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(215 ILCS 5/155)
(from Ch. 73, par. 767)
(1) In any 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, the court may allow as part of the
taxable costs in the action reasonable attorney fees, other costs, plus
an amount not to exceed any one of the following amounts:
(a) 60% of the amount which the court or jury finds
such party is entitled to recover against the company, exclusive of all costs;
(c) the excess of the amount which the court or jury
finds such party is entitled to recover, exclusive of costs, over the amount, if any, which the company offered to pay in settlement of the claim prior to the action.
(2) Where there are several policies insuring the same insured
against the same loss whether issued by the same or by different
companies, the court may fix the amount of the allowance so that the
total attorney fees on account of one loss shall not be increased by
reason of the fact that the insured brings separate suits on such policies.
(Source: P.A. 93-485, eff. 1-1-04.)