760 Ind. Admin. Code 2-19-1

Current through October 31, 2024

Section 760 IAC 2-19-1 - Civil penalties

Authority: IC 27-8-12-7

Affected: IC 27-8-12

Sec. 1.

In addition to any other penalties provided by the laws or rules of this state, the commissioner may impose a civil penalty against an insurer which has violated the laws or rules. A penalty imposed under this section shall be the greater of:

(1) three (3) times the amount of the commissions paid for each policy involved in the violation; or

(2) ten thousand dollars ($10,000).

760 IAC 2-19-1

Department of Insurance; 760 IAC 2-19-1; filed Oct 30, 1992, 12:00 p.m.: 16 IR 869; readopted filed Sep 14, 2001, 12:22 p.m.: 25 IR 531; readopted filed Nov 27, 2007, 4:01 p.m.: 20071226-IR-760070717RFA; readopted filed November 26, 2013, 3:43 p.m.: 20131225-IR-760130479RFA

Readopted filed 11/19/2019, 9:18 a.m.: 20191218-IR-760190497RFA

Readopted filed 11/30/2022, 11:39 a.m.: 20221228-IR-760220302RFA