Bill Section

Description

Current Fine

sHB 5159 Fine

1

General penalty – Violation of any Title 38a provision when no other penalty is provided

Up to $ 7,500

Up to $ 15,000

2

Company license suspension, revocation, or non-renewal for cause (Fine is in addition to or in lieu of license action. )

Up to $ 10,000

Up to $ 50,000

3

Assessments on domestic insurers – Not paying assessment when due

$ 10 plus 6% per annum interest

$ 25 plus 6% per annum interest

4

Annual and quarterly financial reports of insurers and HMOs – Filing late

$ 100 per day for each day overdue

$ 175 per day for each day overdue

5

Managing General Agents Act – Violating the act (Fine is in addition to license revocation or suspension. )

$ 10,000 for each violation

$ 15,000 for each violation

6

Insurance Holding Company Act – An individual's willful violation of the act

Up to $ 3,000

If intentional fraud: fine, up to two years in prison, or both

Up to $ 15,000

If intentional fraud: fine, up to two years in prison, or both

6

Insurance Holding Company Act – An insurance company's willful violation of the act

Up to $ 10,000

Up to $ 50,000

6

Insurance Holding Company Act – Willfully and knowingly making a false statement or report to deceive the commissioner

Up to $ 25,000, up to five years in prison, or both

Up to $ 50,000, up to five years in prison, or both

6

Insurance Holding Company Act – An insurance company, without just cause, does not file a required registration statement

$ 100 each day, up to $ 10,000 maximum

$ 150 each day, up to $ 15,000 maximum

6

Insurance Holding Company Act – A director or officer willfully violates the act or agrees to engage in transactions or investments not properly reported or permitted

Up to $ 5,000 for each violation

Up to $ 7,500 for each violation

7

Insurance Premium Finance Companies – Violating act (Fine is in addition to, or in lieu of, license suspension or revocation. )

Up to $ 1,000 for each violation

Up to $ 5,000 for each violation

8

Utilization Review – Violating the UR law (Fine is in addition to license suspension or revocation. )

Fine increases if company knew or should have known of violation.

Up to $ 1,000 for each violation and $ 10,000 maximum

Up to $ 5,000 for each violation and $ 50,000 maximum in any six-month period

Up to $ 1,500 for each violation and $ 15,000 maximum

Up to $ 7,500 for each violation and $ 75,000 maximum in any six-month period

8

Utilization Review – Violating commissioner's cease and desist order (Fine is in lieu of license suspension or revocation. )

Up to $ 50,000

Up to $ 75,000

9

Utilization Review – Providing fraudulent or misleading information to a UR company

Up to $ 5,000 or equal to the value of services provided due to the fraud

Up to $ 7,500 or equal to the value of services provided due to the fraud

10

Unauthorized Insurers Act– Not paying premium tax on time

The greater of 10% of the tax or $ 50, plus 1% interest per month

The greater of 10% of the tax or $ 75, plus 1% interest per month

11

Unauthorized Insurers Act—Any unauthorized insurer doing insurance business

Up to $ 10,000

Up to $ 50,000

11

Unauthorized Insurers Act—Violating the specific provisions of the act

$ 500 for first offense and $ 500 for each month it continues

$ 2,500 for first offense and $ 2,500 for each month it continues

12

Defrauding a life or accident insurance company

If obtained less than $ 100 due to fraud: up to $ 500, up to one year in prison, or both

(If more: up to 10 years in prison)

If obtained less than $ 2,000 due to fraud: up to $ 10,000, up to one year in prison, or both

(If more: up to 10 years in prison)

13

Standard Form of Fire Insurance Policy – Making, issuing, or delivering a fire insurance policy that is not the statutorily required standard policy

Up to $ 200 for each offense

Up to $ 1,000 for each offense

14

Group Life Insurance – Failure to give an insured a notice of insurance cancellation or discontinuance

Up to $ 1,000 for each violation

Up to $ 2,000 for each violation

15

Burial Contracts – Issuing burial contracts without a license or without the required provisions

Up to $ 500, up to one year in prison, or both

Up to $ 6,000, up to one year in prison, or both

16

Individual Health Insurance – Delivering an individual policy that does not meet statutory requirements

Up to $ 500 for each offense

Up to $ 10,000 for each offense

17

Group Health Insurance – Failure to give an insured a notice of insurance cancellation or discontinuance

Up to $ 1,000 for each violation

Up to $ 2,000 for each violation

18

Group Health Insurance – Delivering a group policy that does not meet statutory requirements

Up to $ 500 for each offense

Up to $ 1,000 for each offense

19

Consumer Dental Plans – Not complying with statutory requirements

Up to $ 1,000 for each violation

Up to $ 1,500 for each violation

20

Fraternal Benefit Societies– Making false or misleading statements regarding the insurance contract or knowingly receiving compensation because of such violation

$ 100 to $ 500 fine, 30 days to one year in prison, or both

$ 2,000 to $ 10,000 fine, 30 days to one year in prison, or both

21

Fraternal Benefit Societies– Making a false or fraudulent statement on a membership application

$ 100 to $ 500 fine, 30 days to one year in prison, or both

$ 2,000 to $ 10,000 fine, 30 days to one year in prison, or both

21

Fraternal Benefit Societies– Soliciting membership for unlicensed fraternal benefit society

$ 50 to $ 200

$ 1,000 to $ 4,000

21

Fraternal Benefit Societies– A willful violation, neglect, or refusal to comply with fraternal benefit society statutes when no other penalty exists

Up to $ 200

Up to $ 4,000

22

Credit Life, Accident and Health Insurance – Violating statutory requirements

Up to $ 250,

two years in prison, or both

Up to $ 1,500,

two years in prison, or both

23

Personal and Commercial Risk Insurance Rating Practices – Not complying with the commissioner's final order

Up to $ 1,000, but if willful, up to $ 10,000, up to one year in prison, or both

Up to $ 2,000, but if willful, up to $ 20,000, up to one year in prison, or both

24

Insurance Producers –

Soliciting business for unlicensed insurance company

Up to $ 100, up to six months in prison, or both

Up to $ 2,000, up to six months in prison, or both

25

Insurance Producers – Acting without a license

Up to $ 500, up to three months in prison, or both

Up to $ 10,000, up to three months in prison, or both

26

Insurance Producers –

Signing or countersigning insurance policies in blank by an insurance producer (Fine is in addition to license revocation. )

Up to $ 100

Up to $ 1,000

27

Public Adjusters – Acting as a public adjuster without a license

Up to $ 500, up to three months in prison, or both

Up to $ 10,000, up to three months in prison, or both

28

Certified Insurance Consultants – Not acknowledging or giving receipt for services

$ 50 to $ 500

$ 250 to $ 2,500

29

Certified Insurance Consultants – Receiving compensation in violation of law

$ 50 to $ 500 fine, 30 to 90 days in prison, or both

$ 250 to $ 2,500 fine, 30 to 90 days in prison, or both

30

Certified Insurance Consultants – Acting as certified insurance consultant without a license

$ 50 to $ 500 fine, up to six months in prison, or both

$ 250 to $ 2,500 fine, up to six months in prison, or both

31

Fraternal Agents –Acting as fraternal agent without a license

Up to $ 100

Up to $ 10,000

32

Licensing in General – Willful misrepresentation on a license application

Up to $ 500, up to six months in prison, or both

Up to $ 4,000, up to six months in prison, or both

33

Licensing in General – Impersonating another person when taking an insurance license examination

Up to $ 500, up to six months in prison, or both

Up to $ 4,000, up to six months in prison, or both

34

Licensing in General – For cause (Fine is in addition to or in lieu of license suspension or revocation. )

Up to $ 1,000

Up to $ 5,000

35

Surplus Lines Broker – Not making and filing an affidavit or willfully making a false affidavit

Up to $ 500, up to six months in prison, or both

Up to $ 4,000, up to six months in prison, or both

36

Certified Insurance Consultants – Not giving commissioner information within 10 days

$ 50 to $ 500

$ 250 to $ 2,500

37

Motor Vehicle Physical Damage Appraisers – Acting without a license

Up to $ 500, up to one year in prison, or both

Up to $ 2,500, up to one year in prison, or both

38

Casualty Claim Adjusters– Acting without a license

Up to $ 200, up to one year in prison, or both

Up to $ 2,000, up to one year in prison, or both

39

Unfair and Prohibited Practices – Committing an unfair or prohibited practice (Fine is in addition to or in lieu of license suspension or revocation and restitution. )

Up to $ 1,000 for each violation, but up to $ 10,000 maximum

Up to $ 5,000 for each violation, but up to $ 50,000 maximum

39

Unfair and Prohibited Practices – Knowingly committing an unfair or prohibited practice (Fine is in addition to or in lieu of license suspension, license revocation, and restitution. )

Up to $ 5,000 for each violation, but up to $ 50,000 maximum in any six-month period

Up to $ 25,000 for each violation, but up to $ 250,000 maximum in any six-month period

39

Unfair and Prohibited Practices – Violating a cease and desist order (Fine is in addition to or in lieu of license suspension or revocation. )

Up to $ 10,000 for each violation

Up to $ 50,000 for each violation

40

Unfair and Prohibited Practices – Any misrepresentation to convince an insured to surrender a policy and replace it with another

Up to $ 500, up to 30 days in prison, or both

Up to $ 5,000, up to 30 days in prison, or both

41

Unfair and Prohibited Practices – Publishing a false statement of assets or one that does not meet statutory requirements

$ 500 for first offense, $ 1,000 for each subsequent offense

$ 10,000 for first offense, $ 20,000 for each subsequent offense

42

Connecticut Insurance Guaranty Association – Not paying assessment when due (Fine is in lieu of license suspension or revocation. )

Up to 5% of the unpaid amount per month, but at least $ 100 a month

Up to 5% of the unpaid amount per month, but at least $ 500 a month,

43

Connecticut Life & Health Insurance Guaranty Association – Not paying assessment (Fine is in lieu of license suspension or revocation. )

Up to 5% of the unpaid amount per month, but at least $ 100 a month

Up to 5% of the unpaid amount per month, but at least $ 500 a month,

44

Brokered Transactions Guaranty Fund – Penalty for filing a document that is false or untrue or has a material misrepresentation

At least $ 200

At least $ 300

45

Brokered Transactions Guaranty Fund – Penalty for having embezzled (Penalty is in addition to restitution, attorney costs and fees, and other relief the court may order)

Up to $ 1,000

Up to $ 1,500

46

Rehabilitation and Liquidation Act – Failure to cooperate with the commissioner

Up to $ 10,000, up to one year in prison, or both; or up to $ 10,000 and suspended or revoked license

Up to $ 10,000, up to one year in prison, or both; or up to $ 25,000 and suspended or revoked license

47

Rehabilitation and Liquidation Act – Any agent not giving required notice of policies written for an insurer subject to liquidation or not filing a compliance report (Fine is in addition to or in lieu of license suspension or revocation. )

Up to $ 1,000

Up to $ 2,500

48

Rehabilitation and Liquidation Act – Not paying collected premiums and unearned commissions to the liquidator (Fine is in addition to or in lieu of license suspension, revocation, or non-renewal. )

Up to $ 1,000 for each violation

Up to $ 2,500 for each violation

49

Connecticut Insurance Information and Privacy Protection Act – Obtaining information from an insurance institution under false pretenses

Up to $ 10,000

Up to $ 20,000