Revocation or Cancellation of a Licence
- TPA is functioning improperly and/or against the interests of the insured/policyholder or insurance company;·
- The financial condition of the TPA has deteriorated and that the TPA cannot function effectively or that the TPA has committed a breach of regulations.
- The character and ownership of the TPA has changed significantly since the grant of licence;
- The licence or any renewal thereof was on the basis of fraud or misrepresentation of facts;
- There is a breach in following the procedure or acquiring the qualifications
- The TPA is subject to winding up proceedings made under Companies Act, 1956
- There is a breach of code of conduct prescribed by regulation 21 of these regulations;
- There is violation of any directions issued by the Authority
| ←Previous Code of Conduct | Agreement with Insurance Companies Next→ |
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