(a) The Commissioner may examine and investigate the affairs of a person engaged in the business of insurance in the District of Columbia to determine whether the person has been or is engaged in an unfair trade practice, an unfair method of competition, or an unfair or deceptive action practice under this chapter. The Commissioner may suspend or revoke the license or certificate of authority for a person that violates this chapter or a rule or regulation adopted under this chapter, or fails to comply with an order of the Commissioner.
(b)(1) The Commissioner may enforce this chapter, or any rules and regulations adopted under this chapter, by issuing an order:
(A) To cease and desist from the violation and further similar violations; and
(B) Requiring the violator to correct the violation, including the restitution of money or property to a person aggrieved by the violation.
(2) If a violator fails to comply with an order issued under paragraph (1) of this subsection, the Commissioner may impose a civil penalty of up to $1,000 for each violation from which the violator failed to cease and desist or which the violator failed to correct.
(c) The Commissioner may request the Corporation Counsel of the District of Columbia (“Corporation Counsel”) take appropriate action in the Superior Court of the District of Columbia (“Superior Court”) for the enforcement of an order issued under this section. The Corporation Counsel may also seek, and the Superior Court may order or decree, damages and other relief allowed by law, including restitution. In an action brought by the Corporation Counsel under this section, the Corporation Counsel may be awarded attorney's fees and costs.
(d) In determining the amount of financial penalty to be imposed under subsection (b) of this section, the Commissioner shall consider the following:
(1) The seriousness of the violation;
(2) The good faith of the violator;
(3) The violator's history of previous violations;
(4) The deleterious effect of the violation on the public and the insurance industry;
(5) The assets of the violator; and
(6) Any other factor relevant to the determination of the financial penalty.
CREDIT(S)
(Apr. 3, 2001, D.C. Law 13-265, § 122, 48 DCR 1225.)
HISTORICAL AND STATUTORY NOTES
Legislative History of Laws
For D.C. Law 13-265, see notes following § 31-2231.01.