What is the penalty for intentionally violating a Cease and Desist order?

The penalty for intentionally violating a Cease and Desist order is established to ensure compliance with regulatory guidelines and protect consumers. In New Jersey, the fines associated with such violations emphasize the seriousness with which regulators view noncompliance, particularly when there is an intent to disregard the order.

By determining the penalty as $5,000, the state underscores the importance of adhering to regulatory directives and acts as a deterrent against future violations. This amount reflects an appropriate level of financial consequence designed to encourage individuals and entities to follow the legal mandates set forth by the regulatory authority. The specificity of the penalty serves to demonstrate the commitment of the state to uphold the integrity of the insurance industry and protect consumer interests from unethical practices.