Bill Text: IL SB1812 | 2019-2020 | 101st General Assembly | Introduced

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Bill Title: Amends the Illinois Insurance Code. Makes a technical change in a Section concerning the short title.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Failed) 2021-01-13 - Session Sine Die [SB1812 Detail]

Download: Illinois-2019-SB1812-Introduced.html

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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:
215 ILCS 5/155 from Ch. 73, par. 767
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.
LRB101 10934 RAB 56099 b
A BILL FOR
SB1812 LRB101 10934 RAB 56099 b
AN ACT concerning regulation.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Section 5. The Illinois Insurance Code is amended by
changing Section 155 as follows:
(215 ILCS 5/155) (from Ch. 73, par. 767)
Sec. 155. Attorney fees.
(1) In any action by or against a company wherein there is
in issue the liability of a company on a policy or policies of
insurance or the amount of the loss payable thereunder, or for
an unreasonable delay in settling a claim, and it appears to
the court that such action or delay is vexatious and
unreasonable, the court may allow as part of the taxable costs
in the action reasonable attorney fees, other costs, plus an
amount not to exceed any one of the following amounts:
(a) 60% of the amount which the court or jury finds
such party is entitled to recover against the company,
exclusive of all costs;
(b) $60,000;
(c) the excess of the amount which the court or jury
finds such party is entitled to recover, exclusive of
costs, over the amount, if any, which the company offered
to pay in settlement of the claim prior to the action.

SB1812 - 2 - LRB101 10934 RAB 56099 b
(2) Where there are several policies insuring the same
insured against the same loss whether issued by the same or by
different companies, the court may fix the amount of the
allowance so that the total attorney fees on account of one
loss shall not be increased by reason of the fact that the
insured brings separate suits on such policies.
(3) The court shall consider a delay in a company's
settling of a claim that exceeds 120 days prima facie evidence
that such delay is vexatious and unreasonable.
(Source: P.A. 93-485, eff. 1-1-04.)