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Pekin Life Insurance Company Holds Annual Meeting

Posted by on May 9, 2018 in News

Pekin Life Insurance Company held its annual meeting on Tuesday, May 8, 2018, at the Company’s Home Office in Pekin, Illinois.

The Company reported net income of $7.4 million. Premium income decreased by 10.4 percent to $199.3 million. Life Insurance in force exceeded $17.7 billion in the year 2017.

At the meeting, shareholders elected directors Craig W. Concklin, Hinsdale, Illinois; Daniel V. Connell, Tremont, Illinois; and John S. Heller, East Peoria, Illinois, to three year terms to expire in May 2021.

Other directors whose terms continue are: Steven R. Anderson, Loves Park, Illinois; Byron A. Dodd, Anna, Illinois; Scott A. Martin, Chillicothe, Illinois; and Thomas C. Hornstein, Brian K. Lee, and Christine A. Schwartz, all from Pekin, Illinois.

Pekin Life Insurance Company is an integral part of the Pekin Insurance® group of companies.

Pekin Life Insurance Company stock trades under the symbol “PKIN” and is listed on the OTC Pink Marketplace.

A multi-line company, Pekin Life Insurance Company offers individual life which includes term life, whole life, universal life, as well as medicare supplement, annuity, credit insurance, debt protection, and pre-need coverages. Additionally, Pekin Life Insurance Company has a third party claims administration division, Group Plan Solutions, which is designed to provide employer-based, self-funded health plan administration.

Other products offered by the Pekin Insurance group include personal automobile, homeowners, motorcycle, recreational vehicle, boatowners, personal umbrella, commercial automobile, businessowners, commercial property and liability, workers compensation, commercial umbrella and bonds.

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Pekin Insurance® Holds Annual Meeting

Posted by on Feb 13, 2018 in News

The Farmers Automobile Insurance Association held its annual meeting on Tuesday, February 13, 2018, at their Home Office in Pekin, Illinois.

The following directors were elected for three year terms: Craig W. Concklin Hinsdale, Illinois; Daniel V. Connell, Tremont, Illinois; and John S. Heller, East Peoria, Illinois.

Subscribers elected, Craig W. Concklin Hinsdale, Illinois; and John S. Heller, East Peoria, Illinois, to the Advisory Committee.

Pekin Insurance officers elected included: Scott A. Martin, Chairman of the Board, President, and Chief Executive Officer; Steven R. Anderson, Vice Chairman of the Board; Daniel V. Connell, Senior Vice President, Chief Financial Officer, and Secretary; Todd A. Clark, Senior Vice President and Chief Operating Officer – Property/Casualty; Brian K. Lee, Senior Vice President and Chief Operating Officer -Life; Curtis A. Eeten, Vice President – Claims; Gregory L. Feller, Vice President – Sales; Joel M. Jackson, Vice President – Marketing; Subhasis Mukherjee, Vice President – Chief Information Officer; Edward A. Mulvey, Vice President – Personal Lines Underwriting and Assistant Secretary; Tyler D. Petersen, Vice President – General Counsel and Assistant Secretary; Kimberly S. Remmert, Vice President – Human Resources; Joseph C. Ricigliano, Vice President – Commercial, Lines Underwriting and Assistant Secretary; Diane K. Steiner, Vice President – Life Underwriting and Assistant Secretary; Michael A. Zabinski, Vice President- Controller; Amber J. Stenger, Assistant Treasurer; Michele E. Ginther, Assistant Treasurer; and Aaron Z. Potacki, Assistant Secretary.

Pekin Insurance is a group name adopted to designate the combined operation of The Farmers Automobile Insurance Association, Pekin Insurance Company, PAC, Inc., and Pekin Life Insurance Company.

Pekin Insurance has been in business since 1921, and is one of the leading insurers in the State of Illinois, providing multiple lines of insurance. Pekin Insurance offers insurance coverage in Arizona, Illinois, Indiana, Iowa, Ohio, and Wisconsin through its growing agency force which now totals 1,079 in_dependent agencies and 8, 183 insurance producers in the six state area. The company is headquartered in Pekin, Illinois, with service offices at Phoenix, Arizona; Mount Vernon, Rockford, and Warrenville, Illinois; Indianapolis, Indiana; Des Moines, Iowa; Columbus, Ohio; and Appleton, Wisconsin.

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Pekin Insurance® becomes a National Weather Service StormReady Supporter

Posted by on Jan 12, 2018 in News

National Weather Service officials have recognized Pekin Insurance as a StormReady® Supporter. The StormReady Supporter program is part of the larger StormReady program, a grassroots program designed to help communities establish severe weather safety plans and actively promote weather awareness. StormReady communities have made a strong commitment to implement the infrastructure and systems needed to save lives and protect property when severe weather strikes.

Chris Miller, Warning Coordination Meteorologist of the National Weather Service forecast office in Lincoln, Illinois, presented Pekin Insurance with a certificate during a ceremony at their Home Office in Pekin, Illinois, on January 10, 2018.

“This past year the United States was hit especially hard by weather events.  There is nothing we can do to stop weather, but what we can do is prepare ahead of time.  Pekin Insurance has done an outstanding job of putting together a plan to keep their employees and visitors safe during hazardous weather events,” said Chris Miller.

The nationwide community preparedness program, founded in 1999, is a grassroots approach to preparing for natural hazards. Today, more than 2,700 StormReady communities and nearly 800 StormReady Supporters throughout the nation help citizens become better prepared for severe weather.

To be recognized as StormReady Supporter, an organization must promote the principles and guidelines of the StormReady program, which includes maintaining a 24-hour warning point and emergency operations center; having more than one way to receive National Weather Service warnings and to alert the public; monitoring local weather and flood conditions; conducting community preparedness programs; and ensuring  hazardous weather and flooding are addressed in formal emergency management plans, which include training SKYWARN® weather spotters and holding emergency exercises.

The StormReady program is part of the National Weather Service’s working partnership with the International Association of Emergency Managers and the National Emergency Management Association.

The National Weather Service’s Central Illinois Forecast Office, located in Lincoln, Illinois, is the primary source of weather data, forecasts, and warnings for about 2 million people in 35 counties across central, eastern, and southeastern Illinois. Join us on Facebook and Twitter. Working with partners, the National Weather Service is building a Weather-Ready Nation to support community resilience in the face of increasing vulnerability to extreme weather.

 

 

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Illinois Policyholders Affected By Flooding

Posted by on Jul 21, 2017 in News

Pekin Insurance® is responding to the needs of its policyholders and the requests of the Illinois Department of Insurance in the administration of insurance policies, including all lines, resulting from a recent flooding disaster that impacted 4 counties.  Effective immediately, the following actions are applicable for all lines to insureds residing in Cook, Kane, Lake, and McHenry Counties.

  • Moratorium on cancellations and nonrenewals.  Insurers shall withdraw any cancellation or nonrenewal notice issued on or after July 12, 2017, on any in-force policy issued to an affected policyholder and/or property.  In addition, insurers shall not issue any new cancellation or nonrenewal notices to affected policyholders and/or property until September 30, 2017, or a later time if deemed reasonable given an individual consumer’s circumstance.  Some policies will be reinstated to comply with this July 12, 2017, date.  This “moratorium” is not a waiver; it is only an extension of the grace period in which to pay the premium.  After this moratorium period, the policyholder will have to resume making premium payments.
  • Other insurance-related time-period extensions.  Insurers are directed to grant to affected policyholders an extension of any and all policy provisions or other requirements that impose a time limit for an insured or claimant to perform any act, including the submission of a claim or proof of loss, reporting of information, submission of bills, or payment of funds.  Such extension shall be for a minimum of 60 days from the last date allowed or required under the terms of the contract or allowed or required by the insurer, or longer if deemed reasonable given an individual consumer’s circumstance.
  • Time-period extension for repairs.  In the event repairs on affected property cannot be completed within the time period required under any policy, or within the 90-day time period for repairs prior to termination due to condition of the property, insurers shall provide consumers with an extension of not less than 60 days to make such repairs.
  • Cancellation or nonrenewal respecting affected property. Although otherwise allowed under Illinois law, insurers are directed to refrain from canceling or nonrenewing insurance policies respecting affected property due to “increase in the risk originally accepted” or due to the geographic location of the risk.
  • Other exceptions to policy or contract requirements or rating or underwriting rules. Insurers shall consider exceptions to policy or contract requirements, or to other rating or underwriting rules not otherwise listed herein, when such contractual requirements or rating or underwriting rules are not met as a result of this disaster.  Exceptions to policy or contract requirements or rating or underwriting rules include instances where an insured is displaced from his or her home and is unable to obtain non-emergency medical services from a network provider.

It is our sincere goal to accommodate the needs of our policyholders that have been affected by these natural disasters.  Please feel free to contact your Personal Lines, Commercial Lines, and Life underwriters with any additional questions you may have.

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Pekin Insurance Ranked #47 in the 2017 Super Regional P/C Insurers List

Posted by on May 31, 2017 in News

Pekin Insurance has once again earned a spot on Insurance Journal’s Super Regional P/C Insurers list. To make it on the list, the company had to meet the following criteria:

· Active, individual companies.
· Reporting data using the property/casualty annual statement format.
· At least $1 million of direct premium written in each of 2 to 34 states.
· Less than 90 percent of direct premium written in any one state.
· Less than 90 percent of direct premium written in any one line of business.
· Policyholders surplus of at least $100 million.
· Net premium written of at least $50 million.
· Direct premium written of at least $25 million.

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Information Security Alert

Posted by on May 18, 2017 in News

Recently, a large scale ransomware attack has been spreading across the globe, disrupting computer systems and communications at hospitals, government offices, and other types of companies.  The software locks computers making them unusable.

The ransomware, known as WannaCry or WannaCrypt, locks you out of your systems until you pay the crooks who installed it.  It takes advantage of a security hole in Windows server software that can be closed by downloading and applying the update from Microsoft.

Here is how you can check to see if the patch has been installed and how to apply it.

Please follow these steps to use the Microsoft Update site to install all critical updates for your computer.  Please note that the update process will vary based on the version of Microsoft Windows you are running.  Locate your version and follow the corresponding steps.

To turn on automatic updates in Windows 10:

Note:  Windows 10 is a service, which means automatic updates are turned on by default and your PC always has the latest and best features.

  1. Select the Startbutton, then select Settings  > Update & security  > Windows Update . If you want to check for updates manually, select Check for updates.
  2. Select Advanced options, and then under Choose how updates are installed, select Automatic (recommended).

To turn on automatic updates in Windows 8.1:

  1. Open Windows Update by swiping in from the right edge of the screen (or, if you’re using a mouse, pointing to the lower-right corner of the screen and moving the mouse pointer up), select Settings > Change PC settings > Update and recovery > Windows Update. If you want to check for updates manually, select Check now.
  2. Select Choose how updates get installed, and then under Important updates, select Install updates automatically (recommended).
  3. Under Recommended updates, select the Give me recommended updates the same way I receive important updates check box.
  4. Under Microsoft Update, select the Give me updates for other Microsoft products when I update Windows check box, and then select Apply.

To turn on automatic updates in Windows 7:

  1. Select the Start button.  In the search box, enter Update, and then, in the list of results, select Windows Update.
  2. In the left pane, select Change settings, and then under Important updates, select Install updates automatically (recommended).
  3. Under Recommended updates, select the Give me recommended updates the same way I receive important updates check box, and then select OK.

Note:

If you use an older Windows network system no longer supported by Microsoft, you may not have been prompted to download security updates, but they’re available from Microsoft’s site.

In addition to keeping software up-to-date, here are a couple of other things you can do to defend against a ransomware attack:

  • Back up your files. From accounting to tax documents, make it part of your routine to back up files often on your computers and mobile devices.
  • Think twice before clicking on links or downloading attachments and apps. Ransomware often is downloaded through phishing emails.  You also can get ransomware from visiting a compromised site or through malicious online ads.
  • Get Antivirus. Make sure any anti-virus product is up to date and scan your computer for any malicious programs.  It’s also worth setting up regular auto-scans.
  • Patch your system. Apply vendor suppled patches whenever technically possible.  This includes Microsoft Operating Systems and 3rd party applications, such as Adobe Reader and Flash.

Additional Resources:

Microsoft has more tips on keeping you safe from ransomware at their Malware Protection Center. Additionally, Pekin Insurance has created Agency Security Guidelines to help minimize the risk to independent Pekin Insurance agency networks.

 

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