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North Dakota Century Code Title 26.1. Insurance § 26.1-34.2-04. Compliance mitigation--Enforceability--Penalty

Current as of January 01, 2024 | Updated by Findlaw Staff

1. An insurer is responsible for compliance with this chapter. If a violation occurs, either because of the action or inaction of the insurer or the insurer's producer, the commissioner may order:

a. An insurer to take reasonably appropriate corrective action for any consumer harmed by a failure to comply with this chapter by the insurer or by the producer;

b. A general agency, independent agency, or the producer to take reasonably appropriate corrective action for any consumer harmed by the producer's violation of this chapter; and

c. Appropriate penalties and sanctions.

2. Any applicable penalty under section 26.1-01-03.3 for a violation of this chapter may be reduced or eliminated, according to a schedule adopted by the commissioner, if corrective action for the consumer was taken promptly after a violation was discovered.

3. The authority to enforce compliance with this section is vested exclusively with the commissioner.

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Cite this article: FindLaw.com - North Dakota Century Code Title 26.1. Insurance § 26.1-34.2-04. Compliance mitigation--Enforceability--Penalty - last updated January 01, 2024 | https://codes.findlaw.com/nd/title-26-1-insurance/nd-cent-code-sect-26-1-34-2-04/

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