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.
Founder of Auto Parts Maker Charged With Fraud That Wiped Out Billions 
Hackers Hit Sensitive Targets in 37 Nations in Spying Plot 
Uber Jury Awards $8.5 Million Damages in Sexual Assault Case 
Why 2026 Is The Tipping Point for The Evolving Role of AI in Law and Claims 
Want to stay up to date?
Get the latest insurance news
sent straight to your inbox.