SB 0107 Regulates investigations by Dept. of Insurance
Committee:INSULR Number:S0044.02I
Last Action:02/15/95 - Voted Do Pass S Insurance & Housing Committee
Effective Date:August 28, 1995
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Current Bill Summary

SB 107 - This act limits the actions which the Director of the Department of Insurance can take against insurance agents, brokers and companies until a violation has been found against those entities.

Insurance investigations shall be carried on in a manner to avoid interrupting the business involved. Publications regarding investigations are limited. The Director of Insurance may not attempt to prevent a licensed agent or broker from working in the insurance business until a violation has been found against the agent or broker. Insurance agents, brokers and companies shall have a cause of action against the director for violations of this act. They may recover up to twice the amount of damages, plus attorney fees, costs and expenses.