44-1529. Cease and desist order; monetary penalty; suspension or revocation of license or certificate.
194 words·~1 min read·
/ne/chapter-44/44-1529A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
If, after the hearing, the director finds that the insurer, health insurance lead generator, or person charged has engaged in an unfair trade practice, the director shall reduce the findings to writing and shall issue and cause to be served upon the insurer, health insurance lead generator, or person charged with the violation a copy of such findings and an order requiring such insurer, health insurance lead generator, or person to cease and desist from engaging in the act or practice and the director may order any one or more of the following:
(1)Payment of a monetary penalty of not more than one thousand dollars for each violation, not to exceed an aggregate penalty of thirty thousand dollars, unless the violation was committed flagrantly in conscious disregard of the Unfair Insurance Trade Practices Act, in which case the penalty shall be not more than fifteen thousand dollars for each violation, not to exceed an aggregate penalty of one hundred fifty thousand dollars; and
(2)Suspension or revocation of the insurer's license or certificate of authority if the insurer knew or reasonably should have known that the insurer was in violation of the act.