Section 0780-01-86-.08 - COMPLIANCE MITIGATION; PENALTIES; ENFORCEMENT(1) An insurer is responsible for compliance with this Chapter. If a violation occurs, either because of the action or inaction of the insurer or its producer, the commissioner may order, pursuant to statutory authority granting power for such order:(a) An insurer to take reasonably appropriate corrective action for any consumer harmed by a failure to comply with this Chapter by the insurer, by its producer, or an entity contracted to perform the insurer's supervisory duties;(b) A general agency, independent agency, or the producer to take reasonably appropriate corrective action for any consumer harmed by the producer's violation of this Chapter; and(c) Appropriate penalties and sanctions.(2) Any applicable penalty under T.C.A. §§ 56-1-411, 56-2-305, 56-6-112, or 56-8-101 et seq. for a violation of this Chapter may be reduced or eliminated if corrective action for the consumer was taken promptly after a violation was discovered or the violation was not part of a pattern or practice.(3) The authority to enforce compliance with this Chapter is vested exclusively with the commissioner.Tenn. Comp. R. & Regs. 0780-01-86-.08
Original rule filed April 22, 2008; effective July 6, 2008. Repeal and new rule filed August 3, 2015; effective November 1, 2015. Amendments filed January 17, 2023; effective 4/17/2023.Authority: T.C.A. §§ 56-1-408, 56-1-409, 56-1-411, 56-1-416, 56-2-301, 56-2-305, 56-3-508, 56-6-112, 56-6-124, and 56-8-101 et seq.