Illinois bill would create state-sponsored insurance companyPosted On: Mar. 12, 2018 1:54 PM CST
An Illinois bill that would create a state-sponsored insurance company to provide workers compensation was placed on the calendar for a second reading last Thursday.
H.B. 4595, introduced by state Rep. Laura Fine, D-Glenview, would create the Illinois Employers Mutual Insurance Co. as a nonprofit that issues insurance for workers comp and occupational disease, according to the bill’s latest text.
The company would not be a state agency or receive taxpayer funding. It would be established with a $10 million loan from the Illinois Workers Compensation Commission Operations Fund.
The bill is similar to H.B. 2622, which was vetoed last year by Illinois Gov. Bruce Rauner.