Old Second National Bank v. Indiana Insurance Company

Court awarded judgment for bank, plus prejudgment interest against insurance company. As no evidence in record that bank breached or failed to comply with any terms of policy,as as insurer breched its policy by denying coverage, bank was entitled to judgment as a matter of law and court correctly entered summary judgment for bank. Court properly awarded interest to bank. Insurance policy is an "instrument of writing" within meaning of Interest Act, and as a result, interest may be recovered from insurer from time money becomes due under policy. When a plaintiff is entitled to both prejudgment and postjudgment interest on the same award, the beginning date for accrual of postjudgment interest marks ending date for accrual of prejudgment interest. (HALL and ROCHFORD, concurring.)