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§ 710-18. Violations

Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 40 P.S. Insurance

Purdon's Pennsylvania Statutes and Consolidated Statutes
Title 40 P.S. Insurance (Refs & Annos)
Chapter 2. Insurance Companies (Refs & Annos)
Article V-a. Property and Casualty Filing Reform (Refs & Annos)
40 P.S. § 710-18
§ 710-18. Violations
Currentness
(a) A person or organization shall not wilfully1 withhold information affecting the rates or premiums chargeable under this article from or knowingly give false or misleading information to the commissioner, a statistical agency designated by the commissioner or an advisory organization. A violation of this section shall be punishable under subsection (b).
(b) Upon satisfactory evidence of a violation of any section of this article by any person or insurer, one (1) or more of the following penalties may be imposed at the commissioner's discretion:
(1) Suspension or revocation of a license.
(2) Refusal for a period not to exceed one (1) year to issue a new license to the offending insurer or other persons.
(3) A fine of not more than five thousand dollars ($5,000) for a violation of this article.
(4) A fine of not more than ten thousand dollars ($10,000) for a wilful violation of this article.
(5) A fine of not more than ten thousand dollars ($10,000) for a violation of subsection (a).
(6) A fine of not more than twenty-five thousand dollars ($25,000) for a wilful violation of section 516-A.
(c) Fines imposed against an individual insurer under this article shall not exceed five hundred thousand dollars ($500,000) in the aggregate during a single calendar year.

Credits

1921, May 17, P.L. 682, No. 284, art. V-A, § 518-A, added 1998, Dec. 21, P.L. 1108, No. 150, § 3, effective in 60 days.

Footnotes

1
“willfully” in enrolled bill.
40 P.S. § 710-18, PA ST 40 P.S. § 710-18
Current through Act 10 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
End of Document