Insurance License Revoked

SPRINGFIELD, IL. -- Illinois Director of Insurance J. Anthony Clark has denied the insurance producer license application of Philip A. Fair of Chicago effective June 16, 2003. Mr. Fair was previously licensed to sell life, accident and health, and fire and casualty insurance by the Department from 1992 to 1999.

Mr. Fair's license application was denied as a result of an investigation which revealed he provided incorrect, misleading and materially untrue information on his application for a license, previously sent a check with insufficient funds to the Department, failed to respond to the Department on a consumer complaint, failed to provide books and records, and failed to a hold premiums in a fiduciary capacity.

Under the Illinois Administrative Review Law, Mr. Fair has the right to appeal and request a stay of the Order. A copy of the Director's Order is attached.