Simple interest of nine-percent (9%) typically accrues on court judgments awarding money. This post-judgment interest begins on the date of the judgment and accrues until the the judgment is paid. In certain circumstances, a party may be entitled to pre-judgment interest on any amounts awarded dating back to the date of the demand or lawsuit. Because…
Legal Articles
Prejudgment Interest: Liquidated Claims, Tort Claims
After a Judgment is obtained against a Defendant in Missouri, 9% interest per annum generally accrues on the Judgment (tort cases have a different interest rate). Is there a situation in which the interest can be retroactive before the Judgment was entered? Yes, pursuant to the Missouri prejudgment interest statutes. Under Section 408.020, prejudgment on liquidated claims…
Vexatious Refusal and Prejudgment Interest
In Missouri, there is a specific statutory section which penalizes insurance companies that handle claims in bad faith. Section 375.420, RSMo, provides the following: “In any action against any insurance company to recover the amount of any loss under a policy of automobile, fire, cyclone, lightning, life, health, accident, employers’ liability, burglary, theft, embezzlement, fidelity,…