(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 producer, the commissioner may order:
Ask an insurance law question, get an answer ASAP! Click here to chat with a lawyer about your rights.
(1) An insurer to take reasonably appropriate corrective action for any consumer harmed by a failure to comply with this part by the insurer, an entity contracted to perform the insurer’s supervisory duties, or by the producer;(2) A business entity, general agency, independent agency, or the producer to take reasonably appropriate corrective action for any consumer harmed by the 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.(c) The authority to enforce compliance with this part is vested exclusively with the commissioner.
