P&S Submits Brief to Illinois Supreme Court on Behalf of Independent Insurance Agents of Illinois
Richard Waris, Matthew Egan, and Brendan Nelligan recently filed an amicus brief with the Illinois Supreme Court on behalf of the Independent Insurance Agents of Illinois relating to a case of statewide importance to insurance producers. The Supreme Court’s ruling could have a major impact on two statutes that were drafted by the IIA with the help of Richard Waris and Matthew Egan. Passed by the Illinois General Assembly in 1996, these statutes limit the duties that Illinois insurance producers owe to their customers (the Illinois Insurance Placement Liability Act) and set forth the time limit by which lawsuits may be initiated against insurance producers (the Statute of Limitations for Claims Against Insurance Producers). In 2017, the Appellate Court in the case of Krop v. Varga issued a ruling which disregarded those statutes. The appeal to the Illinois Supreme Court will decide whether an insurance producer can be sued more than two years after he procured a policy for a customer (who was provided a copy of that policy) and whether a producer owes a fiduciary duty to his/her customer. A copy of the amicus brief can be found here.