IRDA : Insurance Surveyor and Loss Assessor License Online

Name of the Organization : Insurance Regulatory and Development Authority (irda.gov.in)
Type of Facility : Insurance Surveyor and Loss Assessor License Online
Location : Hyderabad

Website : http://www.irda.gov.in/Defaulthome.aspx?page=H1

Online Surveyor Licensing System :
A surveyor and loss assessor is an insurance intermediary licensed by IRDA to investigate, manage, quantify, validate and deal with losses (whether insured or not) arising from any contingency, on behalf of insurer or insured and report thereon and carry out the work with competence, objectivity and professional integrity by strictly adhering to the code of conduct stipulated under the Law/Regulations.

General services provided by a Surveyor and Loss Assessor :
** Investigate, manage, quantify, validate and deal with losses (whether insured or not) arising from any contingency
** Estimate, measure and determine the quantum and description of the subject under loss
** Conduct inspection and re-inspection of the property in question suffering a loss
** Conduct spot and final surveys, as and when necessary and comment upon franchise, excess/under insurance and any other related matter
** Advise insurer and insured about loss minimisation, loss control, security and safety measures

How can I get registered as a Surveyor and Loss Assessor?
A) Application for License :
Any applicant (Individual or Corporate) intending to get Licensed as a Surveyor and Loss Assessor, needs to first register itself on the IRDA BAP portal.

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B) Consideration of Application :
The Authority shall, before granting licence, take into consideration all matters relating to the duties, responsibilities and functions of surveyor and loss assessor and satisfy itself that the applicant is a fit and proper person to be granted a licence.

Some considerations are as follows :-
(1) Satisfies all the applicable requirements of section 64UM read with section 42D of the Act and rule 56A of the Insurance Rules, 1939;
(2) Possesses such technical qualifications as may be specified by the Authority from time to time;
(3) Has furnished evidence of payment of fees for grant of licence, depending upon the categorisation;
(4) Has undergone a period of practical training, not exceeding 12 months, as contained in Chapter VII of these regulations; and
(5) Furnishes such additional information as may be required by the Authority from time to time.

Furnishing of information, clarification and personal representation :
The authority may require an applicant to furnish any further information or clarification for the purpose of disposal of the application, and, thereafter, in regard to any other matter as may be deemed necessary by the Authority.
The applicant or its principal officer shall, if so required, appear before the Authority for a personal representation in connection with an application.

Application to conform to the requirements :
An application, not complete in all respects and not conforming to the instructions specified in the regulations, shall be rejected : Provided that, before rejecting any such application,
the applicant shall be given a reasonable opportunity to complete the application in all respects and rectify the errors, if any.

Fee Structure :
Sr. No.| Cateogory |Amount Payable by Individuals (Rs) |Amount Payable by Corporate (Rs)
1| A| Rs. 10,000/- (Ten thousand)| Rs.25,000/- (Twenty-five thousand)
2| B| Rs. 7,000/- (Seven thousand)| Rs. 20,500/- (Twenty thousand five hundred)
3| C| Rs. 5,000/- (Five thousand)| Rs.15,000/- (Fifteen thousand)

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Contact Details :
Insurance Regulatory and Development Authority
3rd Floor, Parisrama Bhavan, Basheer Bagh HYDERABAD 500 004
Andhra Pradesh (INDIA )