§431:10D-624 - Mitigation of responsibility. - Hawaii Statutes

     [§431:10D-624]  Mitigation of responsibility.  (a)  The commissioner may order:

     (1)  An insurer to take reasonably appropriate corrective action for any consumer harmed by the insurer's, or by its insurance producer's, violation of this part;

     (2)  An insurance producer to take reasonably appropriate corrective action for any consumer harmed by the insurance producer's violation of this part; and

     (3)  A general agency or independent agency that employs or contracts with an insurance producer to sell or solicit the sale of annuities to consumers, to take reasonably appropriate corrective action for any  consumer harmed by the insurance producer's violation of this part.

     (b)  Any penalty applicable to an insurer, a managing general agent, independent agencies, or a producer under article 13 of chapter 431 for a violation of section 431:10D-623(a), (b), and (c) may be reduced or eliminated if corrective action for the consumer was taken promptly after a violation was discovered. [L 2007, c 257, pt of §2]