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95TH GENERAL ASSEMBLY
State of Illinois
2007 and 2008
HB0229
Introduced 1/19/2007, by Rep. Mary E. Flowers SYNOPSIS AS INTRODUCED:
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215 ILCS 5/155 |
from Ch. 73, par. 767 |
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Amends the Illinois Insurance Code. Exempts any action against an insurance company where the company has committed fraud from certain limitations concerning damages that may be awarded.
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A BILL FOR
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HB0229 |
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LRB095 04584 KBJ 24639 b |
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| AN ACT concerning regulation.
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| Be it enacted by the People of the State of Illinois,
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| represented in the General Assembly:
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| Section 5. The Illinois Insurance Code is amended by |
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| changing Section 155 as follows:
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| (215 ILCS 5/155) (from Ch. 73, par. 767)
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| Sec. 155. Attorney fees.
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| (1) In any action by or against a company wherein
there is |
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| in issue the liability of a company on a policy or policies of
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| insurance or the amount of the loss payable thereunder, or for |
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| an unreasonable
delay in settling a claim, and it appears to |
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| the court that such action
or delay is vexatious and |
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| unreasonable, the court may allow as part of the
taxable costs |
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| in the action reasonable attorney fees, other costs, plus
an |
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| amount not to exceed any one of the following amounts:
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| (a) 60% of the amount which the court or jury finds |
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| such party
is entitled to recover against the company, |
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| exclusive of all costs;
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| (b) $60,000;
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| (c) the excess of the amount which the court or jury |
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| finds such party is
entitled to recover, exclusive of |
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| costs, over the amount, if any, which
the company offered |
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| to pay in settlement of the claim prior to the action.
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