10. My agent made some false statements which induced me to buy insurance from him. Can I terminate the policy and ask for a refund of the premiums?
An insurance agent shall not, with the aim of concluding the deal with you, make any inaccurate or misleading statements about his/her insurance company or the policies issued by the company.
As the agents' employers, the insurance companies are also vicariously liable for the acts of their agents. Furthermore, under the Code of Conduct for Insurers (Part IV: Management of Insurance Agents, Paragraph 34), insurers should not exclude or limit their liability for the actions of their agents acting in the course of their agency.
Previously, we discussed the legal principle of the parties having to deal in utmost good faith. In the example in question, the insurance company through its agent has acted in bad faith. This fact gives you the right to avoid the policy (i.e. you can cancel the policy and ask for a refund of the premiums that you have paid).