ARE PENALTIES IN PLACE FOR COMPANY & BROKER NON-COMPLIANCE?

The Director of Insurance may impose an administrative penalty not to exceed $15,000.00 upon any insurer who transacts - or attempts to transact - insurance as a S/L insurer in violation of any provision of Chapter 12, title 41.

Surplus Line Brokers in violation of any section are subject to general penalty as provided by Title 41 and are subject to suspension or revocation of all insurance licenses.