Section 104, The Insurance Act, 2016

No advertisement shall be issued by an insurer or by anagent licensed under section 73 which directly or by implication has the tendency to mislead or deceive prospective policy-holders with respect to the assets, corporate -structure, financial standing, age or relative position in the insurance business or any other material respect of insurer or the agent as the case may be, or of any competitor of the insurer or agent.