Princeton, Ill.-based Parr Insurance Agency has returned a final check for $10,000 to the city of Princeton for service fees the agency charged but not disclose, according to the Peoria Journal Star.
The city paid a service fee of 10 percent to the agency for its 2002-04 commercial insurance policies, but Harold E. Parr was fined $30,000 and ordered to pay back nearly $103,000 in undisclosed fees.
Parr was producing for the Illinois Municipal League, which does not pay agents a commission but does allow them to charge service fees to the their customers.
Was this article valuable?
Here are more articles you may enjoy.
Allstate Q3 Net Income Drops About 45% on Higher Catastrophe Losses 
Georgia, Florida Insurers Facing New Scrutiny, Regulations After Election 
Learjet May Have Broken Up Before Fatal Florida Crash, NTSB Says 
Municipal Insurer Must Pay Share of $14.9 Million Wrongful Incarceration Settlement 
