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​Indiana Notary Association

Advocates for networking, education and notary laws in Indiana.
Mission:
The mission of the Indiana Notary Association is to promote excellence in notary services throughout the State of Indiana and to become a primary resource for notaries throughout the state through education, networking and legislative advocacy to support what is in the best interest of Indiana's citizens and Notaries public.
To learn more to Indiana Notary Assocation

 

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Letter from the IDOI


"NOTICE OF CIVIL PENALTY CALCULATIONS FOR UNLICENSED AGENCIES AND INDIVIDUALS WHO ENGAGE IN THE BUSINESS OF INSURANCE

February 24, 2014

This letter provides notice to the insurance industry generally, and all insurance producers in particular, of the method the Indiana Department of Insurance (the “Department”) shall use for determining the appropriate civil penalty for unlicensed persons engaging in the business of insurance. The term “unlicensed person” includes those who have never held an insurance producer license as well as anyone whose insurance producer license was suspended or revoked during any relevant period.

The Department regulates insurance producers pursuant to Ind. Code § 27-1-15.6 et seq. A person shall not sell, solicit, or negotiate insurance unless that person is licensed for that line of authority. Ind. Code § 27-1-15.6-3. Violation of any of the provisions of Indiana insurance law may subject the violator to disciplinary action to include imposition of a civil penalty. Ind. Code §27-1-15.6-12.

Effective immediately, in addition to other appropriate actions, the Department will impose civil penalties on any person selling, soliciting, or negotiating insurance without being properly licensed. Fines may range up to and including ten thousand dollars ($10,000.00) and will depend on such factors as the number of policies sold and the amount of commissions generated. Penalties will be increased if the person was selling, soliciting, or negotiating insurance while their license was suspended or revoked by the Department. In addition to a civil penalty, commissions generated by unlicensed activity are subject to forfeiture up to and including one hundred percent (100%).

This notice does not limit or supersede either the Department or the Commissioner’s authority to regulate the business of insurance."

 

 

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