Thursday, May 16, 2013

IRDA finalises norms for Surveyors and Loss Assessors

The Insurance Regulatory and Development Authority (IRDA) has finalized the training and licensing norms for surveyors and loss assessors for the insurance industry. The regulator has said appointment of a surveyor for loss assessment need to be made within 72 hours from the time of occurrence of loss was known to the insured. Further, they will be allowed to assess losses of only those departments specified in his/her license. They have been barred from acting as a consultant and are not to be involved in settlement of claims.

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