The Illinois Appellate Court for the First District, in Austin
Highlands Development Company v. Midwest Insurance Agency, Inc., 2020 Ill. App. (1st) 191125,
decided two issues important to insurance producers in Illinois.
- The two-year statute of limitations applies to
both agents and brokers. - The two-year statute of limitations begins to accrue
on the date the insurance policy is delivered to the policyholder.
Midwest Insurance Agency (“Midwest”) was the exclusive agent to procure insurance policies for Austin Highlands Development Company (“Austin”), who acted as agent for various entities that owned apartment complexes in the Chicagoland area. In that role, Midwest procured
Continue Reading The Two-Year Statute of Limitations for Actions Against Insurance Producers in Illinois Begins to Run on the Date the Policy Is Received by the Policyholder