New Act Encourages Early Settlement in Accident Cases

Attorney Phil Lee learned to fight as a young Army officer with the 101st Airborne Division, where he was awarded a Purple Heart, a Bronze Star, and many other commendations while serving in Afghanistan. The Frankfort native is now a leader in the courtroom, where he continues to fight for others.

“On the battlefield, we learned to use every tactical advantage, and Illinois’ new law on pre-suit interest gives accident victims a new way to press for the compensation they deserve,” explained Lee. “Insurance companies used to drag out cases as a legal strategy, but now that strategy has come to an end.”

In 2021, a new law went into effect awarding accident victims pre-judgment interest at a rate of 6% per annum from the date of filing. This new law changes the legal landscape and encourages both sides to settle. The at-fault party can avoid paying interest by making a written settlement within the first 12 months of the suit, so both sides have an interest in being reasonable. “There is no longer an advantage to delay, which is the goal of the new law,” explained Lee.

Before the new law went into effect, there was a huge advantage for an insurance company to delay the case, but the battlefield has now been leveled. It also makes the injured party think long and hard about rejecting a reasonable settlement. As Lee explained, “When both parties have something to lose, cases get resolved much earlier. This is an especially good result for the injured party who is struggling to pay medical bills and expenses associated with the accident.”

For more information about how attorney Phil Lee fights for his clients, or to schedule a free consultation, please contact:

Lee & Andreano, PC

58 N. Chicago St.

Joliet, IL 60432

Ph: 815-242-2000

FIGHTWITHPHIL.COM