Peoria, Ill.-based specialty insurer RLI Corp. said it has received a subpoena from the Illinois Division of Insurance in connection with industry-wide investigations into producer compensation agreements. Company management said in a statement that it is confident that RLI is not the specific target of any investigation. The subpoena seeks information on contingent commission agreements, and is identical to subpoenas that have been delivered to most insurance companies domiciled in Illinois.
The probes into the insurance industry have been in the press regularly since the New York state attorney general announced an investigation on Oct. 14. RLI has received similar inquiries from representatives of other states, and may continue to receive such inquiries as the company is licensed to do business in all 50 states. RLI said it is fully complying with all requests for information, and will continue to do so.
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