Originally published by Christina Phillips.
As a policyholder lawyer, much of my practice over the past 10 years has been in Illinois and the Midwest. Accordingly, I would like to give an introduction into Illinois “bad faith.” I put that term in quotations because Illinois does not have a traditional “bad faith” law. Rather, Illinois law provides an extracontractual remedy to policyholders when an insurer’s action in handling a claim is vexatious and unreasonable. 215 ILCS 5/155 (West 2010). This extracontractual remedy, commonly referred to as “Section 155,” provides for the recovery of taxable costs, reasonable attorneys’ fees, other costs, plus an amount not to exceed one of the following:
60% of the amount which the court or jury finds such party is entitled to recover against the insurance company, exclusive of costs;
the excess of the amount which the court or jury finds such a party is entitled to recover, exclusive of costs, over the amount, if any,…
from Texas Bar Today http://ift.tt/29RvF4Q
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