What may the director impose for every violation of the state's insurance laws?

The director has the authority to impose both fines and suspensions as penalties for every violation of the state's insurance laws. This dual approach allows the regulatory body to address violations with a range of consequences, ensuring that the penalties are appropriate to the severity of the infraction. Fines are commonly used to deter misconduct and ensure compliance, while suspensions serve as a more serious consequence, removing individuals or entities from engaging in insurance-related activities for a specified period. This combination enables the director to maintain the integrity of the insurance market and uphold the standards set forth in the state's laws.