Illinois Department of Insurance Disciplinary Report for February, March & April 2012

CHICAGO – The Illinois Department of Insurance today announced the following disciplinary orders:Pro Insurance Agency, Inc., Chicago, On Track Associates, LTD, Chicago, & Barbara D. Siver, Glenview - The business entities and insurance producer licenses revoked effective March 23, 2012. Pro Insurance Agency, On Track Associates and Ms. Siver had been licensed to sell life, health, casualty, variable, and fire insurance since September 19, 1994 and July 29, 1996, respectively. The licenses were revoked as a result of an investigation which revealed the business entities and Ms. Siver had not deposited all premiums received in a Premium Fund Trust Account (PFTA), did not maintain a positive running balance and made unlawful withdrawals from the PFTA; failed to reconcile the PFTA monthly and and improperly labeled the PFTA; improperly withheld more than $17,000 in premiums from an insurer; failed to return premiums to consumers in a timely manner; failed to properly document commissi