The Department of Insurance is a Regulatory Body, with the ability to fine insurers for violations of the Code. In most instances, they do negotiate with the companies to make some type of restitution or refund to the consumers. If an agent is out of Trust, they work diligently to see that consumers are refunded, etc. Many of those that work for the CDI are insurance professionals with a great deal of experience in the industry and with the Department. They are fair and very effective. This legislation is not needed.
The Department of Insurance is a Regulatory Body, with the ability to fine insurers for violations of the Code. In most instances, they do negotiate with the companies to make some type of restitution or refund to the consumers. If an agent is out of Trust, they work diligently to see that consumers are refunded, etc. Many of those that work for the CDI are insurance professionals with a great deal of experience in the industry and with the Department. They are fair and very effective. This legislation is not needed.