Senate Bill 1345 Summary

• Director of the Department of Insurance may impose administrative penalties up to $1,000 and suspend licenses for up to 12 months, or revoke/refuse licenses for insurance producers, title agents, adjusters, and surplus lines brokers for specified violations.

• Added new violation ground (o): compensating, employing or soliciting any incarcerated person in a courthouse, jail or prison for the purpose of referring business to the licensee.

• Director may suspend nonresident licenses without a hearing if a final suspension, revocation or refusal order is received from the licensee's home state, with successive suspensions allowed after 12 months if cause continues.

• Business entity licenses may be suspended, revoked or refused if owners, officers or managers knew or should have known of an individual licensee's violation and failed to report it or take corrective action.

• Director retains enforcement authority against unlicensed persons or those whose licenses have lapsed or been surrendered who are under investigation for violations of insurance law or department rules.