What is the maximum fine for an agent found guilty of fraud in Indiana?

In Indiana, when an insurance agent is found guilty of committing fraud, the law stipulates that the maximum fine that can be imposed is up to $10,000 for each violation. This amount serves as a significant deterrent against fraudulent activities within the insurance industry, underscoring the seriousness with which such acts are regarded. The fine structure allows for more substantial penalties to be levied on agents who engage in dishonest practices, thereby protecting consumers and maintaining the integrity of the insurance system. Understanding this fine structure is essential for agents operating in Indiana, as it informs them of the serious legal ramifications associated with fraudulent behavior.