Section 43 of IA : Section 43: Register Of Insurance Agents

Explanation using Example

Imagine a scenario where "SafeHeaven Insurance Ltd." hires a new insurance agent named John Doe on January 1, 2023. According to Section 43 of The Insurance Act, 1938, SafeHeaven Insurance Ltd. is required to maintain a record that includes John's name, address, and the date his appointment began, which is January 1, 2023. If John decides to leave the company on December 31, 2025, the company must then update this record to include the cessation date of his appointment. Furthermore, SafeHeaven Insurance Ltd. is obligated to keep this record on file until December 31, 2030, which is five years after John's appointment ended, to comply with the law.