Section 36 in Insurance Regulatory and Development Authority of India (Insurance Web Aggregators) Regulations, 2017
36. Action against the Insurer.
- An insurer shall be liable for action by the Authority as provided under the provisions of the Act, the IRDA Act, 1999 (41 of 1999) and the relevant Regulations made thereunder, if:(a)The Insurer fails to comply with the Obligations of insurers as outlined in Form Z (Obligations of Insurers) of Schedule XI of these Regulations; or(b)An Insurer fails to furnish any information or furnishes wrong information to the Authority relating to the agreement and transactions with Insurance Web Aggregator; or(c)An Insurer fails to comply with these Regulations and such other directions issued by the Authority from time to time:Provided that no such action shall be initiated by the Authority and order passed thereafter without giving an opportunity of hearing to the Insurer.
