Insurance License Application Denied

SPRINGFIELD, IL. -- Illinois Department of Insurance has denied the insurance producer license of Jose L. Torres of Chicago, Illinois effective March 1, 2004.

Mr. Torres was applying for a license to sell life. His license application was denied as result of an investigation, which revealed that the Applicant failed to forward premiums to an insurer in a timely manner resulting in an insured's policy lapsing and that he failed to facilitate and aid the Director in an examination.

Under the Illinois Administrative Review Law he may have the right to appeal and request a stay of the Order. A copy of the Director's Order is attached.