Pre-contract disclosure by insurance intermediary
35P.—(1)  No insurance intermediary shall invite any person to make an offer or proposal to enter into a contract of insurance without disclosing to the person all material information, including —
(a)the name of the licensed insurer;
[Act 11 of 2013 wef 18/04/2013]
(b)his relationship with the licensed insurer;
[Act 11 of 2013 wef 18/04/2013]
(c)the premium charged by the licensed insurer; and
[Act 11 of 2013 wef 18/04/2013]
(d)such other information as the Authority may prescribe or specify in directions.
[23/2003 wef 01/01/2004]
[41/2001]
(2)  No insurance intermediary shall arrange any group policy for 2 or more persons where any person insured under the group policy is liable to pay the premium without disclosing to every person insured under the group policy all material information, including —
(a)the name of the licensed insurer;
[Act 11 of 2013 wef 18/04/2013]
(b)his relationship with the licensed insurer;
[Act 11 of 2013 wef 18/04/2013]
(c)the conditions of the group policy;
(d)the premium charged by the licensed insurer; and
[Act 11 of 2013 wef 18/04/2013]
(e)such other information as the Authority may prescribe or specify in directions.
[23/2003 wef 01/01/2004]
[41/2001]
(2A)  Any insurance intermediary who contravenes subsection (1) or (2) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $25,000 or to imprisonment for a term not exceeding 12 months or to both.
[23/2003 wef 01/01/2004]
(3)  In this section, “insurance intermediary” includes the group policy owner of any group policy.
[41/2001]