No insurance company, association, or exchange, and no member, officer, director, or attorney-in-fact thereof, or any other person in its behalf, shall make any misrepresentation or incomplete comparison of policies, oral, written, or otherwise, to any person insured in any company, association, or exchange, for the purpose of inducing or tending to induce a policyholder in any company, association, or exchange to lapse, forfeit, or surrender his insurance therein, and to take out a policy of insurance in another company, association, or exchange insuring against similar risks.
40 P.S. § 473