INSURANCE SURVEYORS AND LOSS ASSESSORS (LICENSING, PROFESSIONAL REQUIREMENTS AND CODE OF CONDUCT) (AMENDMENT) REGULATIONS, 2013 - AMENDMENT IN REGULATIONS 2, 3, 4, 5, 7, 8, 9, 11, 13, 14, 15, 16, 17, 18, 19, 20 & SCHEDULE AND INSERTION OF REGULATIONS 12A, 14(A), 20A, 20B AND 20C
NOTIFICATION NO. IRDA/REG./18/76/2013,
In exercise of the powers conferred by sections 42D, 64UM and 114A of the Insurance Act, 1938 (4 of 1938) read with sections 14 and 26 of the Insurance Regulatory and Development Authority Act, 1999 (41 of 1999), the Authority, in consultation with the Insurance Advisory Committee, hereby makes the following regulations, to further amend the Insurance Surveyors and Loss Assessors (Licensing, Professional Requirements and Code of Conduct) Regulations, 2000, namely:-
1. (i) These regulations may be called the Insurance Surveyors and Loss Assessors (Licensing, Professional Requirements and Code of Conduct) (Amendment) Regulations, 2013
(ii) They shall come into force on the date of their publication in the Official Gazette.
3. LICENSING PROCEDURE
(i) Regulation 3, is substituted by the following:
(ii) Regulation 4, is substituted by the following:
(1) Application for grant of fresh corporate license and related matters
The Authority on being satisfied that the applicant is eligible for grant of license, shall grant the same in Form IRDA-4-LF as given in the Schedule to these Regulations, indicating the department and membership level of the corporate surveyor. Such membership level shall be the highest level at which the corporate surveyor can function.
(iii) Regulation 5, is substituted by the following:
The fee payable to the Authority by fresh applicants for grant of licence to act as surveyors and loss assessors, membership level wise, shall be as stated in the following table:
(iv) Regulation 7 is substituted by the following:
I. In case of Individual:
II. In case of corporate surveyors:
(3) The Authority on being satisfied that the applicant is eligible for renewal of license, shall renew the same
(4) The application for renewal of license shall be processed taking into account the eligibility criteria, existing, including those set out under Regulation 3A, at the time of receipt of such application.
(v) Regulation 8 is substituted by the following:
Procedure where application for grant of license is rejected:
Procedure where application for renewal of license is refused:
(vi) Regulation 9 is shifted and inserted as Regulation 20A, 20B & 20C.
4. CONSTITUTION AND FUNCTIONS OF SURVEYORS AND LOSS ASSESSORS COMMITTEE
Appointment of Surveyors and Loss Assessors
5. DUTIES AND RESPONSIBILITIES OF A SURVEYOR AND LOSS ASSESSOR
(i) Sub-Regulation 3 of Regulation 13 is substituted by the following:
"A surveyor or loss assessor whether appointed by insurer or insured, shall submit his report to the insurer as expeditiously as possible, but not later than 30 days of his appointment, with a copy of the report to the insured giving his comments on the insured's consent or otherwise on the assessment of loss. Where, in special circumstances of the case, either due to its special and complicated nature, the surveyor shall under intimation to the insured, seek an extension, in any case not exceeding six months from the insurer for submission of his report.
If an insurer, on the receipt of a survey report, finds that it is incomplete in any respect, he shall require the surveyor under intimation to the insured, to furnish an additional report on such incomplete issues as may be required by the insurer. Such a request may be made by the insurer within 15 days of the receipt of the original survey report.
Provided that the facility of calling for an additional report by the insurer shall not be resorted to more than once in the case of a claim.
The surveyor on receipt of this communication shall furnish an additional report within three weeks of the date of receipt of communication from the insurer".
6. CATEGORISATION OF SURVEYORS
Functions of the Institute
(1) The Institute shall grant appropriate membership to person eligible, within 15 days from the date of receipt of application for membership, for grant of a valid license to be issued by the Authority to act as a surveyor and loss assessor based on the following criteria, including any other criteria as may be specified by the Authority from time to time:
Licentiate - 100 hrs
Associate - 50 hrs
Fellow - 25 hrs
Licentiate - 5
Associate - 8
Fellow - 10
Provided further that all existing licensed surveyors and loss assessors shall become the members of the institute within 6 months from the date of these regulations and apply to IRDA for grant of modified license indicating the level of membership to be allotted by the institute :
Provided further that such members shall be required to comply with the requirements on training, evaluation, seminars and workshops for upgrading their existing levels of membership within the time limit as may be prescribed by the Authority from time to time.
(2) The Authority may from time to time issue such guidelines, directions or such other communication for the efficient conduct of the affairs of the institute.
CODE OF CONDUCT
(i) Sub-Regulation (11) of Regulation 15 substituted as under:
maintain a register of survey work, containing the relevant information, such as, details of insured, insurer, policy number, date of allocation of survey work, date of submission of survey report, amount of claims assessed, such fee details and shall keep important records of the survey reports, photographs and other important documents for a period of three years and furnish the same and such other specified returns, as and when called for by the Authority or by any investigating authority or the insurer. However, in case of litigation involving above information/records/documents/photographs etc., the same shall be maintained till the conclusion of the litigation.
(i) New Sub-regulation nos. (15), (16), (17) & (18) inserted under Regulation 15 as follows:
Every surveyor and loss assessor shall-
8. Chapter VII-Practical Training renamed as "TRAINEE APPLICANTS"
(i) Regulation 16 is substituted by the following:
16 (1) A student member seeking a license to act as a surveyor and loss assessor shall apply and enroll with Authority as Trainee in FORM-IRDA-13 as given in the Schedule to these regulations, after having obtained the willingness to impart training from his trainer in FORM-IRDA-14 as given in the schedule to these regulations, and shall undergo a period of practical training of not less than twelve months with a licensed surveyor and loss assessor as specified below:
(1A) During the period of training, every applicant who is a student member of the Institute and enrolled as trainee shall comply with the code of conduct and code of ethics prescribed by the Institute and duly approved by IRDA and shall have include the following:
(2) The surveyor under whom an trainee will be trained shall belong to Associate or Fellow member of the Institute
(3) The trainee shall maintain a quarterly record of training received in FORM-IRDA-15 during the period and shall get it certified by the surveyor and loss assessor under whom he has trained and the certificate in FORM-IRDA-16 shall be attached to the application for seeking grant of a license under regulation 3;
(3)A. The requirement to undergo practical training for a period not less than 12 months as stated under Regulation 16(1) shall not be applicable to those student members who have over 15 years of experience in areas relating to risk management and settlement of claims in relevant field in General Insurance Industry.
The licence to be granted to an applicant to act as a surveyor and loss assessor shall be in that particular area for which he has been trained;
(4) If a surveyor and loss assessor already licensed by the Authority seeks to obtain a similar licence for acting as a surveyor in a category other than for which he is licensed, he shall undergo a period of training not less than six months under a surveyor and loss assessor holding either a Fellow or Associate member licence issued by the Authority to act in that particular area.
(5) Those who have already enrolled as trainees with IRDA shall become the student member of the Institute in addition to complying with the criteria set out in Regulation 3 for grant of license to act as surveyor and loss assessor.
(ii) In Regulation 17 the word "Authority" shall be replaced by "Institute" after the words "the examination may be conducted either by the...". The regulation shall read as under:
The Authority may also prescribe the passing by an applicant of an examination on the successful completion of the training prescribed above for the grant of a license under Regulation 3. The examination may be conducted either by the Institute or by an institution authorized by IRDA.
Register of Licensed Insurance Surveyors and Loss Assessors
The Authority may cause the publication of the relevant particulars entered in the register, as may be considered appropriate by it, at such intervals and in such manner, as may be deemed fit.
Submission of returns by Surveyor and Loss Assessor -.
(ii) Regulation 19 substituted as under:
Every licensed surveyor and loss assessor shall:-
Sub-regulation (3) of Regulation 20 is being substituted as follows:
A surveyor and loss assessor shall provide the information demanded by the inspecting authority for the purpose of carrying out inspection/investigation and extend all possible co-operations to facilitate the conduct of its work.
(iv) Action in case of Default - Suspension of License
Regulation 9 on Suspension of License shifted and substituted as 20A as follows:
Cancellation of license
(v) A New Regulation 20B inserted as follows:
Procedure for suspension and cancellation of license
(vi) A New regulation as 20C inserted as follows: