Prejudgment Interest Act News Today

As a Mayor and congressional candidate focused on improving the economy and creating jobs, I’ve been shocked to see how state legislative leaders have been callously disregarding the current economic crisis and continuing to pass legislation that harms our job creators in Illinois.

If you think times are tough at the gas pump or grocery store right now, you’re in for a shock when you read the latest Citizens Against Lawsuit Abuse (CALA) Economic Impact Report for Illinois. According to the most recent data, Illin...

Right now, doing business in Illinois is hard. And not just because of COVID-19. At a time when most legislatures are helping their state’s businesses survive the pandemic, Illinois lawmakers are actively working agains...

As a fourth generation Illinois business owner, I am not surprised to learn that Illinois is this year’s 5th worst Judicial Hellhole in the country. Up three spots from last year’s rankings, Cook, Madison and St. Clair ...

Madison, St. Clair and Cook Counties together ranked No. 5 in the American Tort Reform Association’s (ATRA) annual “Judicial Hellholes” report, up from last year’s No. 8 ranking.

Highlights Illinois Senate Bill 72 (Prejudgment Interest Act) has been signed into law by Gov. JB Pritzker, providing for prejudgment interest on all damages rendered in personal injury and wrongful death claims at the rate of 6 percent per year. Previously, Illinois law did not recognize the award of prejudgment interest in tort actions for personal injury or wrongful death. Instead, Illinois judgment interest statute merely imposed post-judgment interest in tort actions that accrued at the ra...