W. Va. Code R. § 114-11B-7

Current through Register Vol. XLI, No. 50, December 13, 2024

Section 114-11B-7 - Compliance Mitigation; Penalties; Enforcement

7.1. An insurer is responsible for compliance with this rule. If a violation occurs, either because of the action or inaction of the insurer or its producer, the Commissioner may order:

7.1.1. An insurer to take reasonably appropriate corrective action for any consumer harmed by a failure to comply with this rule by the insurer, an entity contracted to perform the insurer's supervisory duties or the producer;

7.1.2. 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 rule; and

7.1.3. Appropriate penalties and sanctions under Chapter 33 of the West Virginia Code or legislative rules promulgated pursuant to said Chapter.

7.2. The Commissioner may reduce or eliminate any penalty permitted by section 7.1. of this rule if corrective action for the consumer is taken promptly after a violation is discovered or the violation was not part of a pattern or practice.

7.3. The authority to enforce compliance with this rule is vested exclusively with the Commissioner.

W. Va. Code R. § 114-11B-7