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Pennsylvania Statutes Title 40 P.S. Insurance § 627-4. Compliance mitigation

Current as of January 01, 2025 | Updated by Findlaw Staff

(a) Corrective actions.--An insurer is responsible for compliance with this article. If a violation occurs, either because of the action or inaction of an insurer or its producer, the commissioner may order:

(1) An insurer to take reasonably appropriate corrective action for any consumer harmed by a failure to comply with this article by the insurer, an entity contracted to perform the insurer's supervisory duties or by the producer.

(2) Deleted by 2018, June 28, P.L. 351, No. 48, § 5, effective in 180 days [Dec. 26, 2018].

(3) An exclusive general agent or the producer to take reasonably appropriate corrective action for any consumer harmed by the licensee's violation of this article.

(4) Penalties and remedies under section 406-B.  1

(b) Reduction of penalty.--Any applicable penalty permitted under section 406-B for a violation of this article may be reduced or eliminated if corrective action for the consumer was taken promptly after a violation was discovered or the violation was not part of a pattern or practice.

1 40 P.S. § 627-6.
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Cite this article: FindLaw.com - Pennsylvania Statutes Title 40 P.S. Insurance § 627-4. Compliance mitigation - last updated January 01, 2025 | https://codes.findlaw.com/pa/title-40-ps-insurance/pa-st-sect-40-627-4/

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