Illinois Director of Insurance J. Anthony Clark has revoked the insurance producer license of Joseph Welps of Wilmington effective July 8, 2003. Welps had been licensed since November 14, 1996.
Welps was licensed to sell life, accident and health and fire and casualty insurance. The Order of Revocation was issued as a result of an examination revealing the improper withholding of fiduciary monies ($2,508.90) and the failure to maintain insurance related books and records as required.
Under the Illinois Administrative Review Law he may have the right to appeal and request a stay of the Order.
Was this article valuable?
Here are more articles you may enjoy.
Q4 Global Commercial Insurance Rates Drop 4%, in 6th Quarterly Decline: Marsh 
Allstate Doubles Q4 Net Income While Auto Underwriting Income Triples 
Insurance Broker Stocks Sink as AI App Sparks Disruption Fears 
Florida’s Commercial Clearinghouse Bill Stirring Up Concerns for Brokers, Regulators 
