The Illinois Supreme Court overturned years of lower court precedent and established that “property damage” in the context of construction defect or faulty workmanship claims exists regardless of the scope of the project so long as there is a “physical injury to tangible property, including all resulting loss of use of that property.”
I believe you are correct, all you need to do is see this one sentence “the court explicitly rejected years of insurer-friendly lower court rulings” I interpret that to mean the lawyers will now have another avenue to pursue insurance companies and the insurance companies will raise rates to account for it. And at the end of the article “Perkins Coie’s Insurance Recovery practice comprises lawyers with years of experience resolving (and, if necessary, litigating) these types of claims and can assist affected parties in making a long-sought-after recovery of their defense expenses and any indemnity paid to the underlying… Read more »
A largely unasked question is becoming glaring: Is Illinois doing all it should to use artificial intelligence to make government cost less and work better? So far, the evidence says no.
IANAL and I don’t understand what any of this means but it sounds expensive for Illinois insurance buyers.
I believe you are correct, all you need to do is see this one sentence “the court explicitly rejected years of insurer-friendly lower court rulings” I interpret that to mean the lawyers will now have another avenue to pursue insurance companies and the insurance companies will raise rates to account for it. And at the end of the article “Perkins Coie’s Insurance Recovery practice comprises lawyers with years of experience resolving (and, if necessary, litigating) these types of claims and can assist affected parties in making a long-sought-after recovery of their defense expenses and any indemnity paid to the underlying… Read more »