What is the maximum civil penalty for each violation of solicitation by an unauthorized insurer?

The maximum civil penalty for each violation of solicitation by an unauthorized insurer is indeed set at $25,000. This aligns with guidelines established to regulate insurance practices and ensure that all insurers operating within a state are properly authorized and compliant with legal requirements. Such penalties are designed to discourage unauthorized solicitation, which can undermine the insurance market and consumer protections.

In the context of Washington State, the amount reflects a balance between creating a significant deterrent for unauthorized practices while still being manageable for regulatory enforcement. This legal framework is aimed at maintaining the integrity of the insurance industry and protecting consumers from potential fraud or misrepresentation.

Understanding the specific penalties is crucial for insurance brokers and agents to ensure that they operate within the legal parameters set by state laws. This knowledge helps maintain compliance and safeguards both their business and consumers from the risks associated with unauthorized insurers.