Chicago Insurance License Attorneys
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Zimmerman Law Offices, P.C.
77 West Washington St
Suite 1220
Chicago, IL 60602
Map & Directions
Phone: 312-440-0020
Fax: 312-440-4180
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Chicago Insurance License Attorneys
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Insurance Agency Accused of Converting Premium Trust Money - An insurance agency was accused by the Illinois Department of Financial and Professional Regulation (IDFPR) of using its insured's premium payments to pay the agency's overhead instead of remitting the money to the insurance carrier to pay premiums for the insured's insurance policies. We successfully demonstrated to the IDFPR that a former partner of the agency had embezzled hundreds of thousands of dollars (for which he went to prison), and that the agency was not at fault for the temporary misuse of funds. No insurance policies were canceled and the agency eventually repaid the money. The IDFPR dropped the case with no disciplinary action taken against the agency's license.