What is the minimum fine that may be imposed in California for an insurance producer’s second violation of the duty of honesty, good faith and fair dealing he or she owes to prospective insureds age 65 or older?

Question

1. $5,000
2. $2,500
3. $1,000
4. $500

Answer 1

In California, the minimum fine that may be imposed for an insurance producer’s second violation of the duty of honesty, good faith, and fair dealing owed to prospective insureds age 65 or older is $5,000. Therefore, the correct answer is:

1. $5,000