State RegulationsFL specificDifficulty 2/5
In an OIR proceeding, a Florida insurer faces an administrative penalty in lieu of license revocation for a willful unfair-trade-practice violation. Under Fla. Stat. 624.4211, what is the maximum penalty per violation?
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Answer & full 3-part explanation (select an option above, or peek)
Why A is correct
Under Fla. Stat. 624.4211, when the OIR proceeds against an insurer, each willful violation may draw an administrative penalty of up to $100,000 in lieu of revocation (nonwillful violations are capped at $12,500), plus restitution with interest at 12% per year. Chapter 2023-172 raised these from $5,000/$40,000 to $12,500/$100,000, so the older textbook figures are no longer the law in Florida.
Why the other options are wrong
- B) $40,000 is the pre-2023 willful ceiling; chapter 2023-172 raised it to $100,000.
- C) $12,500 is the ceiling for a nonwillful violation, not a willful one.
- D) $50,000 is the nonwillful same-action aggregate cap, not the per-violation willful amount.
Memory hook
Company-level willful: $100K under 624.4211.