Any person, partnership, or corporation wilfully violating any provision of this chapter or order of the Commissioner made in accordance with this chapter shall pay an administrative penalty to the people of the State a sum not to exceed $750.00 for each such violation. The Commissioner may also suspend or revoke the license of an insurer or agent for any such wilful violation. (Amended 1995, No. 167 (Adj. Sess.), § 9.)