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Texas Insurance Code - INS § 751.351. Sanctions

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

(a) The commissioner may impose sanctions under Chapter 82 against an insurer determined, as a result of a market conduct action or other action under this chapter, to have violated this code, a rule adopted under this code, or another insurance law of this state.

(b) In determining an appropriate sanction under Subsection (a) the commissioner shall consider:

(1) any actions taken by the insurer to maintain membership in, and comply with the standards of, best-practice organizations that promote high ethical standards of conduct in the insurance marketplace;  and

(2) the extent to which the insurer maintains regulatory compliance programs to self-assess, self-report, and remediate problems detected by the insurer.

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Cite this article: FindLaw.com - Texas Insurance Code - INS § 751.351. Sanctions - last updated January 01, 2024 | https://codes.findlaw.com/tx/insurance-code/ins-sect-751-351/

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