Laws and sections by number or title, due dates, pages, and updates.
All individual and corporate surveyors and loss assessors must disclose specific information and the status of any proceedings to the Authority within 15 days from the date of the circular. The disclosure requirement applies if the surveyor faces investigations, disciplinary proceedings, warnings, or reprimands from any regulatory authority. It also applies if the surveyor faces investigations by any Government department or agency, or if the surveyor faces findings of guilt for violating rules, regulations, or legislative requirements by revenue authorities. Failure to furnish this information constitutes a violation of the Surveyor Regulations and attracts necessary regulatory action.
What you must do
Key dates
Who is affected
If you do not comply
Ask about this circular
[Image omitted. See the official document.]
Ref.IRDA/SUR/CIR/MISC/118/08/2018
03rd August, 2018
CIRCULAR
To all Individual/Corporate Surveyors
Disclosure of information/details under Fit & Proper norms under Reg. 13(1) (b) of IRDAI (Insurance surveyors and Loss Assessors Regulations), 2015
Attention is drawn to the Chapter II Licensing Procedure Reg. 3 and Reg. 4 of IRDAI (Insurance surveyors and Loss Assessors Regulations), 2015 which includes "fit & proper criteria" for consideration of the application by Authority and granting of license. The Authority, while considering the application for grant of license as a Surveyor and Loss Assessor, takes 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 license. The fit and proper criteria norms shall be applicable to both the individual license holders as well as corporate license holders.
Further, the duties and responsibilities prescribed under Regulation 13(b) of IRDAI (Insurance surveyors and Loss Assessors Regulations), 2015 clearly mandates the Surveyor and loss Assessor (Individual/Corporate) to bring to the notice of the Authority any change in the information or particulars furnished at the time of issuance of license, within a period not exceeding fifteen days from the date of occurrence, that has a bearing on the license granted by the Authority. In this regard, it is hereby clarified that furnishing of any change in information/particulars furnished at the time of issuance of license, also, includes, with regard to status of unimpeachability of the respective surveyor and loss assessor in terms of the Statutory/Regulatory/Legal framework of the financial sector as well as the law of land and the provisions prescribed, therein, in the interim period between issuance of fresh SLA license and the subsequent renewal of the SLA License.
Therefore, all Surveyors and loss Assessors (Individual/Corporate) are hereby advised to disclose the information/details in compliance with the above requirements and also the present status of the proceedings, if any, along with details within 15 days from the date of issuance of this circular in case if:
[Image omitted. See the official document.]
Sujay Banarji Member (Distribution)
सर्वे नं. 115/1, फाइनेंशियल डिस्ट्रिक्ट, नानकरामगुडा, हैदराबाद-500 032, भारत | Survey No. 115/1, Financial District, Nanakramguda, Hyderabad-500 032, India (C) : +91-40-2020 4000 वेबसाइट : www.irdai.gov.in (C) : +91-40-2020 4000 Website : www.irdai.gov.in
