What is the penalty for violating the Insurance Information and Privacy Protection Act for violations committed regularly?

The penalty for violating the Insurance Information and Privacy Protection Act, particularly when violations are committed regularly, is a significant fine of $50,000. This is designed to enforce compliance with the law, which aims to protect the personal information of individuals and ensure that insurance companies handle such information responsibly. The substantial amount reflects the seriousness of maintaining privacy standards within the insurance industry and serves as a deterrent against repeated violations. Regular violations indicate a pattern of disregard for these privacy protections, hence the higher penalty to reinforce the importance of adhering to the requirements set forth in the Act.