An Agreed Order of Liquidation With a Finding of Insolvency was obtained against Illinois Insurance Company on July 9, 1999. The company, a domestic property & casualty company, is owned by North American Holdings, Inc., which acquired the company from North American Warranty Services in 1994, who in turn had acquired the company as essentially a shell from the estate of Millers National Insurance Company, in Liquidation in 1993.

Licensed in 4 states (IL, NM, NY, and ND), the company originally commenced business in 1876 as the German Fire Insurance Company of Peoria. Also known as Illinois Fire Insurance Company of Peoria, as well as Illinois Fire Insurance Company, the present title was adopted in 1958.

After its acquisition in 1993, the company was primarily engaged in warranty related business on a direct and assumed reinsurance basis. The company also wrote a small amount of private passenger automobile coverages.

The claim filing deadline was extended to March 9, 2001, with a contingent claim date of November 7, 2001. 641 claims have been filed with the Liquidator. Early access distributions of $1,700,951 have been made to the Illinois Insurance Guaranty Fund for administrative expenses.

On June 30, 2006, an order was entered approving distribution of final dividend, closing of the estate and termination of proceedings.