EXTRAORDINARY

PART III—Section 4

PUBLISHED BY AUTHORITY

NEW DELHI, WEDNESDAY, MAY 17, 2017

INSURANCE REGULATORY AND DEVELOPMENT AUTHORITY OF INDIA
NOTIFICATION

Hyderabad, the 5th May, 2017

Insurance Regulatory and Development Authority of India

(Insurance Surveyors and Loss Assessors) (First Amendment) Regulations, 2017

F. No. IRDAI/Reg/7/144/2017 – In exercise of the powers conferred by Sections 42D, 42E, 64UM and 11 4A of the Insurance Act, 1938 read with 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 amendments to Insurance Regulatory and Development Authority of India (Insurance Surveyors and Loss Assessors) Regulations, 2015, namely:

1. Short title and commencement: –

A. These regulations may be called Insurance Regulatory and Development Authority of India (Insurance Surveyors and Loss Assessors) (First Amendment) Regulations, 2017.

B. They shall come into force on the date of their publication in the Official Gazette.

2. In the Insurance Regulatory and Development Authority of India (Insurance Surveyors and Loss Assessors) Regulations, 2015

A. In Reg. 3(2)(c), after the words Їis exempt from taking examination once again stated under 3(2)(c) above‖, the words Їsubject to Reg.3(8)(c)‖ shall be inserted.

B. After Reg.3(8)(b), a new clause (c) shall be inserted as under:

Reg. 3 (8)(c): The application for license shall be submitted within a period of 5 years from the date of enrolment after meeting the requirements. Provided that those who have enrolled as trainees with the Authority as on the date of notification of these Regulations, shall apply for license after meeting the requirements within one year from the date of notification or 5 years from the date of enrolment, whichever is later.

C. Reg. 6(3) (a)(v) shall be amended as under:

Proof of qualification (notarized) or categorization letter issued by the Authority stating the eligible Departments in accordance with the categorization made vide IRDA/Order/SLA/30/3/2002 dated 30th March, 2002.

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D. Reg. 17(3) shall be substituted as under:

The licensed surveyor who provides training should have held a valid license to act as Surveyor and Loss Assessor in that particular department for the last 8 years.

E. Reg. 17(6) shall be amended as under:

(6) If a Surveyor and Loss Assessor already licensed by the Authority seeks to obtain a similar license for acting as a surveyor in a department of general insurance business other than for which he has been licensed, he shall undergo a period of training of not less than six months under a licensed Surveyor and Loss Assessor holding a valid license to act in that particular Department for the last 8 years.

F. Annexure-1 to Schedule I shall be amended as under:

SCHEDULE–I

Annexure-1

IRDAI (Insurance Surveyors and Loss Assessors) Regulations, 2015

Qualification Criteria for Enrolment and Licensing of Surveyors and Loss Assessors (Regulation 3)

S.No Department Academic/technical/Professional/Insurance Qualifications
1. Fire B.E./ B. Tech./ B.Sc. (Engg.)/ A.M.I.E. or its equivalent, C.A./ I.C.W.A., A.I.I.I./ F.I.I.I./Post Graduate Diploma in Insurance from IIRM
2. Marine Cargo B.E./ B.Tech./ B.Sc. (Engg.)/ A.M.I.E. or its equivalent thereof (Marine Engineering/ Naval Architecture),/ certificate of competency as Master of Ship or as First Class Marine Engineer issued by a recognized authority, Degree or diploma in Naval Architecture of a recognized University or Institute./ A.I.I.I./ F.I.I.I./ C.A./I.C.W.A /Post Graduate Diploma in Insurance from IIRM;
3. Marine Hull B.E./ B.Tech./ B.Sc. (Engg.)/ A.M.I.E. or its equivalent thereof (Marine Engineering/ Naval Architecture)/ certificate of competency as Master of Ship or as First Class Marine Engineer issued by a recognized authority,
4. Engg. B.E./ B.Tech./ B.Sc. (Engg.)/ A.M.I.E. or its equivalent , Diploma of 3 years duration from a recognised institution or its equivalent thereof
5. Motor B.E./ B.Tech./ B.Sc. (Engg.)/ A.M.I.E. or its equivalent thereof (Mechanical/ Automobile); Diploma in Mechanical Engineering/ Automobile Engineering of 3 years duration from a recognised institution or its equivalent thereof ;
6. Miscellaneous B.E./ B.Tech./ B.Sc. (Engg.)/ A.M.I.E. or its equivalent; Diploma of 3 years duration from a recognised institution or its equivalent; C.A./ I.C.W.A.; A.I.I.I./ F.I.I.I./ Post Graduate Diploma in Insurance from IIRM;
7. LOP C.A./ I.C.W.A; A.I.I.I./ F.I.I.I
8. Crop Insurance B. Sc. in Agricultural Science from a recognised University

Note:

1. In order to qualify for enrolment and licensing, an applicant should have secured a degree or diploma of a recognized Institute after attending full time course as a regular student or part time course with equivalency certificate issued by the respective Institute/University.

Provided in case of courses viz. A.M.I.E; C.A./ I.C.W.A and A.I.I.I./F.I.I.I., course completion certificate is treated as valid qualification.

2. All technical Degree/Diploma stated above shall be obtained from

a. AICTE approved Institutions or

b. Universities recognized by University Grants Commission or

c. institutions of national importance recognized by Ministry of Human Resources Development (MHRD).

G. Reg. 21(4) shall be amended as under:

Half-yearly report as per the Form-IRDAI-19 prescribed under Schedule II of these regulations as under within 45 days from the end of the half year.

Schedule II*

Form IRDAI-19

Regulation 21 (4)

REPORT ON SURVEY JOBS FOR THE HALF YEAR ENDING ON 31st MARCH, ______/ 30th September______

Name of the General Insurer:
No. of inhouse employee surveyors as on reporting date
Sl. No. Line of Business No. of
claims
reported
No. of claims
which required
appointment of
surveyor as per
SLA regulations
Surveys
undertaken by in
house employee
surveyors
Surveys undertaken by other
than in house employee
surveyors
Individual Corporate
1 Fire
2 Marine Cargo
3 Marine Hull
4 Engineering
5.a Motor cashless
5.b Motor other than cash less
6 Miscellaneous as per SLA Regulations
7 LOP (Loss of Profits)
8 Crop
Total :

I hereby solemnly acknowledge that the details provided above are true to the best of my knowledge.

Date :

*Form IRDAI-19 is inserted to Schedule II.

Authorized Signatory

T.S. VIJAYAN, Chairman

[ADVT. III/4/Exty/69/17]

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