Ohio National Financial Services, Annuities

If the commissioner believes an agent or insurer has violated this article, the commissioner will notify the violator of the intent to assess administrative penalties, the time and place of the hearing, and the suspected violation. The hearing will be held within 30 days after the notice is served.

Agent Penalties

Any broker, agent, or other person who violates this article is liable for administrative penalties of:

No less than $1,000 for the first violation.
No less than $5,000 or more than $50,000 for the second and each subsequent violation.

In addition, the Insurance Commissioner may suspend a violator's license for up to three years.

Insurer Penalties

Any insurer violating this article is liable for an administrative penalty of $10,000 for the first violation.

Insurers violating this article as a general business practice (or knowingly violating this article) are liable for administrative penalties of no less than $30,000 and no more than $300,000 for each violation.

Ohio National is not affiliated with, nor does it endorse or sponsor, any particular prospecting, marketing or selling system.