Governmental-action exclusion applied to ‘indirect’ damage- In a case of first impression, the 3rd District Appellate Court recently held that an insured’s property damage accidentally caused by a contractor hired by a municipality to demolish a building on an adjacent lot was not covered by the insured’s.
‘A-‘ Rating Assigned to Illinois Workers’ Comp Carrier Pekin Select Insurance February 3, 2021
The outlook is stable.
PSIC, which writes preferred workers’ compensation business, is a newly formed member of the Pekin Insurance Group, AM Best said. Pekin’s other subsidiaries include: Farmers Automobile Insurance Association (FAIA), a reciprocal exchange that was formed in 1921; Pekin Insurance Co. (PIC), a stock company founded in 1961 whose shares are wholly owned by FAIA; and Pekin Life Insurance Co. (PLIC).
Both FAIA and PIC offer a full array of personal and commercial property/casualty insurance products. Based in Illinois, the companies operate in more than 20 states.