Stephen Pate, of Cozen O'Connor's Global Insurance department, was quoted in Law360 discussing a split Illinois Supreme Court recently held that the two-year statute of limitations for negligence claims against insurance agents. Stephen said that while the decision “may seem like a harsh result” for policyholders, a contrary ruling favoring the Krops’ position would have been unworkable. If the Illinois Supreme Court had decided that the two-year limitations period begins to run on the date a policyholder’s claim for coverage is denied, an agent would be left vulnerable to negligence suits for years after a disputed policy was issued, he said. “A rule that accrual occurs on the date of the coverage denial would open things up ad infinitum if there were multiple renewals of the policy,” Pate said.

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