The commissioner may suspend or revoke the permission granted any insurer in Section 10205.5 if, after notice and hearing in accordance with Chapter 5 of Part 1 of Division 3 of Title 2 of the Government Code, he finds that the insurer has:
(a) Misrepresented the conditional nature of the coverage;
(b) Neglected or refused either to cancel or otherwise terminate such coverage within the time required by such section;
(c) Delivered any such memorandum which did not comply with subsection (a) (2) of Section 10205.5;
(d) Shown a lack of diligence in making revisions in the policy necessary to obtain its approval by the commissioner;
(e) Failed so often in so many important respects in drafting any such policy to conform to the applicable requirements of the Insurance Code that a conclusion of lack of good faith or competency in drafting is reasonably justified;
(f) Circulated announcements of coverage to individuals insured which failed to advise them of the conditional nature of the coverage; or
(g) In any other manner so negligently or carelessly handled the effecting of insurance under Section 10205.5 or the administration thereof that the policyholder or the persons insured have been misled or exposed to the danger of loss.
(Added by Stats. 1953, Ch. 624.)
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