Illinois General Assembly - Bill Status for SB2109

Amends the Illinois Insurance Code. Provides that a company that commits an improper claim practice may be subject to civil penalties pursuant to the Code or a private cause of action, or both. Removes the $60,000 damage cap in an action by or against a company wherein there is in issue the liability of a company on a policy or policies of insurance or the amount of the loss payable thereunder, or for an unreasonable delay in settling a claim, and it appears to the court that such action or delay is vexatious and unreasonable. Amends the Criminal Code of 1961. Provides that an insurance company or self-insured entity that brings an action against a person for insurance fraud or fraud on a governmental entity in bad faith shall be liable to that person for 3 times (rather than twice) the value of the property claimed, plus reasonable attorneys fees.