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ANNUAL REPORT 2011-12
respect of a loss which has occurred in India and
requiring to be paid or settled in India equal to or
exceeding `20,000 in value on any policy of insurance,
arising or intimated to an insurer at any time after the
expiry of a period of one year from the commencement
of the Insurance (Amendment) Act, 1968 (62 of 1968),
shall, unless otherwise directed by the [Authority], be
admitted for payment or settled by the insurer unless
he has obtained a report, on the loss that has occurred,
from a person who holds a license issued under this
section to act as a surveyor or loss assessor” (hereafter
referred to as “approved surveyor or loss assessor”).
II.2.10 The provisions of the Act clearly indicate that
to settle a loss of `20,000 and above (except for those
classes of insurance where a survey by a licensed
surveyor and loss assessor is exempted by Government
of India through its notifi cation dated 5 th May, 1970)
under a policy of general insurance, a report submitted
by any person licensed to act as surveyor and loss
assessor is essential. Thus, any individual (whether
employed or not), possessing the requisite qualification
and upon fulfi lling the provisions laid down in the Act,
is eligible for grant of license to act as surveyor and
loss assessor. Further, a group of individuals having
requisite qualifications as stated under Section 64 UM
can also form a company or a partnership fi rm and
obtain license to act as corporate surveyor and loss
assessor/or fi rm.
II.2.11 Since 1978, the Controller of Insurance was the
“Authority” to grant surveyor licenses. With the
enactment of IRDA Act, in 1999, IRDA was made the
Authority to grant surveyor licenses and the power to
grant and regulate surveyors, is now vested with the
IRDA.
II.2.12 IRDA grants license to individuals and
companies / firms to act as Surveyors and Loss
Assessors. The Insurance Surveyors and Loss
Assessors (Licensing, Professional Requirements and
Code of Conduct) Regulations, 2000 lay down the
process of application for procurement of license.
During 2011-12, the Authority has enrolled eligible
applicants as trainees and issued fresh licenses to
trainee surveyors who had successfully completed 12
months of practical training and successfully cleared
the requisite examinations. The Authority also renewed
licenses during 2011-12 after fulfilment of all the
TABLE II.6
NUMBER OF LICENSES ISSUED TO SURVEYORS
AND LOSS ASSESSORS
April 2011 to
March 2012
April 2012 to
June 2012
Fresh licenses
Individual 189 27
Corporate 14 3
Renewals
Individual 1557 368
Corporate 7 10
Trainee Enrolments 598 146
regulatory requirements. The details of trainee
enrolments, grant of fresh and renewal license to
individuals and corporates during the period April 2011
to March 2012 and April 2012 to June 2012 are given
in the Table II.6.
II.2.13 Recently, the Authority vide its Order No. IRDA/
NL/ORD/MISC/161/07/2012 dated 24 th July, 2012 has
reconstituted the Committee of Surveyors and Loss
Assessors, as provided under Regulation 11 of IRDA
Surveyor Regulations, 2000, consisting of officials of
the Authority, representatives of the non-life industry,
President (IIISLA) and a representative of the
policyholders.
II.2.14 The term of the Committee is for a period of
three years from the date of its constitution and it shall
advise the Authority in implementation of (i) removal in
restriction of departments, (ii) upgradation of categories
of licensed surveyors and other related issues, and (iii)
carry out such functions as are referred to in Regulation
12 of IRDA Surveyor Regulations, 2000.
Grievances - Surveyors and Loss Assessors
II.2.15 Surveyor Licensing Department of the Authority
receives grievances from policyholders against
surveyors/surveyors firms either directly or through the
Grievance Cell of the Authority. Grievance were
received mostly on matters relating to non receipt of
survey report copy, delay in issuance of survey report,
misconduct, violation of IRDA Surveyor Regulations,
etc. Such complaints are forwarded to insurers for
their examination for taking regulatory action on
surveyors for misconduct, violation of act and
regulatory provisions, if any observed and reported by
the insurers.
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