Mass. Gen. Laws ch. 176W § 7
Current through Chapter 223 of the 2024 Legislative Session
Any insurer failing, without just cause, to timely file the CGAD as required pursuant to this chapter shall, after notice and hearing, be subject to a penalty of $500 for each day of delay, to be recovered by the commissioner. The maximum penalty under this section shall be $10,000. The commissioner may reduce the penalty if the insurer demonstrates to the commissioner that the imposition of the penalty would constitute a financial hardship to the insurer.
Mass. Gen. Laws ch. 176W, § 7