Is there a fining program for the WCRB Financial Calls?
Yes. A delinquent Acknowledgement Form or any delinquent Financial Calls are assessed a $50 per business day fine each day the Form/Call is delinquent. The maximum fine will not exceed $5,000, per call, per licensed company, regardless of whether a carrier has elected to file their calls on a group basis. Any carrier failing to comply, after notification of delinquency by the Bureau, will be referred to the Office of Commissioner of Insurance for further action.
