Illinois law allows victims who are injured in accidents caused by the negligence or recklessness of another party to file legal action against that party for financial compensation for the losses those injuries cause. These losses can include medical expenses to treat the injuries, loss of income if the victim is unable to work while they recover, pain and suffering, and more.
Many accident claims are handled through the at-fault party’s insurance company, such as in car accidents, premises liability accidents, and medical malpractice lawsuits. Unfortunately, the majority of insurance companies will do all they can to get a victim to settle for far less than what they deserve, including dragging the entire process out for an extended period of time. But a new Illinois law could end up penalizing insurance companies who engage in these types of practices.
Pretrial Interest Legislation
Insurance companies are for-profit businesses and any time they are forced to pay funds to a victim, it cuts into those profits. Prior to the new law’s passage, there was no legal incentive for the at-fault party or an insurance company to settle a case before it went to trial. Insurance companies are well known for engaging in tactics that pressure victims to settle for less than what their losses are, or they attempt to find ways to deny a victim’s claim completely.
...