What penalty is imposed for transacting insurance without proper licensing in Idaho?

In Idaho, the penalty for transacting insurance without the proper licensing can include an administrative penalty not to exceed $15,000. This severe consequence underscores the state's commitment to maintaining regulatory standards in the insurance industry and ensuring that all agents operate under the necessary legal guidelines. By imposing a financial penalty, Idaho seeks to deter individuals from engaging in unauthorized insurance activities, thereby protecting consumers and the integrity of the insurance market.

The other choices present scenarios that do not align with the established penalties for licensing violations. A maximum penalty of $5,000 is not reflective of the regulations in place, and while being a new agent may come with some leniency regarding certain practices, it does not exempt individuals from the requirement of obtaining proper licensure. Additionally, the idea of a permanent loss of insurance selling privileges, while serious, is not the primary immediate consequence outlined for the violation of operating without a license, as the administrative penalty is the main focus in this context.