Bill > SB1087

This bill amends the Insurance Code of 1956 by increasing the penalties for violations of the code. For insurers found in violation, the director can now order civil fines of up to $100,000 per violation, not to exceed $500,000 in total. For other persons found in violation, the director can order civil fines of up to $5,000 per violation, not to exceed $50,000 in total. The bill also allows the director to suspend, limit, or revoke the license or certificate of authority of a person who violates the code. Additionally, the bill increases the civil penalties for knowingly violating a cease and desist order, up to $20,000 per violation. These changes aim to strengthen enforcement and deter violations of the Insurance Code.