IL SB1943

Amends Section 456 of the Illinois Insurance Code regarding the making of rates for workers' compensation and employers' liability insurance.

Requires that for employers correctly classified in the construction industry, insurance charges shall be based on hours worked by employees in specific job categories, not on wages or salaries paid.

Makes technical corrections to existing insurance rate provisions, including capitalization changes and punctuation adjustments.

Maintains existing requirements that rates be made with consideration for loss experience, expenses, profit margins, and that rates not be excessive, inadequate, or unfairly discriminatory.