What is the maximum penalty for an individual who unknowingly violates Virginia insurance law?

The maximum penalty for an individual who unknowingly violates Virginia insurance law is indeed $1,000 for each violation, with an overall cap of $10,000. This structure is designed to provide a balanced approach to enforcement, recognizing that unintentional infractions should not lead to overly harsh consequences. The rational behind such a penalty framework is to promote compliance and understanding of the law among individuals without providing excessive punitive measures for those who may not have been aware of their infractions. This approach encourages individuals to adhere to insurance regulations while also providing a means for regulatory bodies to impose penalties that serve as a deterrent against non-compliance.