Section 34 in Insurance Regulatory and Development Authority of India (Insurance Web Aggregators) Regulations, 2017
34. Action against the Insurance Web Aggregator.
(a)The Authority may cancel the Certificate of registration granted to an Insurance Web Aggregator or take any other action as deemed appropriate under the Act, in case the Insurance Web Aggregator fails to exercise due diligence or comply with any of the obligations under these Regulations or act contrary to the provisions of the Act, IRDA Act, 1999, the rules and regulations framed thereunder and such other directions as 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 Insurance Web Aggregator except for suspension without notice as per Regulation 33.
