(215 ILCS 5/357.9a) (from Ch. 73, par. 969.9a)
Sec. 357.9a.
Delay in payment of claims.
Periodic payments
of accrued indemnities for loss-of-time coverage under accident
and health policies shall commence not later than 30 days after
the receipt by the company of the required written proofs of loss.
An insurer which violates this Section if liable under said policy, shall
pay to the insured, in addition to any other penalty provided for in this Code,
interest at the rate of 9% per annum from the 30th day after
receipt of such proofs of loss to the date of late payment of the
accrued indemnities, provided that interest amounting to less than
one dollar need not be paid.
(Source: P.A. 92-139, eff. 7-24-01.)
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