Section 24 in Insurance Regulatory and Development Authority of India (Insurance Web Aggregators) Regulations, 2017
24. Action against a person acting as an Insurance Web Aggregator without a valid registration.
(a)From the date of commencement of these Regulations no person can function as a Web Aggregator unless a certificate of registration has been granted to him by the Authority under these Regulations.(b)No insurer shall engage any person as insurance Web Aggregator who is not registered with the Authority.(c)Notwithstanding and without prejudice to initiation of any criminal proceedings against any person, who acts as an Insurance Web Aggregator without holding a valid registration made under these regulations and against the insurer who engages a Web Aggregator not granted certificate of registration by the Authority, the Authority may invoke against such a person penal action under the Act or any other law for the time being in force.(d)Where the person falling under sub-regulation (a), is a company or firm or body corporate, without prejudice to any other proceedings which may be taken by the Authority against the company or firm or body corporate, every director, manager, secretary or other officer of the company or body corporate, and every partner of the firm, who is knowingly a party to such a contravention shall also be liable to be proceeded against.
