Hawaii Insurance Adjuster License Practice Exam

How often can a monetary penalty be applied for continued violations under the Hawaii Insurance Code?

1. Once per year

2. Once per month

3. Daily

4. Only at the end of the violation

The correct answer is: Daily

A monetary penalty for continued violations under the Hawaii Insurance Code can be imposed daily. This reflects the understanding that each day that a violation continues constitutes a separate occurrence, allowing regulators to enforce compliance effectively. By applying the penalty on a daily basis, the regulatory framework promotes accountability among insurance professionals and encourages prompt remediation of any identified issues or violations. This approach not only serves as a deterrent against ongoing non-compliance but also ensures that violations do not persist without consequence, thereby protecting consumers and maintaining industry standards within Hawaii’s insurance market. The other options do not align with the regulatory intent to promptly address and rectify violations in a timely manner.