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| | 101ST GENERAL ASSEMBLY
State of Illinois
2019 and 2020
SB1812 Introduced 2/15/2019, by Sen. John G. Mulroe SYNOPSIS AS INTRODUCED:
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| 215 ILCS 5/155 | from Ch. 73, par. 767 |
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Amends the Insurance Code. Provides that a court shall consider a delay in a company's settling of an insurance-related claim that exceeds 120 days prima facie evidence that such delay is vexatious and unreasonable.
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| | A BILL FOR |
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| | SB1812 | | LRB101 10934 RAB 56099 b |
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| 1 | | AN ACT concerning regulation.
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| 2 | | Be it enacted by the People of the State of Illinois,
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| 3 | | represented in the General Assembly:
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| 4 | | Section 5. The Illinois Insurance Code is amended by |
| 5 | | changing Section 155 as follows:
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| 6 | | (215 ILCS 5/155) (from Ch. 73, par. 767)
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| 7 | | Sec. 155. Attorney fees.
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| 8 | | (1) In any action by or against a company wherein
there is |
| 9 | | in issue the liability of a company on a policy or policies of
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| 10 | | insurance or the amount of the loss payable thereunder, or for |
| 11 | | an unreasonable
delay in settling a claim, and it appears to |
| 12 | | the court that such action
or delay is vexatious and |
| 13 | | unreasonable, the court may allow as part of the
taxable costs |
| 14 | | in the action reasonable attorney fees, other costs, plus
an |
| 15 | | amount not to exceed any one of the following amounts:
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| 16 | | (a) 60% of the amount which the court or jury finds |
| 17 | | such party
is entitled to recover against the company, |
| 18 | | exclusive of all costs;
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| 19 | | (b) $60,000;
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| 20 | | (c) the excess of the amount which the court or jury |
| 21 | | finds such party is
entitled to recover, exclusive of |
| 22 | | costs, over the amount, if any, which
the company offered |
| 23 | | to pay in settlement of the claim prior to the action.
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