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IRDA notifies SLAs to submit compliance by Mar 2014

The main object of the company/firm shall be to carry out insurance survey and loss assessment, IRDA says

October 31, 2013 11:05 IST | India Infoline News Service
The IRDA (Insurance Regulatory and Development Authority) has advised to all corporate SLA (surveyors and loss assessors) to submit compliance by 12 March 2014.

There shall be at least two directors/partners in the company /firm at any point of ti me who are members of the institute and are licensed to act as surveyor and loss assessor, IRDA said in a circular.

Licensed surveyors who are working as employees of the company/ firm shall undertake survey jobs only of that company/firm with whom he/she is employed with. The employee shall undertake survey jobs only in those department and level of membership allotted to him/her under his/her individual license.

Upon grant of corporate license, the company/firm can undertake survey jobs only in those department and level of membership displayed against each of the director/partner in the corporate license issued by the Authority.

None of the directors or partners of one corporate surveyor shall be appointed as di rector or partner in another corporate surveyor.

The main object of the company/firm shall be to carry out insurance survey and loss assessment and name of the company or firm shall include the words "Insurance Surveyors and Loss Assessors".

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