Cross References
Variable contracts, see §431:10D-118.
§431:10D-624 Compliance mitigation; penalties. (a) An insurer shall be responsible for compliance with this part. If a violation occurs because of the action or inaction of the insurer or its insurance producer, the commissioner may order:
(1) An insurer to take reasonably appropriate corrective action for any consumer harmed by the insurer's or its insurance producer's violation of this part;
(2) A business entity, general agency, independent agency, or the insurance producer to take reasonably appropriate corrective action for any consumer harmed by the insurance producer's violation of this part; and
(3) Appropriate penalties and sanctions.
(b) Any penalty applicable to an insurer, a managing general agent, independent agencies, or a producer under article 13 of chapter 431 may be applicable to a violation of this part; provided that penalties may be reduced or eliminated if corrective action for the consumer was taken promptly after a violation was discovered or if the violation was not part of a pattern or practice. [L 2007, c 257, pt of §2; am L 2011, c 108, §6]
Section: Previous 431-10d-602 431-10d-603 431-10d-604 431-10d-605 431-10d-621 431-10d-622 431-10d-623 431-10d-624 431-10d-625 431-10d-626 431-10d-641 431-10d-642 431-10e-101 431-10e-102 431-10e-103 NextLast modified: October 27, 2016