Insurance law — interest

Posted June 3, 2022 11:47 AM

Where an insured files a claim for loss and the insurer engages in an appraisal, if the loss is not easily ascertainable, interest on the payment does not begin to accrue until 30 days after the appraisal.The 2nd District Appellate Court affirmed the decision of DuPage County Circuit Judge Bonnie M. Wheaton.Galena at Wildspring Condominium Association (Galena) took out a property insurance policy from Greater New York Mutual Insurance Company (GNY) on 33 two-story condominium buildings. On July 21, 2017, a storm went over …

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