Adams v. Illinois Insurance Guaranty Fund

The issue in this declaratory judgment action is whether the defendant Illinois Insurance Guaranty Fund (the Fund) must guarantee payment of claims against surplus line insurers. It need not.

Most insurance in this State is written by insurers authorized and licensed to do business here. Such companies are extensively supervised and regulated. The law recognizes, however, that some people want insurance that they are unable to obtain from these companies. Certain insurance brokers and agents are therefore licensed to procure policies from companies not authorized to do business in this State,…