Texas Insurance Code

§ 751.351 — SANCTIONS

IN § 751.351Title 5. PROTECTION OF CONSUMER INTERESTS · Part G. REGULATION OF INSURER MARKET CONDUCT · Ch. 751. MARKET CONDUCT SURVEILLANCE · Art. H. SANCTIONS

Statute text

View on source

(a)The commissioner may impose sanctions under Chapter 82 against an insurer determined, as a result of a market conduct action or other action under this chapter, to have violated this code, a rule adopted under this code, or another insurance law of this state.

(b)In determining an appropriate sanction under Subsection (a) the commissioner shall consider:

(1)any actions taken by the insurer to maintain membership in, and comply with the standards of, best-practice organizations that promote high ethical standards of conduct in the insurance marketplace; and

(2)the extent to which the insurer maintains regulatory compliance programs to self-assess, self-report, and remediate problems detected by the insurer.

Legislative history

Added by Acts 2005, 79th Leg., Ch. 291 (S.B. 14), Sec. 3, eff. September 1, 2005.