(1) Violations of this chapter, or of chapter 16 (worker’s compensation rates), title 41, Idaho Code, shall be subject to the penalties provided by section 41-117 (general penalty), Idaho Code.
(2)  After a hearing in accordance with chapter 2, title 41, Idaho Code, the director may suspend or revoke any insurer which has failed to comply with an order of the director within the time limited by the order, or within any extension of time which the director may grant. The director shall not so suspend or revoke for failure to comply with his order until the time prescribed for an appeal from such order has expired or if an appeal has been taken, until such order has been affirmed. The director may determine when the suspension or revocation shall become effective, and, subject to section 41-329, Idaho Code, as to an insurer’s certificate of authority, any suspension order shall remain in effect for the period fixed by him unless he modifies or rescinds the suspension or until the order upon which the suspension is based is modified, rescinded or reversed.