What is the penalty for selling insurance without a valid license in Indiana?

In Indiana, selling insurance without a valid license carries significant consequences. The penalties can include fines, cease and desist orders, and even potential criminal charges. This reflects the seriousness with which the state views the unauthorized practice of insurance, which is designed to protect consumers from unqualified individuals offering financial products. A cease and desist order would essentially require the individual to stop the illicit practice immediately, while criminal charges could lead to a more severe legal impact, including possible jail time depending on the specifics of the offense.

These measures serve as strong deterrents to ensure that only qualified and licensed individuals can sell insurance products, safeguarding the interests of consumers and maintaining the integrity of the insurance market.