You are viewing the translated version of कसुर; (१) देहाय बमोजिमको काम कारबाहीलाई यस ऐन बमोजिम कसुर गरेको मानिनेछ.
Section 140
offense; (1) The following actions shall be considered as offenses under this Act
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(a) In case of doing insurance business without obtaining a license as per section 24,
(b) Acting as an insurance intermediary or other insurance service provider without obtaining a license under section 90,
(c) if an insurer pays an insurance claim with or without complicity with an insurance intermediary or other insurance service provider or any other party in relation to insurance or by preparing false statements or documents,
(d) if an insured obtains payment of an insurance claim, whether or not with an insurance intermediary or other insurance service provider or other party, by engaging in any fraud related to the insurance or by submitting false statements or documents or not,
(e) If an insurance surveyor, while assessing the damage, overestimates, underestimates or wrongly assesses the damage in a selfish or malicious manner, causing loss to the insurer or the insured.
(G) Insurer's employee, officer: or any other person when issuing insurance policy, assessing damage to insured property and liability, paying insurance claim or committing any irregularity or misappropriation of funds during insurance, business operations,
(h) If any director, officer, chief executive, employee or other person commits irregularities during the merger of the insurer or during the merger, acquisition, liquidation or audit,
(i) If any person commits an offense under clauses (a) to (j) or in any way assists in the commission of such offence.
(2) If any officer or employee of a foreign insurer transfers any property of such branch office to another country without obtaining the approval of the authority or by submitting false statements, except in the course of the regular business of the branch office, if he gives authority to do so, or if he does any act that helps or contributes to such action, It will be considered as an offense according to the law.
(a) In case of doing insurance business without obtaining a license as per section 24,
(b) Acting as an insurance intermediary or other insurance service provider without obtaining a license under section 90,
(c) if an insurer pays an insurance claim with or without complicity with an insurance intermediary or other insurance service provider or any other party in relation to insurance or by preparing false statements or documents,
(d) if an insured obtains payment of an insurance claim, whether or not with an insurance intermediary or other insurance service provider or other party, by engaging in any fraud related to the insurance or by submitting false statements or documents or not,
(e) If an insurance surveyor, while assessing the damage, overestimates, underestimates or wrongly assesses the damage in a selfish or malicious manner, causing loss to the insurer or the insured.
(G) Insurer's employee, officer: or any other person when issuing insurance policy, assessing damage to insured property and liability, paying insurance claim or committing any irregularity or misappropriation of funds during insurance, business operations,
(h) If any director, officer, chief executive, employee or other person commits irregularities during the merger of the insurer or during the merger, acquisition, liquidation or audit,
(i) If any person commits an offense under clauses (a) to (j) or in any way assists in the commission of such offence.
(2) If any officer or employee of a foreign insurer transfers any property of such branch office to another country without obtaining the approval of the authority or by submitting false statements, except in the course of the regular business of the branch office, if he gives authority to do so, or if he does any act that helps or contributes to such action, It will be considered as an offense according to the law.