§ 23-63-1314 - Penalties and liabilities. - Arkansas Statutes

23-63-1314. Penalties and liabilities.

(a) If the Insurance Commissioner finds after a hearing conducted in accordance with 23-61-301 et seq. that any insurer or person has violated any provision of this subchapter, the commissioner may order:

(1) For each separate violation, a penalty in an amount of one thousand dollars ($1,000.00) or, if the commissioner has found willful misconduct or willful violation, five thousand dollars ($5,000.00); and

(2) Revocation or suspension of the insurer's or person's license.

(b) The decision, determination or order of the commissioner pursuant to subsection (a) of this section shall be subject to judicial review pursuant to 23-61-307.

(c) Nothing contained in this section shall affect the right of the commissioner to impose any other penalties provided for in the insurance laws.