20-400.03. Penalties
If the director finds after a hearing that the insurer has knowingly, or with such frequency as to indicate a general business practice, violated the provisions of section 20-400.01 with respect to a particular class or that an insurer examined under section 20-400.02 has not complied with sections 20-356 and 20-357 or 20-384 and 20-385, he may, in addition to or in lieu of the penalties provided in section 20-397, do the following:
1. Impose a civil penalty equal to the difference between the premium charged and that which would have been charged without the application of inadequately justified adjustments if a refund pursuant to paragraph 3 of this section has not been ordered.
2. Suspend the insurer's authority to do business in any given class.
3. Require applicable refunds to policyholders.
Section: Previous 20-396 20-397 20-398 20-399 20-400 20-400.01 20-400.02 20-400.03 20-400.04 20-400.05 20-400.07 20-400.08 20-400.09 20-400.10 20-401 NextLast modified: October 13, 2016