Section 120: Prohibitions on use of certain words

120. Prohibitions on use of certain words (1) No person shall, without the approval of the Commission, apply to his business or undertaking a name or description which includes the word “insure”, “reinsure”, “assure” or “underwrite” or any derivative thereof. (2) Where the proposed name of an applicant under section 10, or a translation, shortened form or derivative thereof— (a) is identical to that of another insurer; (b) is identical to that under which another insurer was previously licensed and reasonable grounds exist for objection to its use by the person concerned; or (c) is misleading or undesirable, the Commission may require the applicant to adopt another name which does not offend the provisions of this subsection.