Sec. 751.351. SANCTIONS. (a) The commissioner may impose sanctions under Chapter 82 against an insurer determined, as a result of a market conduct action or other action under this chapter, to have violated this code, a rule adopted under this code, or another insurance law of this state.
(b) In determining an appropriate sanction under Subsection (a) the commissioner shall consider:
(1) any actions taken by the insurer to maintain membership in, and comply with the standards of, best-practice organizations that promote high ethical standards of conduct in the insurance marketplace; and
(2) the extent to which the insurer maintains regulatory compliance programs to self-assess, self-report, and remediate problems detected by the insurer.
Added by Acts 2005, 79th Leg., Ch. 291 (S.B. 14), Sec. 3, eff. September 1, 2005.
Section: Previous 751.201 751.202 751.203 751.204 751.205 751.206 751.207 751.208 751.209 751.251 751.252 751.301 751.302 751.303 751.304Last modified: September 28, 2016