Illinois Tool Works v. Commerce and Industry Insurance Company

Plaintiff company filed declaratory judgment action against two insurers for declaration of duty to defend company in underlying suit by tenant for groundwater and soil contamination. Plaintiff had been assigned benefits of insurance policies in purchase agreement; seller had agreed to indemnify Plaintiff for up to $25 million, and purchase price was $80 million, which indicates seller's intent to assign policy benefits to Plaintiff. Once a covered loss has occurred, insured's assignment of right to coverage or defense does not require consent from insurer, as assignment is essentially assignment of payment of claim already accrued. Assignment occurred after the loss; and loss was not underlying suit, but contamination. (CUNNINGHAM and HARRIS, concurring.)