Section 71: Obligations of an insurer in relation to insurance agents

71. Obligations of an insurer in relation to insurance agents (1) An insurer shall maintain at its principal place of business and display in a conspicuous place to which the public has access, a list of all its insurance agents, and provide the Commission on demand with a copy of such list. (2) An insurer shall notify forthwith the Commission of any violation of this Act, the FSC Rules or guidelines committed by its insurance agent and of which it has knowledge. (3) An insurer shall notify the Commission of any termination of appointment of an insurance agent— (a) within 14 days of the date of termination; and (b) of the reasons for the termination. (4) Notwithstanding any obligation under a contract relating to confidentiality, no disclosure made by an insurer, acting in good faith, under subsections (2) and (3) shall give rise to any criminal or civil action against the insurer. [S. 71 amended by s. 21 of Act 16 of 2007 w.e.f. 28 September 2007.]