Latest Illinois Headlines
All the headlines from our Illinois Topic Page, ordered by recency.
Judge Adds to Verdict in Trial of Pair of Chicago Companies
Oct 22 2001 // A judge has added $1.8 million in punitive damages to a $3 million jury verdict in the fraud trial of two Chicago area insurance companies accused of dragging their feet in paying out claims. According to a report in the...
Illinois Director Issues Bulletin to Comply with Executive Order
Oct 17 2001 // Illinois Insurance Director Nat Shapo has issued a bulletin to all Illinois insurance companies advising them to review their records and comply with an executive order signed by President Bush to freeze the assets of any...
Insurance for Family Protection Now Available
Oct 12 2001 // Insurance is now available to help protect Illinois families from financial loss if a loved one is the victim of one of four criminal activities. The Chubb Group of Insurance Companies is now offering Masterpiece® Family...
Illinois Company Conserved
Sep 24 2001 // Illinois Insurance Director Nat Shapo announced that he obtained an Order of Conservation against United Capitol Insurance Company on Sept. 12, following the Department of Insurance’s determination that the company...
Associated Physicians Ins. Co. Gets ‘R’
Sep 24 2001 // S&P assigned its “R” FSR to Associated Physicians Insurance Co. (APIC). APIC was declared insolvent and placed into liquidation on Aug. 16 by the Circuit Court of Cook County, Ill. The agreed order was...
Mercury Insurance Alleges Peoria, Ill.-based Mail Order Firm Misrepresented Itself
Sep 21 2001 // The company which provides $40 million in liability and fiduciary coverage for Foster & Gallagher Inc. claims that insurance is void because of misrepresentation by the Peoria-based mail order firm. St. Paul’s...
Progressive Expands Homeowners Product Offering to Illinois Agents
Sep 21 2001 // Progressive, one of the largest auto insurance companies in Illinois, made its homeowners insurance product available to be sold exclusively by independent agents in Illinois starting the week of Sept. 19. Initially, the...
S&P Assigns Associated Physicians Ins. Co. ‘R’ FSR
Aug 30 2001 // Standard & Poor’s assigned its “R” financial strength rating to Associated Physicians Insurance Co. (APIC). APIC was declared insolvent and placed into liquidation on Aug. 16, 2001, by the Circuit...
Politics Can Lead to Bumps in the Road for Auto Insurance
Aug 27 2001 // Overregulation in the auto insurance industry may be an accident that has already happened in some states; but regulators can look to other states as examples of how regulatory requirements can be uniform and yet flexible...
Illinois Company Placed Into Liquidation
Aug 20 2001 // An Illinois company was declared insolvent and placed into liquidation by the Circuit Court of Cook County, Ill. Associated Physicians Insurance Co. (APIC) of Oak Brook has been in runoff since 1995, and has not written...
Illinois Governor Signs ‘Whistle Blower’ Anti-Fraud Bill
Aug 16 2001 // Blowing the whistle on insurance fraud will be easier for Illinois companies and private citizens thanks to legislation sponsored by Senator Patrick O’Malley (R-Palos Park) and signed recently by Gov. George...
IIAA Tells Congress Auto Insurance Over-Regulated in Certain States
Aug 2 2001 // The extensive over-regulation of automobile insurance rates in some states shines a spotlight on the potential benefits of a market-driven approach to oversight, Independent Insurance Agents of America (IIAA)...
Ill. Producer Licensing Legislation, Insurance Guaranty Fund Bills Await Governor’s Signature
Jun 6 2001 // As the 2001 Illinois General Assembly session comes to a close, the insurance industry awaits Governor Ryan’s signature on bills addressing producer licensing and the State insurance guaranty fund. The National...
Bill on Insurer Use of Credit Passes Illinois Legislature
Jun 1 2001 // A bill that clarifies insurers’ use of consumer credit reports in underwriting has passed the Illinois General Assembly and is expected to be signed by the Governor. The American Insurance Association (AIA) worked...
Illinois SC Denies Alpine Ins. Co.’s Liquidation Appeal
Apr 11 2001 // The Illinois Supreme Court has denied Alpine Insurance Company’s petition for leave to appeal a Cook County Circuit Court liquidation order entered on June 28, 2000. The Supreme Court decision was rendered on April...
Illinois Appellate Court Affirms State Farm Aftermarket Part Decision
Apr 9 2001 // Last week, an Illinois state Appellate Court upheld most of a lower court’s verdict in a nationwide class-action lawsuit against State Farm Mutual Automobile Insurance Co. The court, in its affirmation of the trial...
Illinois Environmental Services Workers Comp Trust Liquidated
Mar 28 2001 // Illinois Environmental Services Workers Comp Trust Liquidated The Circuit Court of Cook County, Ill. has granted Illinois Insurance Director Nat Shapo’s petition to place the Illinois Environmental Services Workers...
Illinois Man Found Guilty of Arsons
Mar 7 2001 // A federal jury convicted on Tuesday an Illinois man of mail fraud and arson for destroying three houses and killing his first wife to collect more than $900,000 in insurance. According to government testimony, John Veysey...
Illinois DOI Budget Tops $33 Million
Feb 28 2001 // Illinois Governor George H. Ryan proposed a Fiscal Year 2002 budget of $33.6 million for the Illinois Department of Insurance including programs that protect consumers. Less than 1.5 percent of the total amount proposed...
PIIAI Disaffiliate with PIA National
Feb 26 2001 // At its meeting on Nov. 30, 2000, the Board of Directors of the Professional Independent Insurance Agents of Illinois voted to disaffiliate with the National Association of Professional Insurance Agents, pending...
