IRDA had issued surveyor regulations, to regulate the profession of insurance surveyors & loss assessors in the year 2015. It was said the regulation may be revised every three years i.e in year 2018, as per requirements of the time. So after passing of three years, iRDA set up a working group to re-draft the regulations & the WG has come up with new recommendations o the subject, which have been been submitted to to the chairman of insurance regulatory authority for the approval.
The regulations covers the topics of classification of surveyors, eligibility norms to be an insurance surveyor & loss assessor, duties / responsibilities of surveyor, code of conduct for surveyors & Framework and Practices relating to Survey and Loss Assessment. In addition there recommendation for obligations of insurers.
Some changes in regulations 2015, are about waiving of one training requirements to be eligible for the professional. As per regulations 2015, a candidate has to complete 12 months practical training, pass exams, obtain IIISLA membership and then seek the license. The WG members are of the opinion that the requirement of practical training is to be waived in new regulations as it does not seem to serve the purpose that was envisaged. The regulations were supposed to be amended in year 2018 but now may be implemented in the year 2019, subject to the approval of the chairman, insurance regulatory authority of india.
Read more: WG recomendations detail
Insurance surveyors & loss assessor Regulations 2019 notification by IRDA