Section 27-1-4.1-13 - Failure to timely file; penalty; reduction(a) An insurer that fails, without just cause (as determined by the commissioner), to timely file a CGAD as required by this chapter shall, after notice and hearing under IC 4-21.5, pay a civil penalty of one hundred dollars ($100) for each day of noncompliance, not to exceed ten thousand dollars ($10,000).(b) The commissioner may reduce a penalty imposed under subsection (a) if the insurer demonstrates to the commissioner that the imposition of the penalty would constitute a financial hardship to the insurer.(c) A civil penalty collected under this section shall be deposited in the department of insurance fund established by IC 27-1-3-28.Added by P.L. 146-2015, SEC. 19, eff. 7/1/2015.