Idaho § 41-1940D ANNUITY CONSUMER PROTECTION — COMPLIANCE MITIGATION

Idaho Statutes

§ 41-1940D — ANNUITY CONSUMER PROTECTION — COMPLIANCE MITIGATION

Idaho·Title 41 INSURANCE·Ch. 19 LIFE INSURANCE POLICIES AND ANNUITY CONTRACTS

An insurer is responsible for compliance with the annuity consumer protections act. If a violation occurs, either because of the action or inaction of the insurer or its producer, the director may order:

(1)An insurer to take reasonably appropriate corrective action for any consumer harmed by a failure to comply with this regulation by the insurer, by an entity contracted to perform the insurer’s supervisory duties, or by the producer;

(2)A general agency, an independent agency, or the producer to take reasonably appropriate corrective action for any consumer harmed by the producer’s violation of this regulation; and

(3)Appropriate penalties and sanctions.

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An insurer is responsible for compliance with the annuity consumer protections act. If a violation occurs, either because of the action or inaction of the insurer or its producer, the director may order:
(1) An insurer to take reasonably appropriate corrective action for any consumer harmed by a failure to comply with this regulation by the insurer, by an entity contracted to perform the insurer’s supervisory duties, or by the producer;
(2) A general agency, an independent agency, or the producer to take reasonably appropriate corrective action for any consumer harmed by the producer’s violation of this regulation; and
(3) Appropriate penalties and sanctions.

Idaho § 41-1940D (ANNUITY CONSUMER PROTECTION — COMPLIANCE MITIGATION) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.