Section 404-B. Compliance mitigation. (Hdg. amended Dec. 22, 2021, P.L.472, No.99)
(a) Corrective actions.--An insurer is responsible for compliance with this article. If a violation occurs, either because of the action or inaction of an insurer or its producer, the commissioner may order:
(1) An insurer to take reasonably appropriate corrective action for any consumer harmed by a failure to comply with this article by the insurer, an entity contracted to perform the insurer's supervisory duties or by the producer.
(2) ((2) deleted by amendment June 28, 2018, P.L.351, No.48).
(3) An exclusive general agent or the producer to take reasonably appropriate corrective action for any consumer harmed by the licensee's violation of this article.
(4) Penalties and remedies under section 406-B.
((a) amended Dec. 22, 2021, P.L.472, No.99)
(b) Reduction of penalty.--Any applicable penalty permitted under section 406-B for a violation of this article may be reduced or eliminated if corrective action for the consumer was taken promptly after a violation was discovered or the violation was not part of a pattern or practice.
(404-B amended June 28, 2018, P.L.351, No.48)