95. Register of Policies

Every insurer, and broker shall maintain a register of policies in such form as may be determined by the Board by rules made in that behalf, which shall contain—

details of every policy issued, giving the name and address of the policy holder ;

the date on which the policy was issued and the policy number ;

the amount of premium received and commission paid to insurance agents and brokers ;

the sum insured and the date of commencement of the policy ;

particulars of claims made and dates on which such claims were paid and the amounts paid ; and

in the event of a claim being repudiated, reasons for such repudiation and in the event of partial settlement, the reasons therefor.