Guidelines for Practical Training for Surveyors and Loss Assessors

• JI 111(~4 itifT RIPl4,'1cti ~- ~ INSURANCE REGULATORY AND irJai DEVELOPMENT AUTHORITY OF INDIA Ref: I RDA/SU R/GDL/MISC/288/12/2020 01 st December, 2020 CIRCULAR To All Licensed Surveyors and Loss Assessors Sub: Guidelines for Practical Training for Surveyors and Loss Assessors I. Preliminary These guidelines set out the detailed procedure for practical training for obtaining fresh / renewal licence to act as a surveyor and loss assessor. These guidelines are being issued in terms of Sec.14 of IRDAI Act, 1999 and in terms of Regulation 28 of Insurance Regulatory and Development Authority of India (Insurance Surveyors and Loss Assessors) Regulations, 2015 and amendments thereof. II. Fresh Applicants (applying for Surveyor and Loss Assessor Licence for the first time) 1. The Applicants shall complete the prescribed practical training for obtaining fresh License to act as Insurance Surveyor and Loss Assessor after having fulfilled the following: a. The applicant must comply with the qualification criteria set out in the schedule 1 of the Regulations, 2020. · b. Shall enroll with IRDAI for the written examination with Insurance Institute of India and qualify in the examination. c. The applicant should enroll himself/ herself as Student Member with IIISLA. 2. The Student Member enrolled with the Authority shall pass the examination and complete training within a period of three years from the date of enrolment. 3. The applicant shall then undergo practical training either a) for 2 months with Insurance Institute of India/ National Insurance Academy/ any other institution approved by the IRDAI from time to time (Or) y 1 ~ cf. 115/1, ~ ~. ii I ,FHl l--1 ~s I, ~-500 032, ~ I Survey No. 115/1, Financial District, Nanakramguda, Hyderabad-500 032, India a) : +91-40-2020 4000 fflW : www.irdai.gov.in a) : +91-40-2020 4000 Website : www.irdai.gov.in b) through internship for 6 months with any Insurance Surveyor and Loss assessor who has at least 8 years' experience in the concerned department. 4. The approved Institute / insurance Surveyor and Loss Assessor shall give "Training evaluation cum completion certificate" to the successful candidates. 5. The student member shall submit the "Training evaluation cum completion certificate" to IRDAI for issue of licence. Ill. Insurance Surveyor and Loss Assessor seeking licence in additional departments: 1. The Applicants shall complete the prescribed practical training for obtaining license in each of the additional departments, after having fulfilled the following: a. The applicant must comply with the qualification criteria set out in the schedule 1 of the Regulations, 2020. b. Shall enroll with IRDAI for the written examination with Insurance Institute of India and qualify in the examination 2. The applicant shall then undergo practical training either, (a). for 2 weeks with Insurance Institute of India/ National Insurance Academy/ any other institution approved by the Authority from time to time (Or) (b). through internship for 8 weeks for each department with any Insurance Surveyor and Loss Assessor who has at least 8 years' experience in the concerned department. 3. The approved Institute / Insurance Surveyor and Loss Assessor shall give training evaluation cum completion certificate to the successful candidates. 4. The applicant shall submit the training evaluation cum completion certificate to IRDAI for issuance of modified license IV. This is issued with the approval of Competent Authority Executive Director 2