What is the maximum amount the Commissioner can fine an insurer for each violation of a cease and desist order?

The maximum amount that the Commissioner can fine an insurer for each violation of a cease and desist order is indeed $10,000. This amount reflects the serious nature of such violations, which can undermine the integrity of the insurance market and the protections afforded to consumers. The purpose of imposing such a significant fine is to deter insurers from non-compliant behavior and to ensure adherence to regulations that promote fair practices.

The amount is clearly established in the statutes governing insurance operations, highlighting the importance of regulatory enforcement in maintaining consumer trust and industry standards. In contrast, smaller fines would likely be less effective as deterrents and might not convey the severity of the potential consequences of failing to comply with cease and desist orders.