Illinois Department of Insurance Issues Disciplinary Action
Derrick L. Palmer, Calumet City, Insurance License Revoked
SPRINGFIELD, IL – The Illinois Department of Insurance (DOI) announced the following disciplinary action against Derrick L. Palmer of Calumet City, IL.:
Derrick L. Palmer, Calumet City – Insurance producer license revoked effective February 19, 2015. Mr. Palmer had been licensed to sell life and variable insurance since 2007. Mr. Palmer’s license was revoked after an investigation revealed he allegedly misrepresented the terms and proposed insurance contract, failed to repay chargeback commissions, and failed to facilitate and aid the Director in the investigation. The Order of Revocation also assessed a civil penalty of $10,000.
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The Department’s mission is to protect consumers by providing assistance and information, by efficiently regulating the insurance industry’s market behavior and financial solvency, and by fostering a competitive insurance marketplace. The Illinois Department of Insurance assists consumers with all insurance complaints, including health, auto, life, and homeowner. Consumers in need of information or assistance should visit the Departments website at insurance.illinois.gov or call our toll-free hotline at (866) 445-5364.
