Insurance Surveyor and Loss Assessor Registration in India

Insurance Surveyors and Loss Assessors are service providers who are licensed by the Insurance Regulatory and Development Authority (IRDA) for carrying out a survey when an insurance claim is made and estimating the losses incurred in case of an accident or unforeseen event. These service providers serve as a link between the insurance company and the insured. They are expected to do their job independently without being influenced by both parties. 

Insurance Surveyors and Loss Assessor Registration is the authorization provided by the IRDA to individuals who want to act as surveyors and loss assessors. There are two types of registration:

 

Eligibility Criteria for IRDA Insurance Surveyor and Loss Assessor Registration in India

Qualification: The qualification required from a surveyor or a loss assessor varies depending upon the types of insurance claims they are hired to handle. Additionally, they must be a "Member of Institute" such as ICAI, ICSI, or IIRM or possess specific technical, academic, professional, and insurance qualifications that make them eligible to apply for Surveyor and Loss Assessor.

Examination: Clearing relevant paper(s) of the Insurance Claim Surveyor and Loss Assessor is important. The Insurance Institute of India conducts the exam.

Training: Surveyor in insurance must go through training specified by IRDA from time to time.

Infrastructure: For registration as a corporate surveyor, the applicant has to be a Company incorporated under the companies act or an LLP incorporated under the Limited Liability Partnership Act.

Documents Required for IRDA Insurance Surveyor and Loss Assessor Registration in India

Document required for Surveyor and Loss Assessor certificate

• Certificate of Incorporation, MOA, AOA/ LLP Agreement (In case of corporate surveyor application)
• Application in the Form as may be specified, duly complete in all respects
• Recent passport size photo
• PAN card
• Address Proof
• Proof of Qualification
• Marks sheet in support of having passed the Surveyor and Loss Assessor Examination and Training completion certificate
• Declaration-cum-Undertaking in the Format as specified by the Authority
• Membership Certificate issued by the Institute
• Fit and Proper statement in the Format as specified by the Authority
• Evidence of fee payment as specified
• Any other document/information that the Authority may require from time to time

Disclosures

• Every Registered licensed Surveyor and Loss Assessor must submit a declaration stating that they will file any changes in the information submitted to the Authority within 15 days of such change. After filing, they will apply for the grant of a modified license. The license issued by the Authority must be surrendered at the time of Application for grant of modified license.
• Every licensed Surveyor and Loss Assessor must submit such information as required by the Authority from time to time.
• The applicant must pay the non-refundable processing fees as specified under the Act's regulations.

Process for IRDA Insurance Surveyor and Loss Assessor Registration in India

 

The Registration process of  the IRDA Licensed Surveyor and Loss Assessor with the IRDA for acting as exclusively insurance intermediaries is as follows:

Step 1: Getting all the Necessary Documents Ready

You must make sure you have all the mandatory documents ready before filing for the application with IRDA. The mandatory documents include Certificate of Incorporation, PAN Card, Address Proof, Proof of Qualification, etc. Without having all the required documents, your application might get rejected or delayed.

Step 2: Submission of the Surveyor and Loss Assessor Application with IRDA

Once all the documents are ready, you must file an online application for surveyor and loss assessor license with IRDA. The application must be filled correctly. In case of any discrepancies or errors, the application process might get delayed.

Step 3: Examination of the Application by IRDA

Once the application has been received by the insurance industry regulator, it will carefully examine it along with all the submitted documents.

Step 4: IRDA’s Approval for Surveyor and Loss Assessor Registration

If IRDA is satisfied with the application, it will grant the surveyor and loss assessor license. The Authority will grant the license online in the Form IRDAI-2-LF given in the Regulations mentioning membership number and the particular class or department or subject of general insurance business, namely, fire, engineering, marine cargo, marine hull, loss of profit, motor, crop and miscellaneous. The physical copy of the license will be issued only on request.

Registrationwala's Assistance in Obtaining Insurance Surveyor License

Our experts provide you end to end IRDA Surveyor and Loss Assessor services that entail:

• Consultation
• Initial assessment and advice
• Documentation Assistance
• Application filing
• Department follow up
• Removal of any issue during the procedure

You need a loss assessor to determine the truthfulness of any claims. You can start verifying it today by taking a step towards licensed surveyor registration.

 

Related Services

Insurance Broker License | ISNP License | Corporate Agent License

Frequently Asked Questions:

Q.1 Can I modify my surveyor license to change my name and address?

Yes, you can change the name and address if you hold a valid surveyor license.

Q.2 What is the meaning of a lapsed surveyor license?

A lapsed surveyor license is the license which is not renewed within the prescribed time limit of 6 months from the date of expiry of license. This surveyors application should be treated as fresh application

Q.3 What is the Validity of insurance surveyor license?

The granted insurance surveyor license will be valid for a period of 3 years.

Q.4 When a license grant application gets rejected?

The application for grant of the license can be rejected on the following grounds:

• In case the applicant does not confirm with the provisions of the Act and its Regulations.
• In case the Authority believes that the license grant is not in the interest of the policyholders. But before rejecting any such application, the applicant must be given a reasonable opportunity of being heard.

Q.5 What to do When Application gets Rejected?

• The rejection of the Application must be communicated to the applicant within thirty days of such rejection, stating the grounds for rejection.
• Any applicant aggrieved by the decision of the Authority can appeal to Securities Appellate Tribunal within forty-five days from the date on which he receives a copy of the order.