IL SB1812

Amends Section 155 of the Illinois Insurance Code regarding attorney fees in insurance disputes.

Establishes that a delay exceeding 120 days in an insurance company's settlement of a claim constitutes prima facie evidence that the delay is vexatious and unreasonable.

Allows courts to award attorney fees, costs, and damages up to the greatest of: 60% of the recovery amount, $60,000, or the excess of recovery over any prior settlement offer by the company.

Applies to actions involving disputes over insurance policy liability, loss amounts, or unreasonable claim settlement delays.

Permits courts to limit total attorney fees when multiple policies from different companies insure the same loss to prevent increased fees from separate suits.