§ 27-71-11. Fines and penalties.
(a) Fines and penalties levied pursuant to this chapter or other provisions of the general laws shall be consistent, reasonable and justified.
(b) The commissioner shall take into consideration actions taken by insurers that maintain membership in best-practice organizations that exist to promote high ethical standards of conduct in the marketplace, and insurers that self-assess, self-report and remediate problems detected to mitigate fines levied pursuant to this chapter.
History of Section.P.L. 2008, ch. 72, § 1; P.L. 2008, ch. 233, § 1.
Structure Rhode Island General Laws
Chapter 27-71 - Market Conduct Surveillance Act
Section 27-71-1. - Short title.
Section 27-71-2. - Purpose — Legislative intent.
Section 27-71-3. - Definitions.
Section 27-71-4. - Domestic responsibility and deference to other states.
Section 27-71-5. - Market analysis procedures.
Section 27-71-6. - Protocols for market conduct actions.
Section 27-71-7. - Protocols for targeted market conduct examinations.
Section 27-71-8. - Confidentiality requirements.
Section 27-71-9. - Market conduct surveillance personnel.
Section 27-71-10. - Immunity for market conduct surveillance personnel.
Section 27-71-11. - Fines and penalties.
Section 27-71-12. - Data collection and participation in national market conduct databases.
Section 27-71-13. - Coordination with other states through the NAIC.
Section 27-71-14. - Additional duties of the commissioner.
Section 27-71-15. - Cost of market analysis and examination.