Section 74, The Insurance Act, 2016

(1) An insurance agent or chief agent shall work for theinsurer or insurers specified in the licence issued under section 73 to work paragraph (2) If, for any reason, an insurance agent or chief agent wishes to terminate his association with any insurer and work for another he may apply to the Commission to amend the licence in this behalf . (3) The Commission may, after satisfying itself that the holder of a licence does not owe any amount to the insurer , grant the application.