Insurance Order, 2006 · As enacted
Section 49
Official textFrom Attorney General's Chambers, unchanged
No insurance intermediary shall invite any person to make an offer or proposal to enter into a contract of insurance without disclosing to the person all material information, including -
insurance intermediary
"insurance intermediary" means a person who, as an agent for one or more insurers or as an agent for insured or intending insured, arranges contracts of insurance;
{a) the name of the registered insurer;
registered insurer
"registered insurer" means an insurer which has been registered by the Authority under this Order;
{b)
his relationship with the registered insurer;
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{c) the premium charged by the registered insurer; and
such other information as may be prescribed or specified in directions.
Any person who fails to comply with this section shall be guilty of an offence and shall be liable on conviction to a :ftne not exceeding $10,000, imprisonment for a term not exceeding 6 months or both.
Insurance intermediary in insurance transactions.
Terms defined in s 2
insurance intermediary
Defined · s 2"insurance intermediary" means a person who, as an agent for one or more insurers or as an agent for insured or intending insured, arranges contracts of insurance;
registered insurer
Defined · s 2"registered insurer" means an insurer which has been registered by the Authority under this Order;