‘Private Self Insurer,’ ‘Insolvent Self Insurer’

29 Jun, 2024 Frank Ferreri

                               

Springfield, IL (WorkersCompensation.com) -- What do "private self insurer" and "insolvent self insurer" mean in Illinois? Here's how the Land of Lincoln defines those terms:

Private self-insurer. A private employer that has been authorized to self-insure its payment of workers' compensation benefits or to self-insure its payment of occupational disease benefits but does not include group self-insured employers or the State of Illinois, any political subdivision of the state, unit of local government or school district, or any other public authorities or quasi-governmental bodies including any subunits of the foregoing entities.

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Insolvent self-insurer. A private self-insurer financially unable to pay compensation, which

(1) Has filed either prior to or after the effective date of this Section or

(2) Is the subject party in any proceeding under the Federal Bankruptcy Reform Act of 1978 or

(3) Is the subject party in any proceeding in which a receiver, custodian, liquidator, rehabilitator, sequestrator, trustee or similar officer has been appointed by any court to act in lieu of or on behalf of that self-insurer.

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    About The Author

    • Frank Ferreri

      Frank Ferreri, M.A., J.D. covers workers' compensation legal issues. He has published books, articles, and other material on multiple areas of employment, insurance, and disability law. Frank received his master's degree from the University of South Florida and juris doctor from the University of Florida Levin College of Law. Frank encourages everyone to consider helping out the Kind Souls Foundation and Kids' Chance of America.

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