Misrepresentation of Policy

It is unlawful for an insurer, broker, agent, or solicitor to cause or permit to be issued, circulated or used, any misrepresentation of the following:

(a)The terms of a policy issued by the insurer or sought to be negotiated by the person making or permitting the misrepresentation;

(b)The benefits or privileges promised thereunder;

(c)The future dividends payable thereunder.