Section 8(i) in The Insurance Regulatory And Development Authority (Appointed Actuary) Regulations, 2000
(i)informing the authority in writing of his or her opinion, within a reasonable time, where-(i)the insurer has contravened the Act or any other Acts;(ii)the contravention is of such a nature that it may affect significantly the interest of the owners or beneficiaries of policies issued by the insurer;(iii)the directors of the insurer have failed to take such action as is reasonably necessary to enable him to exercise his or her duties and obligations under this regulation; or(iv)an officer or employee of the insurer has engaged in conduct calculated to prevent him or her exercising his or her duties and obligations under this regulation.
