What fine may the Hawaii Insurance Commissioner impose for unfair acts?

The fine that the Hawaii Insurance Commissioner may impose for unfair acts is up to $500 for each violation. This reflects the regulatory framework established to maintain fair practices within the insurance industry, protecting consumers from deceptive or unfair business practices. The specified amount is designed to act as a deterrent against such behaviors while still allowing for enforcement of compliance.

Higher penalties, like $1,000 or $5,000 for each violation, would be less common in this context and are not aligned with the established fine structures in Hawaii's insurance regulations. The option indicating a total fine for all violations denotes a cumulative approach rather than addressing individual violations, which does not fit the principle of assigning a fine per each specific unfair act. By setting the penalty at this level, the regulation aims to balance significant deterrence against unfair practices while also considering the nature of insurance business operations.