What is the maximum fine per violation for violations committed knowingly?

The maximum fine for violations committed knowingly is $25,000. This figure reflects the serious nature of knowingly committing violations in the insurance industry and serves as a deterrent against such actions. When violations are committed with knowledge, it indicates a deliberate disregard for the rules and regulations, which can lead to significant penalties.

The amount of $25,000 is consistent with regulations in various jurisdictions, where fines for knowing violations are significantly higher than those for unintentional violations. This approach underscores the importance of compliance in the insurance sector, protecting consumers and maintaining trust in the industry.