Chapter 04. Penalties
Regulation .01 Scope.LinkCopy Citation
These regulations apply in any instance in which the Insurance Commissioner intends to impose a financial penalty.
Regulation .02 Requirements.LinkCopy Citation
In determining the amount of the financial penalty to be imposed, the Commissioner shall consider the following:
A.
The seriousness of the violation;
B.
The good faith of the violator;
C.
The violator's history of previous violations;
D.
The deleterious effect of the violation on the public and the insurance industry; and
E.
The assets of the violator.
Chapter annotations
Authority: Insurance Article, §§2-108, 2-109, and 2-201, Annotated Code of Maryland
History: Effective date: August 24, 1987 (14:17 Md. R. 1871)
History: Chapter recodified from COMAR 09.30.81 to COMAR 31.02.04 effective September 7, 1998 (25:18 Md. R. 1439)