Illinois Director of Insurance J. Anthony Clark has revoked the insurance producer license of Joseph Welps of Wilmington effective July 8. Welps had been licensed since Nov. 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 ($2508.90) 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.
Venezuela Earthquake Death Toll Nears 2,000 
Insurers Avoid $664 Million Hit From Nord Stream Pipeline Blasts 
Allstate Sued by Oklahoma for Alleged Scheme to Underpay Claims 
Private Equity-Backed Insurance Broker Hub International Files Confidentially for IPO 
Want to stay up to date?
Get the latest insurance news
sent straight to your inbox.