Insurance License Revoked

SPRINGFIELD, IL. -- Illinois Acting Director of Insurance Deirdre K. Manna has revoked the business entity and insurance producer license of Janssen Agency and Michael W. Janssen of Carlinville, Illinois and Gillespie, Illinois respectively effective July 18, 2004. Janssen Agency and Mr. Janssen had been licensed since April 26, 2002 and February 17, 1994 respectively.

Mr. Janssen was licensed to sell life, accident and health, fire, casualty, and variable insurance. His license was revoked as a result of an investigation, which revealed the misappropriation and improper withholding of fiduciary funds, the failure to return premiums timely, the issuance of fraudulent identification cards, and PFTA record keeping violations.

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.