44-1542 Director; cease and desist order; other orders; authorized. - Nebraska Statutes

44-1542. Director; cease and desist order; other orders; authorized.If, after the hearing, the director finds an insurer has engaged in an unfair claims settlement practice, he or she shall reduce his or her findings to writing and shall issue and cause to be served upon the insurer charged with the violation a copy of the findings and an order requiring the insurer to cease and desist from engaging in the act or practice and he or she may order any one or more of the following:(1) Payment of a monetary penalty of not more than one thousand dollars for each violation, not to exceed an aggregate penalty of thirty thousand dollars, unless the violation was committed flagrantly and in conscious disregard of the Unfair Insurance Claims Settlement Practices Act, in which case the penalty shall not be more than fifteen thousand dollars for each violation, not to exceed an aggregate penalty of one hundred fifty thousand dollars; and(2) Suspension or revocation of the insurer's license or certificate of authority if the insurer knew or reasonably should have known it was in violation of the act. SourceLaws 1991, LB 234, § 24.