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1 Regulation of Forms and Rates for Property and Casualty Insurance; Penalties Increased. Amend RSA 412:40, I to read as follows:
I. The commissioner, may upon a finding that any person or organization has violated any provisions of this chapter, impose a penalty of not less than $500 $10,000 or more than $10,000 $40,000 for each violation, but if the violation is found to be willful, a penalty of not less than $1,000 $30,000 or more than $25,000 $75,000 may be imposed for each violation. Separate penalties may be in addition to any other penalty provided by law.
2 Effective Date. This act shall take effect January 1, 2018.
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1 Regulation of Forms and Rates for Property and Casualty Insurance; Penalties Increased. Amend RSA 412:40, I to read as follows:
I. The commissioner, may upon a finding that any person or organization has violated any provisions of this chapter, impose a penalty of not less than $10,000 or more than $40,000 for each violation, but if the violation is found to be willful, a penalty of not less than $30,000 or more than $75,000 may be imposed for each violation. Separate penalties may be in addition to any other penalty provided by law.
2 Effective Date. This act shall take effect January 1, 2018.