What is the minimum monetary penalty for violating any provision of the Hawaii Insurance Code?

The minimum monetary penalty for violating any provision of the Hawaii Insurance Code is set at 100 dollars. This stipulation serves to uphold compliance within the insurance industry, ensuring that individuals and entities follow the laws and regulations that govern insurance practices in Hawaii.

A penalty of 100 dollars, while a minimum, reflects a level of seriousness regarding adherence to the code, which is critical for maintaining fair practices and protecting consumers. The increment of penalties often scales with the severity and nature of the violation, underscoring the importance of regulatory compliance.

Understanding this minimum penalty is essential for anyone involved in the insurance field in Hawaii, as it helps to reinforce the necessity of adhering to established regulations and serves as a warning against non-compliance.