Prejudgment Interest on Personal Injury Claims Becomes Law in Illinois | Holland & Knight LLP
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 rate of 9 percent per year after a court issued a judgment award. This Holland & Knight alert summari...
Source: jdsupra.com