Regulatory default action permits disciplinary measures against IIOs for noncompliance, market harm, or public-interest concerns. Disciplinary action may be taken against an IIO whose operations fail to comply with applicable legal requirements or whose activities are adverse to the ... Summary
Regulatory default action permits disciplinary measures against IIOs for noncompliance, market harm, or public-interest concerns.
Disciplinary action may be taken against an IIO whose operations fail to comply with applicable legal requirements or whose activities are adverse to the insurance market or public interest. Available measures include suspension or cancellation of the certificate of registration, after allowing the IIO an opportunity to make submissions. Other appropriate action may also be taken under applicable laws.
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