The
Authority had vide its Notification No. BRO/ORD/020/June-04
dated 8.6.04, suspended the insurance broking license of M/s. Mass Insurance
Brokers Pvt. Ltd. ( No. 188/DB-155/03) for violating Regulation 26 of
IRDA (Insurance Brokers) Regulations, 2002. Thereafter,
the broking company has complied with the provisions of the regulations
and has vide its representations dated 11.6.04 and 12.7.04 apologized
for violating Regulation 26 of IRDA (Insurance Brokers) Regulations,
2002 and has undertaken to ensure strict compliance with the rules and
regulations in future and further to maintain highest professional and
ethical standards in the conduct of insurance broking business.
On
thorough examination of the matter and considering the assurances of
the broking company, it has been decided that M/s. Mass Insurance Brokers
Pvt. Ltd. should
be given a second opportunity and therefore the above suspension order
is revoked with immediate effect. |
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