What is the penalty for failing to comply with proof of insurance requirements?

The penalty for failing to comply with proof of insurance requirements is indeed $500. This fine is established to encourage compliance with mandatory insurance regulations, ensuring that security businesses maintain adequate insurance coverage to protect both employees and clients. Having valid insurance is essential for safeguarding against potential liabilities that may arise during security operations. Therefore, understanding this penalty emphasizes the importance of maintaining insurance and compliance with state regulations in the Texas Private Security Bureau framework. The specific amount signifies the seriousness with which the authorities regard compliance in this area.