What are the possible consequences of a wilful violation of a rule made by the director?

A willful violation of a rule made by the director in an insurance context can lead to severe consequences, notably including the suspension or revocation of the individual's license. This reflects the serious nature of such violations, as they undermine regulatory integrity and consumer trust in the insurance system. Regulatory authorities prioritize maintaining high standards within the industry, and actions that demonstrate a disregard for established rules are dealt with decisively.

Suspending or revoking a license serves not only as a punitive measure but also as a deterrent to prevent future violations by both the individual involved and others in the industry. This approach emphasizes the importance of compliance with regulations designed to protect consumers and ensure fair practices within the insurance sector. Other options, like fines or training, may be applicable in different contexts but do not encompass the full breadth of consequences that can arise from a willful violation of regulatory rules.